Easy EUR/NZD, easy...

Gordon Gekko's real-time Forex trading calls

From a purely classical chart pattern point of view, the EUR/NZD has just completed a top Head and Shoulders formation on the 1h chart. Or so it seems (see chart below)...

Gordon Gekko's real-time Forex trading calls

NZD Trade Balance report in 25 minutes (6:45 PM NY time), and then the NZD Business Confidence report at 9PM, this should be interesting...

Gordon Gekko's real-time Forex trading calls

Shorting again the EUR/NZD at 1.4213, 38 pip stop. Now behave yourself Mr. Kiwi or I swear I will start punching some kangaroos

Gordon Gekko's real-time Forex trading calls

Note to self: Prevent the system from initiating positions 5 or 10 minutes before New York close. Or better yet, do not open any new position between 4:55 PM and 7PM, NY time.

Gordon Gekko's real-time Forex trading calls

What a stupid trade, the spread ballooned to 36 pips and triggered my stop.

Gordon Gekko's real-time Forex trading calls

Short EUR/NZD at 1.4213, 38 pip stop.

Gordon Gekko's real-time Forex trading calls

Out at 124.34, 32 pip loss.

Gordon Gekko's real-time Forex trading calls

Long CHF/JPY at 124.66, 42 pip stop.

Gordon Gekko's real-time Forex trading calls

This short EUR/CAD trade has of course been liquidated at breakeven.

Gordon Gekko's real-time Forex trading calls

Out at 1.5223, +67 pips. Waiting for possible re-entry.

Gordon Gekko's real-time Forex trading calls

+100 pips, switching to dynamic trailing stop.

Gordon Gekko's real-time Forex trading calls

+60 pips and counting, moving stop to break-even.

Gordon Gekko's real-time Forex trading calls

GBP/USD is trying to reverse the downtrend and break through the high of the day...

Gordon Gekko's real-time Forex trading calls

Out at 1.5154, 10 pip loss. Long GBP/USD at 1.5156, 45 pip stop.

Gordon Gekko's real-time Forex trading calls

Short GBP/USD at 1.5144 (limit order), 45 pip stop.

Gordon Gekko's real-time Forex trading calls

Stop has been moved to break-even. Profit target for this trade is 30 pips. Current (ask) price is 1.3205.

Gordon Gekko's real-time Forex trading calls

Short EUR/CAD at 1.3219, 36pip stop.

Gordon Gekko's real-time Forex trading calls

The only economic report due during the Asian session is the CNY Industrial Profits report (9:30 PM NY time). Chinese reports usually move the New Zealand dollar, sometimes in a significant way due to liquidity issue, so monitor your position(s) ...

Gordon Gekko's real-time Forex trading calls

This week I am adding a filter that will prevent the system from initiating long or short positions with small potential profit. I have been working on this filter from quite some time now and the results look more than encouraging.

Gordon Gekko's real-time Forex trading calls