Attached a 100 pip trailing stop to the GBPNZD trade. Presently the railing stop has locked 110 pips.
My GBPNZD trade hit TP and earned me +300 pips
This trade compensated my previous 5 losses.
Done for the week.
Nice call on the GBP/NZD short. Have you seen Best Forex Trading System this month? It takes advantage of huge GBP/NZD trends such as this one 
Winner: January’s Best Forex Trading System | Forex Blog: Art of Automation
Yes. That thread by pipcompounder includes my posts also. Now my trade is closed and grabbed +300 pips.
This trade is not actually a technical trade.
I am placing a pending order to Short GBPNZD at 1.8180 based on following fundamentals.
- Yesterday’s NZD retail sales data came out as better than expected
- Today’s GBP retail sales data released as worst than expected.
Assumption
Both fundamentals together may take GBPNZD to new lows.
I am not that much concerned about fundamentals. Hence I am placing a pending order to short below recent consolidation.
nice charts Bijoymj,I wonder if it will bounce off 1.58998,surly the kiwi must weaken soon.
As much as I’d like to not look at the Kiwi for weeks, spotting another setup is a good way to get over my recent NZD/USD loss. The pair is currently testing the .8550 area, which is near the neckline of a rough head and shoulder pattern. Remember to wait for a breakout before you short this pair!
First, thanks to babypips that creates this site for people like me to benefit. You and fx-man trading it so simple and direct. I have been trading live for about 6months now. First put in $500.
I lost that. Then put 1000. And tried a Robot, Lost that. Then put in another $5000, and said to myself if I lose this,
then I’ m done with forex but right now the account has reduced to $4400.
I would like to have both you as my mentor in trading forex.
Please, your advice will be appreciated
Trade closed by hitting moved Stop Loss. Gained +100 pips
