GBP/JPY 200.00 signal

Hey guys,

How did everybody do with this trade?

From the email and Skype ‘thank you’ messages I have been getting it seems like we got a huge range of profits (as usual). The lowest profit was about 30 pips the highest about 170 pips. On a trade like this it all depends on the subtle differences in the way you traded it. I traded this one a little differently and grabbed 109 pips!

I was watching this trade like a hawk because I had nothing better to do toady. Watching the price action I got a feeling that this trade would not actually reverse. So when it eventually hit 70 pips profit I closed the first half but left my stop where it was. From this point if it totally reversed I would have lost around 5 pips (big deal). Having already made profit this week I wasn’t too concerned with a 5 pip loss. So I left my stop at -80 pips instead of moving it to break even. Yeah, I know I always say target 70 on the first half and then stop loss to break even. If you remember last week though I also say that my trading does not have rules only guidelines. 70 on the first half and stop loss to break even is just a guideline and on this trade I decided not to follow.

Anyway I will delve into more detail in the weekly wrap-up video.

Either way this trade was profitable, be it 30 pips or 130 pips profit is always a good thing.

P.S. How did you guys do on the other two trades of the week?

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11 thoughts on “GBP/JPY 200.00 signal
  1. Hi Guys,

    i was trading at breakout of 201.80 and 200.00
    the first trade gave me +50 pips, and the second gave me 35 pips on half position and 70 pips on the other half.

    have good trades.

  2. I am not sure which were the “other” two trades of the week.

    I only saw two trades this week total (201.80 and 200.00) and I got 70 pips on each.

    Thanks Nick! I am learning a lot.

  3. Only went for the 200 trade. 56 pips on a full position. Sat out the other two trades. Still, a positive week is a positive week. Cheers for the analysis Nick.

  4. great trade for 112 pips. rode the whole thing. thanks Nick the 200 line was superb. the upcoming rate news also helped

  5. Got 50 pips shorting the break of the 200 although it took a while, then entered long off that “sort of long” wick when it broke the 198.33 this morning(EDT)set target at 200. good for 140 pips. Was a great week. THANK YOU NICK!

  6. Nick,
    Would if be possible for you posts like the one above, to have the time it was posted.
    I think it would make it easier to see the trade you are talking about.

    An example is that price action broke down through the 200 and broke the 200 the other way.
    If I read you post several hours later, it is not clear which way you traded.

    I might be confused on this, but I always thought a “break” meant up, and a “break down” meant, well, down.

    Thanks

  7. Ran, Scalp trade short 202.14. I didnt really see it, or was focused on the Support and resistance line at 201.80, but that would have been a nice entry early on the 201.80. Nick how do you take profits (combined positions) when you enter early with a scalp trade just before you cross a support and resitance line, do you just exit the scalp at 50 like regular, and enter another positon at S/R line, or just one position and exit 70 pips past S/R line? I took 201.80 and made 70 0n first half and broke even on second half. On the 200.00 made 70 on first half and 110 on second half. Thanks Nick.

  8. Missed the first break of the 200 line as i was asleep… But I caught it on the way back up through the 200 again for 70 pips :-))

    Thanks Nick !!

  9. Nick,
    I am a “newbie” as far as posting but have been a member of your site for a while now. I managed 44 pips via shorting the 201.78 position.
    Thanks man!