You didn't post a topic yet. Let us show you how to make your first topic and upload your favorite forex robot. Guide me

Skip to forum content

Login with Facebook

Login with Username and Password!

     Username:       Password:  Login

Register  |  Forgot Password?



The latest topics with attached files (Forex robots, Forex Indicators, etc..)

Forums in this category with details of Replies, Views, last post

SZ_Scalper free

by Holger Bläsner

  • 1 replies
  • Last post Today 15:20:16 by hussain.tradeexpress

new member is here

by ShakEel Ashiq


by Lau Fran Albuquerque

[ Closed ]

Pages 1

You must login or register to post a reply


Posts: 2
Please rate this topic
Current rating: 0
Votes: 0

Embed topic to your site

GBP/NZD Forex Trade Review & GBP/USD Short Idea

Topic: GBP/NZD Forex Trade Review & GBP/USD Short Idea

Short GBP/NZD Closed
As I mentioned in my forex update last week, “it was a “perfect” textbook technical short setup, but the surprise Bank of Canada rate cut changed the game on this trade by pushing all of the comdolls lower against the majors.”  Well, the pair did manage to go all the way to my stop level at 2.0160, taking me out of the trade ahead of the weekend.
Total: -499 pips/ -1.0% loss
In hindsight, I really didn’t expect the BOC to do a rate cut, but I guess I should have thought of it as a possibility with other central banks easing and inflation falling.  If I had, I probably would have waited until after the event before entering at market.  And even if I had waited, I still would have shorted as I feel the pair is still in a technical downtrend and yet to be invalidated even today.  We even have a bearish divergence setup forming on the chart above.
But with the Reserve Bank of New Zealand issuing their own monetary policy decision at the end of the Wednesday U.S. trading session, I’ll hold off on jumping back in short on GBP/NZD for now.  Who knows what the RBNZ has cooked up, which could be as surprising and market moving as both the ECB and BOC.
Overall, I wouldn’t hesitate taking this textbook technical trade setup again in the future–it was just a bit of bad luck with the Bank of Canada surprise rate cut.  And that’s why I always trade with stops, for when the story unexpectedly changes.

Short GBP/USD Once Again
I didn’t get a chance to catch the downtrend with my last attempt to short GBP/USD, but with Cable bouncing off of the 1.5000 major psychological area, I may get a chance to play my long USD bias once again at a better than market price.
My fundamental argument remains the same as my last GBP/USD trade idea, but there is an “X factor” this week with the upcoming FOMC monetary policy meeting. With the Greenback going on a monster rally since mid-2014 and now that we’re past the end of QE, I think any dovish speak from the Fed could bring in more USD sellers on gain taking. Dovish rhetoric may not be out of the question with the global inflation still falling and the global economy’s growth concerns still an issue, and the strong U.S. dollar may be a hinderance to the U.S. export economy down the road.  Let’s not forget what Greece will do next now that an anti-austerity party is in power.  So many uncertainties.
With so many uncertainties and the pair testing a major psychological area around 1.5000, I’m going with a conservative short entry near the top of the recent consolidation area highlighted in the chart above, and doing it with a small position with the intent to add if the trade does go my way. My stop will be my usual weekly ATR calculation and my max target will be the next major support level, last seen in May 2010.  Here’s what I am doing:
Short half position GBP/USD at 1.5200, stop 1.5400, max target at 1.4300
Remember to never risk more than 1% of a trading account on any single trade. Adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Risk Disclosure.


Re: GBP/NZD Forex Trade Review & GBP/USD Short Idea

HI Tuiwin,
In above sharing, are this manual trade or you have make this into EA for auto trade?
any indicator to be share?



Posts: 2

Pages 1

You must login or register to post a reply

Last Posts

  • 20/06: SZ_Scalper free
  • 20/06: For the beginners
  • 20/06: Best broker for beginners?
  • 20/06: Assar Ultra©™ High Frequency Forex Scalping in 2018
  • 20/06: forex thunerbolt indicator
  • 19/06: Aggressor3_Great EA
  • 19/06: new member is here
  • 18/06: Does anyone have QT Indicator?
  • 18/06: Really Profitable EA 50-100% monthly
  • 17/06: cashflow - MQ4 file (expert advisor)
  • 16/06: My EA ichimoku
  • 16/06: EA LAU albuquerque - MQ4 file (expert advisor)
  • 16/06: TrillionPipsEA
  • 16/06: Non-Lag Inverse Fisher of RSX indicator
  • 16/06: Ubat 5.0
  • 16/06: Blessing 3
  • 15/06: Afraid of losing money
  • 15/06: Trading decision after analysis
  • 15/06: Hey guy free EA for your test
  • 15/06: Infinity Scalper indicator
  • 14/06: Assar V11
  • 14/06: 1200 EA file in on folder for free
  • 14/06: How to select god broker?
  • 13/06: Universal One Min Scalper - MQ4 file (expert advisor)
  • 13/06: success in the forex market
  • 13/06: Risk & Money Management.
  • 13/06: Forex Trader.
  • 12/06: XTX Expert 2.0 backtest results 2015-2018 starting @3k
  • 12/06: forex grinder EA
  • 12/06: ole$ya-PRO EA V.1
  • 12/06: MT4 Account Management Service-Minimum Balance: $100 usd
  • 11/06: Secure Trading Life.
  • 11/06: Forex broker is a big deal.
  • 11/06: Capitalism Market.
  • 10/06: Forex for the freelancers
  • Hot Topics

  • ASSAR v8 (1042)
  • Scalper_v5 (free) (720)
  • A highly profitable Ea (465)
  • FX Magic Robot - Verified Live Working 3/13/17 (458)
  • 2000 pips daily (451)
  • ASSAR V9 (Trend Breakout Edition) 2017 Expert Advisor (417)
  • spartan bolt V6 (414)
  • Assar_03_EA (391)
  • Forex Earth Robot (249)
  • Trade-Arbitrage EA (248)
  • xmt scalper (227)
  • Forex Math EA free for Mt4 (180)
  • Super Signal Scalping Profit Statement (178)
  • Rabbit3 £100 start Zero to Hero Updated EA (167)
  • Fracture 7.4.0 (156)
  • high profit EA (151)
  • SCALPER PALING JOSS EA is a Holy Grail (150)
  • New to forex? (148)
  • Ilan Expert Advisor for Metatrader 4 (136)
  • EA SmartAssTrade. (133)
  • Monster Profit Forex Robot (123)
  • WayGrow EA 1.7 (111)
  • scalperstarkpro downoad free (price 90 dollars) (92)
  • FX Magic Robot (91)
  • IceFX TraderAgent Pro EA v2.5.1 (86)
  • Profitable GBPJPY EA (true results) (85)
  • Unbelievable EA (83)
  • Good EA 2017. Free !!! (63)
  • Hedge Expert Advisor (63)
  • 100 pips profits trading (63)
  • Best Indicator That No Repaint!!! (61)
  • Magic Fx Formula indicator-V2 (61)
  • BAR EA V5.1 (60)
  • hello (60)

  • NOTE: Hacked or other illegal versions of copyrighted forex robots are highly prohibited on If you upload any illegal version of any copyrighted forex robot, your forum account will be banned. No exceptions.


    Forum statistics

    • Total number of registered users: 19,591
    • Newest registered user: Nedloyd Chinedu Ogu
    • Total number of topics: 10,979
    • Total number of posts: 36,359

    Copyright Forum Rules - Privacy Policy.