Forex Trading Analysis/Signals for GBP/JPY (Wk Strt 27/04/08)

Hey Guys,

Last week was a very boring week with not trades. Yes I know that 204.90 level was broken and Is aid I would trade it but what many people conveniently ignored was my saying I would not be trading on the Monday. I said I wanted the market to calm down and pick a direction first. This break happened on Monday as as far as I was concerned it was not a trade. So no weekly wrap-up this week since there were no trades last week!

Ok this week there are two great setups, the 209.00 for a long and the 203.30 for a short. They both had very significant bounces from them and they are looking like strong liens which will provide good momentum. Those are my two main lines for the week. I explain this in more detail in the vid below so watch it:

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16 thoughts on “Forex Trading Analysis/Signals for GBP/JPY (Wk Strt 27/04/08)
  1. Hello Nick,

    A couple weeks ago you said that for the normal trades the profit target was 70 pips and the stop loss was 80 pips. Now you said that the stop loss was only 70 pips. Did you change the stop for the system or did I misunderstood something?

    Herringtrader

  2. Hello Nick and thank you for all your help. I have just recently began trading your analysis of the GBP/JPY and find it profitable.

    My question is, When a SR line is crossed, do you find the trend will usually continue in that direction until it reaches the next SR line before the possibility of a reversal? Thanks!

  3. Herringtrader » 70 to 80 pips, I do not hold hands, people need to make their own decisions ultimately. I usually say 70 to 80 pips if you think it needs 80 give it 80 if you think 70 is sufficient go with 70.

  4. I watchtched the video on GBP/JPY for this week but the flash player wsa not responding on my PC.Would be glad if the signals would be sent to me via e-mail.I know it’s like asking for too much but please i need this Sir !

  5. ibeawuchi samuel »

    So you want me to type it all out as well as video it?…. stuff like this annoys me, it’s not happening man.

    Can’t you just Google the flashplayer issue?

    -Get the latest version of flashplayer
    -Try a different internet browser
    -Download the video (theres a ‘download’ button) and play it on some software that plays .flv files. GOM media player (free) for example or just type ‘free flash media player’ in Google and find another one.

    There are many options that involve you doing a little extra work. I am not going to add extra work to my busy schedule to make your life easier, do not be lazy…..

  6. kathy »

    Because even I make mistakes…… thanks for picking that one out Kathy.

    Sorry for missing that one guys, good to know some people are paying attention though!!!

  7. Hey Yall…

    First I want to thank Nick for the guidance on the Gbp/Jpy pair. I’ve made alot of money because of him!

    While trading this pair, I also trade the Gbp/USD pair. Let me give you an example. When Nick had that small delay for the gbp/jpy I made 48 profitable pips, during the London session, on the gbp/usd with 400 mini lots(without scaling out). This morning, and I’m just looking at the market now going sideways, I made 72 pips profit with 400 mini lots on the gbp/usd.

    So, while waiting for the signal to get hit on the gbp/jpy I also trade another volatile pair that moves well during the London session. I like the gbp/usd simply because it moves alot during the london session and the top 144 banks or so, in the world, are located in London and the Pound is being traded like mad men on steroids, right there in London.

    Once again, I want to thank Nick for showing “us” those support and resistence lines because that is what I trade off of. Actually, 100% of my trades are traded on the RETRACEMENT of the market when the market is trending which happens nearly 100% of the time on the 5 min. and 15 min. charts during the London session.

    Well, hope everyone had a good trading day…

    peace,

    hilton

  8. hi nick and all.

    if this question has has been asked and aswered ill apologise now. With the 210.60 level i cant see why you are giving it so much importance, when i look back at its history even on a daily chart when its hit this level before it always went on to cut in and out of it at a later date, therefore i would have thought diminishing its value as a set up for us to trade. just wondering why you have factored this in as a level for us to trade?

    ps. love this site looking forward to going live soon. Out of my last 10 trades using your methodology i have had 7 winners, so thankyou very much
    dave

  9. I missed your webinar cos my server developed a problem.All I ever wanted was to learn how you do the support and resistant lines.I needed that a lot but missed it this one time.The videos on your website on how to draw support and resistant line are inaudible and are cracking.
    I feel bad troubling you knowing how busy your schedule is .But am wondering if there’s any simple explanation you can give me on how to draw these lines.
    I don’t mind if it is just a sentence.
    Please consider,Thanks