Forex Trading Signals/Analysis for GBP/JPY (Wk Strt 18/05/08)

Hey Guys,

Here is the GBP/JPY analysis for this week, in addition to the scalp lines I mentioned the S+R lines beyond the scalps are also tradeable. Anyway again there is nothing much to say, just watch the video:

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12 thoughts on “Forex Trading Signals/Analysis for GBP/JPY (Wk Strt 18/05/08)
  1. Hi Nick. Just noticed a suport level @ 202.60. Is this a tradible level mid week or its best to look at last weeks s&r lines and stick with them. pleas clarify. Thanks in advance. Also we really enjoy your websight (speaking for everyone hear) ty. ty.

  2. thanks for the analysis, it’s always appreciated. why isn’t 202.6 considered a scalp line? thanks

  3. The 202.60 line is a bit “trappy” as on the 8th of May GBP reversed 200 pips at 202.30.

    If GBP shorts to the 202.20/10 area there’s a good chance it may look to 201.50 support (Nicks scalp line).

    Worth looking at.

  4. Is going long at the 204.83 S&R line now a better trade to take than the long at the 205.1 scalp line?

  5. Hi Nick!

    Price didn’t go through 205 at first, but waited… and there you go. A break worth +33 pips :)

    M4gst3r

  6. Went long @ 204.80….took this trade as a normal s&r trade as the price bounced off it twice….closed @205.55…..Nice 75 pips…clean trade!! :)

  7. 85 pips on the break of the 204.80 S/R line.

    Entered at 205.00 s/l 70 pips.

    1st half closed at 205.70
    2nd half closed at 206.00

    Full details in my trading journal.

    1st disciplined trade ever and its a winner.