Have a look at the following chart.
The blue box is where codemonkey took his position. Now I won't 'monday morning quaterback' his call, but you can see the amount of orders (the red lines) which were triggered by himself or his EA. Now the position which he took today was pretty silly because the price had already spiked almost 100 pips once he took the trade.
The chart below shows you WHY he took the trade.
If you see the box highlighted in blue, that was the last time EUR/NZD accumulated before dropping downwards, and recovering today. You can see his pending BUYS were made at the same level in which EUR/NZD accumulated several trading days ago. That is one of the dangers of trading support and resistance, is that at any given time a 'support' can be a 'resistance' or vica versa. So as of right now it is costing him 20 pips. He may end up closing those trades for profit, etc but the reality is he is simply wagering extension/reversal at the last accumulation level of a currency.