GBP/JPY Weekly Analysis (Wk Strt Aug/02/09)

Hey Guys,

Here is the weekly analysis for this week. Last week was an interesting week so I will add a weekly wrap-up for it a little later.

We only have a few support + resistance scalp lines on GBP/JPY this week but more are likely to form during the week. The great thing is GBP/JPY is heading back up into more familiar territory. This means trading will likely get a whole lot better. The further up it moves the closer it will get to areas with well established support + resistance. This should make trading GBP/JPY much more predictable and bring us back to an 80% hit rate. So the higher Pound/Yen moves the better it is for NickB method traders!

Anyway enough rambling…. here is the analysis:

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18 thoughts on “GBP/JPY Weekly Analysis (Wk Strt Aug/02/09)
  1. anibody got the 160.60 entry?? i was looking at other pair,when i switch back,i was shock to see the price shoot up.. & Just nice landed on 50 pips profit

  2. nice going Nick…after a year of trying, testing, readin various methods and systems I have come to currently ‘scrap’ everything except the gbp/jpy pair using your concept (mostly) coupled with a few varied templates. Finally seeing some consistency!

  3. Which entry? What entry? for god’s sake, please start your text blog Nick.

    anybody help me what is he saying in this video! Thank you for listening me. A poor deaf trader.

    1. @asif:

      I understand where your coming from but I have limited time in which to do the analysis and I cannot do text analysis every week. I will try to do it but I cannot do it every week.

  4. Thanks for showing what a successful forex trader means. Very good analysis and successful trades. Most failed forex traders only shows history events and make money through innocent traders by selling books, buy and sell signals etc. (Opps!)

  5. Nick,

    Might I suggest that for Asif’s benefit (and other hard of hearing/deaf traders), that you if you can’t manage a full blown text analysis, you just include a very brief text stating the buy/sell signal for the scalp/S+R lines for that week. At least this way they can still trade this system.

    Regards,

    Mickey.

    PS Keep up the good work.

  6. I open my notepad and jot down the long and the short price levels. I apprecaite EVERYTHING Nick has done for us. Took my first trade Monday morning and made some pips not as many as I would have liked but I know it’s the trader not the method. This stuff is priceless. If you can’t hear the commentary get a hearing person to help.

  7. Hey Nick

    Got the entry at 160.50 for 50 pips

    but got burn down going long when it crossed 162.05. I entered at 162.25

    what did I do wrong?

    thanks

    Mercytab