Nick's Forex Blog

Learn from Nick B's Forex trading blog, so you can use Price Action to make pips on any currency pair consistently too.

Scalp Line at 198.05

Hey guys, Just wanted to point this line out again, we got another strong bounce and reversal from it yesterday so it looks like a very strong line. Be sure to be on the look out for a break of the line, it should be good, if you can set chart alarms do so. I have a feeling you won’t want to miss this break!

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Forex Trading Analysis/Signals for GBP/JPY (Wk Strt 13/04/08)

Hey guys, Here is the weekly GBP/JPY analysis. It looks like it will be another great trading week. I explain in the video that I will not be using the 200.00 line. Remember that I am not using it because I do not take many risks in my trading. If you are more willing to takes risks you might want to consider opening a long position on break of the 200.00. Besides that everything else is in the video below so watch it!

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Weekly Forex Trading Wrap-Up for GBP/JPY (Wk Strt 06/04/08)

Hey guys, Last week was a great week for trading, we had 5 trades 4 good 1 bad. It all added up to over 100 pips. The second break of the 200.00 line was by far the best trade easily making 100 pips by itself. Anyway I go over all this in the video below:

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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 […]

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Heads-up GBP Interest rate anoucment

I am a completely amateur economist, however having been a trader for the better part of a decade I know more about economics than your average guy. This week I believe I can make a very strong case for a possible 0.5% rate cut by the BoE on Thursday as opposed to the expected 0.25% cut. I am not going to lay it out here because I am tired and its way too much typing. Maybe tomorrow I will throw together a paragraph or two on my reasoning for expecting a possible 0.5% cut. Anyway, a quarter percent cut should be priced in so I doubt it will have a major impact on GBP/JPY. If however we see a 0.5% cut it could have a huge impact on GBP and it could send any open trade completely in the negative (or maybe in the positive). For this reason I will not be entering any GBP/JPY trades a few hours before […]

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Forex GBP/JPY Weekly Analysis (Wk Strt 06/04/08)

Hey Guys, Here is the weekly analysis for this week, there isn’t much to say except watch the video below:

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Forex GBP/JPY Weekly Wrap-Up (Wk Strt 30/03/08)

Hey Guys, This wrap-up is a little early but for me the trading week is over since today is NFP Friday. If you do not know what NFP Friday is I explain that in the video below. I also go over the trades for this week. I saw three trades this week. The first one was the break of the 200.00 line, it was a little risky and not my normal type of trade but it was profitable. I explain it in detail in the video. The second trade was on the 201.80 line mentioned in the weekly analysis, this one could have made you 35-150 pips depending on how you traded it. Personally I made about 95 pips on it. The third trade was based on the next S+R line I had 203.40 (an old line), I did not take the trade but it seems like it would have made 35 pips maybe more depending on how you traded […]

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Forex GBP/JPY Weekly Analysis (Wk Strt 30/03/08)

Hey guys, Here is the weekly analysis for this week, I know it’s late but I was busy redesigning the site. GBP/JPY was pretty boring last week; this week looks like it might be much better. I can see two good S+R lines that are close and one that is far: Long: 201.80 (very strong) Short: 196.71 192.60 (very strong, same line I mentioned last week) These are all normal S+R lines, that means I target 70 pips on my first half, move my stop loss to break even and try to target more with the second half. Stop is usually about 80 pips. I know that the stop loss seems large but with a high win ratio (8 out of 10 trades profitable) a high stop is fine. Remember that scalp lines and candle stick based trades that form during the week so I cannot mention them in the analysis. Keep an eye out for trades like that as […]

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Forex GBP/JPY Weekly Wrap-Up (Wk Strt 23/03/08)

Hey Guys, Last week was a pretty boring week for my trading method, we only got one trade, and it was a 50 pip scalp trade. Even though last week was boring the week before was a 200+ pip week. so what does that mean? Well if you add up all the pips made on this blog the average per week comes out to about 100 pips. I don’t know about you but for me 100 pips p/w is amazing. If you can average 100 pips per week on a consistent basis your account will grow very fast. Anyway I explain the trade in the video below. P.S. You may have noticed all these buttons up above. They link to social bookmarking websites, if you are a member of any of them and you find these posts useful hit the button and bookmark this site. This way other traders can find this site based on your recommendations!

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Weekly Forex Analysis for GBP/JPY (Wk Srt 23/03/08)

Hey guys, I forgot to mention in the video below that I will not take any trades today since it is a holiday and the markets can be unpredictable on holidays. So the analysis is for Tuesday onwards. We have three usable S+R lines this week and no scalps, watch the video for more info.

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Forex Weekly Wrap-Up, GBP/JPY Trades (Wk Srt 16/03/08)

Hey Guys, This week we had three trades (by my count) and all of them were profitable. I only ended up mentioning one trade in the weekly analysis. This is because the first trade happened before I released the analysis and the second I didn’t mention because I rushed through the analysis. I rushed through the analysis because the trade I did mention was very close to being triggered while I was shooting the analysis. I had to rush through so i could get it out before the trade triggered. I think I got it out about an hour before the trade crossed the line so I am sure a few people got it. If you made some pips on that break of 196.71 line leave a comment! See that email thing to the right >>>>>> If you sign up to the mailing list you will get an automatic notification every time I make a blog post. This way when […]

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GBP/JPY trade from the weekly analysis EXIT

Based on price action i would say now is a goo time to exit. Current level is about 198.15 and the trade was worth 80-100 pips. I will release a trade update vid for this trade tomorrow.

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GBP/JPY trade from the weekly analysis

I hope some of you guys caught this trade. I released the weekly analysis about 1 hour before the trade was triggered. I said I would aim for 50 pips on the first half, move my stop to B/E and try to target more. I would now move my S/L up and lock in 100 pips on this second half. It is at the 198.30 (another S+R line) so it will probably have trouble breaking. As for the 198.30 S+R line, because of the large retrace we saw when it crossed it on the way down the line IS NOT A TRADE. So if you are in with the second half your stop should now be around 197.70

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Forex Education: Weekly analysis for week starting 16th March 2008

Hi guys, After a great start to the week the market was left in disarray, in my opinion it is dangerous trading immediately after big moves. The market become unpredictable, sometimes you see immediate reversals, sometimes the moves not over, and other time it just begins to range. Not begin sure which scenario we would see I was apprehensive about doing any weekly analysis. Now that the market has calmed down and started ranging (best case scenario) I have been able to do some analysis. I want to get this out quick so enough writing, watch the video! NOTE: I will not really enter either of these trades as I target 100 pips per week and I have already reached my target for this week. When i say ‘I will enter’ here I am talking hypothetically. If I has not reached my 100 target yet I would definitely enter these trades!

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Forex Education: No weekly analysis yet for this week

Hey guys, There is now weekly analysis yet for this week, and no it’s not because I am too lazy to do it. When the market moves a lot it becomes tough to pick some good levels. For example 192.60 is looking good but if it breaks through it too soon I probably wont enter. I need the market to calm down a little before I do the weekly analysis. From next week onwards I will be doing the weekly analysis on Saturdays/Sundays as opposed to Monday. This way when the market is open the analysis is already done. As soon as the market comes down i will make an analysis video. For now I have included a video explaining everything that said in this post but you can see my chart so you can see the new lines I have place. Obviously the price has moved down so seeing these new lines will be helpful if you are trading […]

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Forex Education: Weekly wrap-up for week starting 9th March

Hey guys, Last week did not work out as planned. We only had a single trader triggered and it hit the 70-80 pip stop loss. Can’t win them all though, I average about 8 wins for every 10 trades so I expect to lose 2 out of every 10 trades. I think my average may be a little closer to 9 out of 10 this year though as losses have been far and few between. Anyway better luck this week, I am already finished trading for the week and i collected about 1 months worth of pips! How did you go last week? and how have you done so far this week?

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Forex education: Weekly analysis for week starting 9th March 2008

Hey guys, It’s the start of a new week of pip making again and it looks like it could be an interesting week. We have a new 2 year low at 203.44 which should make for a great short if broken. A lot of the times these significant highs and lows cause quite a bit of movement when broken so hopefully it heads down there. On the bullish side we have two lines a scalp at 208.00 and a normal trade on the break of the 208.80 resistance line. Remember though, I cannot predict candle formations and there are always trades to be had based on candle patterns. Be it a reversal pattern or a candle that creates a new scalp line trades can form during the week. So keep your eyes open for those trades. Check out the video below for detailed analysis. Also Forex 4 Noobs is getting a face lift. I know I do minor site changes […]

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Forex education: Weekly wrap-up for week starting 2nd March 2008

Hi guys, We had four profitable trades this week worth between 150-200 pips. There is not much else to say it was a great week check out the video below for a full wrap-up. Oh, one more thing 428 video views and only 10 comments DON’T BE LAZY!

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Forex education: Weekly analysis for week starting 2nd March 2008

Hey guys, Had a few issues with my mic and had to buy a new temporary cheap one until the one I ordered comes in. You may notice some distortion with this mic as the quality is not that great. As for the trades we have two lines this week, the 207.00 is still good for a long and the newly formed 203.44 for a short. Check out the video for the more detailed analysis.

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GBP/JPY 204.70 break trade

Hey guys, Even if I got the analysis out on time it would have been way too late for this amazing trade. The first candle of the week caused a short break of the 204.70 line and we got a nice 100 pip move from the break. If you look back to the weekly analysis for week starting 10th of Feb 08 I mentioned I would enter a short on a break of the line. Obviously that trade never happened until now. So this trade was a little delayed but it was good. I close my 1st half with about 100 pips and the 2nd is still open in the trade. It is reversing now so i will keep a close eye on it and see how it goes. Either way is is a great start tot he week. If you took this trade levae a comment, I am hoping atleast some people took it.

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