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GBP/NZD Trade:

• Further to my last post wherein I entered the GBP/NZD trade, I revised my exit point to 2.4755 seeing that its Friday and profit taking would most likely occur after noon (EST timezone) and the Average Daily Range was literally blown out by a good 200 pips as the usual range is 377 wherein we experienced 578 today. Thus, it is highly unlikely that my original target of 2.4715 will be met within 4 hours (although its currently at 2.4740 w/lots of momentum on its side) and carrying the position over the weekend is rather risky and i’m not keen on letting all that profit disappear given that this pair is a high flyer.
• Anyhow, it is a great start to the month with +288 pips in the bank.

•Forex Positions for Today. (Nov. 6, 2007)

•Pretty Good Trading Day; 1 Trade on GBP-JPY Taken.

•Trading Summary for January. +706 pips.

•Results of remaining positions and February results.

•Trade Taken on EUR/AUD on 4-HR Chart. +117 Pips.