GBP/JPY Current Master Candle

Updated on June, 12th, 2015 – I do not use master candles anymore, as they do not work in current market conditions. You can read more about this here.

Check out this master candle on GBP/JPY

GBP/JPY current master candles

Now check out the same master candle on GBP/USD and GBP/CHF:

GBP/USD

GBP/USD current master candles

GBP/CHF
GBP/CHF current master candles

Now take a look at the same master candle already broken on the long side on EUR/USD and EUR/JPY:

EUR/USD
EUR/USD current master candles

EUR/JPY
EUR/JPY current master candles

All these master candles are the same and two have broken to the long side. This is an indication that the GBP/JPY might break long and if it does it might make for a good trade. The same master candle is spanning across several pairs and some of them have broken. If the others break in the same direction GBP/JPY should make for a good trade.

I am still cautious with these kinds of trades so I wont enter a real postion. I thought I would give you guys a heads up on it though.

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31 thoughts on “GBP/JPY Current Master Candle
  1. i think you can make method 100% win rate you have to have like dynamic target see if it is going to reach it. Sometimes it would break right way but likely to follow through. obvious break is going to happen like to be down.

  2. I am taking a position on a break long….but since its all based on the US right now…I don’t think the market is going to just give the trade away…I think there is going to be a little bit of faking out first. I’m being extra careful

  3. I took the gbp/jpy break, argh!!! it went down like 94 pips from open
    but i got stopped out…..my stop was too tight….around 57 pips?
    i was like a few pips from being ok.
    Oh well…..
    Are people using 1 to 1 risk reward? I aimed for 70 pips, which would have easily cleared through….but the stop was just too tight.

  4. @Mike: Oh and Mike clearly you haven’t looked at my book. If you had you would have realized it was free. Whats that sound…… silence…… owned!

  5. i dont know why there are snippy comments. he not suppose give signal when he trades. show how trades went after it is all done like baby pips.

  6. I asked you a simple question, but, like always when you don’t have an answer you tell everyone to go and read the book.You should have become a labrarian. I guess it is easier to do that. But is that the right thing to do??!!

    PS: For Nabil: who asked about signals?? I won’t waste my time to a guy that said: “i think you can make method 100% win rate ” You obviously are trading for less than 3 months. I just wonder where will you be in the next 3 months.

  7. @Mike: I think the problem is that you are a little too simple.

    I do not see a question, I see a pointless and baseless rant. You also made a fool of yourself with your other comment about me selling e-Books. However you avoided replying to that since you cannot really recover yourself there.

    Seems like you should stick to arguing with kids….. atleast if you argue with a children you might have a chance of outsmarting them.

  8. honestly you dont get what i was trying to say. if dont have target pip set you can make 100% win ratio. Honestly if you so good shouldnt be coming to these website waste your time with your stupid banter. if you are good trader show it rather complain what nick is.

  9. @Mike: I think the problem is that you are a little too simple.

    I said that??!! When and where?

    And one more thing: So, you are not selling books??!! Then why do I get these emails every two weeks??!!!! Become a priest and start selling bibles!

  10. @Mike: Nick I hope you don’t mind if I intervene here. But Mike, your question was not ‘simple’ it was derogatorily aimed at Nick. If you had truly wanted to just know if Nick had traded that Master Candle that’s all that you would have asked. You wouldn’t have added the footer comment of ‘Or are you just trying to sell an ebook?’

    First you neglected the fact that Nick is not selling any ebook, it is free. Since you have already implicitly stated that you weren’t just interested in seeing if Nick took the trade. Does Nick practice what he preaches, so to speak. If Nick said he had taken the trade would it make you feel better? I don’t think so, you clearly have some underlying emotion somewhere.

    Lastly, if you add a tagline onto a simple question expect to get a retort just as immature.

    Zack

  11. @ Synapse

    If this is not selling, than what is this??!!

    This a quote from Nick’s so called “Christmas offer in times of great distress”

    “Save $40 on the NickB method video course until Christmas and go into the draw to win 1 months free mentoring with Nick B.”

    PS: At least my question was honest. The way I put it might be questionable. But the way Nick answered is not direct, it is just like the answer of a catholic priest who preaches all day long in a dusty church.

  12. A dynamic 139.20 or what? Having a so called “dynamic target” from your point of view doesn’t imply a dynamic SL? All that dynamic shit might kill you one day. I hope not, but just think about it. Watching trades will influence your decisions. Maybe not today or tommorow, but one day can prove to be fatal. You will understand that in time. But, I also admit that watching a trade can be sometimes more profitable than just having an order at a certain level.
    As an advice if I may: Let trading be just a job, not a life. Do not overstress yourself. Making milions is not a three day job. It takes time and a lot of patience, not hard-work.

    Take care!

  13. @Mike: You seem to have some obsession with religious metaphors…. wierd.

    Is your brain able to comprehend the difference between an e-Book and a video course? One is a online book that is just text and pictures while the other is 4hrs of live video. Should I give you a little time to mull that one over before I embarrass you again in front of all these people?

    P.S. Thanks Synapse

  14. @Mike: It would be an advertisement, if you have such a qualm with the fact that Nick sells his free ebook in a much more elaborate Video Course, we need to put some things into perspective. Nick states that all the money goes towards a Charity, is there a way for us to know if he actually does? No, we have to take his word on it. But worst case scenario, lets say Nick IS pocketing this $100 for every Video Course that’s sold.

    Nick has about 2500 people watching the blog and over 5000 members in the forum. It would be safe to say that at most 2500 people would be slightly interested in buying the course. Now have all 2500 people purchased it? We have no way of knowing, but this is the worst case scenario game, so Nick over the last year has banked $25,000 from selling his video course. Quite a handsome profit eh?

    Well, lets take a look at what else Nick is selling….nothing, so its only $25,000.

    Nick has had this site up and running for over a year, but lets just say that it has only been one year. Nick pays about $4000 A MONTH at least in webhosting costs, this runs from everything from having your own domain name, purchasing templates, running a 24/7 chatroom that can hold up to 200 people at once, and many many other things.

    So 12 months times $4000 and already we see that Nick has paid $48,000. His not worst case scenario expenses far outweigh his best case scenario profits. Nick is losing money any way you look at it, and yet you still find the time to poke fingers at him for what he offers.

    If you don’t believe me on the webhost costs, go ahead google it and try and get a quote on all the features that Nick has on this site.

  15. @Synapse: Thanks Synapse, add to that all the time I put into this site. Even if I did pocket the cash no matter how many video courses I sell it would not be worth it. It’d be a pretty stupid business idea.

    By the way since the video course has been on sale around 190 copies have been sold. Two people have requested refunds.

  16. honestly that wasnt the scalp, it was long term trade for me. i wanted see if i predicted right that i will fall from that level and it did. scalping for me is 5 minutes in a trade max.

  17. So Nick, you advanced from selling books so selling video stuff. I think it is great. You just arrived in the 21 st century. A few years ago… were you sellind carved e-rocks?? And btw why all this bragging about donating money to charity?? I will give 50000 to your charity if you prove that all that money went to charity. I will send you 10000 just to prove you it is not a joke. Please send me an e-mail with the account number. I repeat, it is not a joke.

  18. i really dont get what up with you mike getting twisted nick send out video courses. if you want his email dont subscribe to the email. i didnt. i dont bother what he is doing. it just an AD.

  19. One more thing, if you decide to send me an account number, please attach at least one document to prove one of your donations. I promise I will not publish it, even if you curse me live on CNN.

  20. @Mike: Mike….. I never sold e-Books on this site. You are a little slow. Only one thing has ever been sold here and that is the video course. Oh and give some random dude from Eastern Europe my account info? You have got to be kidding me. Plus I find it hard to believe that somebody as slow as you has that kind of money.

  21. @ Nick:

    Hey idiot, I made you a decent proposal. I asked for a bank account. You could make a new bank account contanining 0 money. Looks like you are just a liar that can not provide a proof a his actions. And what did you think that I would steal money from you????????!!!!! First of all you think that having 1 mil $ dollars is such a big thing??!! Second of all I drive an M6 I live in an 1 mil $ home. Proof of that may be sent to you if you sign an legal agreement of not publishing my adress or any other personal data. Third of all you try to make me feel bad about living in Eastern Europe??!! Yeah, I live in Romania and I love this country. At least it has a 2000 years history. You live on island that was a 100% a prison. Plus it is just a desert on which some cities were made by your honest citizens forced to labour like slaves. Stop giving me history lessons. You are lust a spoiled kid that thinks that having some money makes him the king of the world. Just take a plane and see this world. It will open your eyes. I am just curious which were the last 3 countries you visited. Or maybe you enjoy your man-made prison… I am also quite young, having 25 years, but having money doesn’t entitle me on judging anyone. But now I had to make an exception.
    And one more thing… when is that donation proof coming?? Or should I just read the e-book??!!

  22. Mike lets get real here. You are 25, Nick is 22, and I am 20, so we’re all in the younger generation. Nick has a point, I don’t think Nick was jabbing a finger at your heritage, only that he can see you IP address and its very skeptical for ANYONE to give their bank account information to any stranger. Even if it has no money in it, you have a lot of personal information about Nick that he may not want you to have.

    If you are trying to look for a successful way to trade and are curious in the way that Nick trades, and you haven’t read the ebook, then please try and read it. See what you think, how it relates to what you know about the market.

    But for someone who says he has a lot of money, and is trying to trade the forex market, you are acting like a baby. Show some maturity for your age. Making fun of the stereotypes that you have about Australia, or about Nick’s heritage isn’t the way to solve anything. You just make everyone look at you in a poor light. People respect Nick for the free ebook and the strategy that he has given them. Nick has helped people in their trading.

    Right now, all of those people that look up to Nick are frowning down upon you as a nuisance, for all they know, you might just be angry with Nick for taking one of his trades and losing.

    I don’t know what your problem is but seriously, if you are a millionaire as you state, quit complaining about a $100 advertisement, since you are willing to send $50,000 off. Start acting your age, you’re making the world mad.

  23. Mike – Everytime I read Nick’s blog you seem to be moaning about something Nick does. Why don’t you just go somewhere else and do us all a favour.

  24. @ Synapse:

    Hy, I am not a parrot first of all taking trades that I don’t feel confident about from my own analysis. I use in my trading a method that is 80% the same with his. It only different when I take long term trades, so I don’t have a problem with his method. I just have a problem with the fact that he can not give a straight answer to any simple question. That is all. Plus I don’t have a problem with any Australians as long as they don’t insult me or my country.
    If anyone wants I can prove that eficiency of my tradindg by posting analysis. I trade 18 pairs, so anyone can find something interesting there.

    Take care!

  25. Hey Mike, I have no idea why you are here. True, Nick has his videos for sale, but actually if you wanted to, all the material is here for free. The basic idea is in the forums and free ebooks. If you are successful good for you then.
    But what do you have to gain by posting these messages????
    Your time is better spent doing something else.

  26. I’m a little baffled as to Mike’s hostility as well. Personally I tend to assume everyone on the internet is completely full of shit. I would certainly not stake anything valuable on Nick — or anyone else I don’t know in real life — being legit.

    But who cares? Either his method and tips work or they don’t, and it’s easy enough to see which it is, without risking a thing, by demo trading. He’s giving them away for free at any rate.