EUR/GBP - What a great pair to trade!

In long on this pair at 240 but mat need to give it some breathing space. Targets, 380, 450 and 550.

Good targets u got there. I'm going for - at least 0.8438.
The trends be with u.

Seems to be breaking at the moment but think 240 needs to hold up if it retraces back to retest. Good luck with your trade.

Good call squawk but how did you know it would break through .8250? I'm going to have to watch you.

Hi Smikester,


Re above this was the breakaway point for the bulls where we got liquidity in balance (chart below). These nearly always fill in unless its a substantial break away news event that that causes a liquidity gap and then sticks which can take a lot longer to fill.


Check them out sames patterns and fills happen even at the fractal level. This was just a larger time frame. You will see these all day everyday on all time frames. Trick is to pick when they are turning to fill which is normally from another fill move being filled from price further back. If you scroll back in your charts you will notice all inefficients moves being filled in. Most people won't understand these levels or understand why there trades retrace quickly and take them out needing to fill in the moves.


Below is the 1 hr chart for this pair with recent liquidity gaps being filled in with similar patterns. This is why I cut my last longs at 300 as there was just to much of a liquidity in balance with inefficient move up for it to last and 300 level was the first gap that needed to be filled on the upside.

PS Euro gap being filled in today from weeks ago. You will see inefficient run ups below marked pink squares so I would expect bull run up not to last unless it fills in below. Looking for a pattern tomorrow to confirm short. May also run a few more pips up to between 920 and 940.

PS NZ/USD waiting for gap to fill but may not on until a little latter as very bullish pair however shorted to fill the gap once we got the double top rejection.

PS GBP/US Have shorted this pair with gaps below but may be a little early but have scaled in low.

Thanks for sharing Squawk. This analysis approach reminds me of Stocky Monk who uses Point and Figure charts. Hasn't posted for a while, though.

Same here, I'm short at 1.67793. Already +50 pips. Bad thing is, i went in with such a low amount that it really doesn't amount to that much actual $.

[quote=smikester;7399682]{quote} Thanks for sharing Squawk. This analysis approach reminds me of Stocky Monk who uses Point and Figure charts. Hasn't posted for a while, though.[/quote

No worries

I will post a few more examples and then leave it as don't want to change tone of the thread. Although I do sometimes feel alone in here....

AUS/USD I'm bullish on this pair but trading a few shorter term trades. trade Yesterday and today. Red boxes are in balances to be filled, green boxes are the ones that were and have been filled. Small rectangle darker red boxes were entries and smaller green boxes were taken profit.

1 swing order in from top when reversal bar and action inside reversal bar gave a safe signal to short. Not always scalping but 2 scalps today if they are obvious trades. Taken profit on both the scalp orders. Will be watching swing trade as we may see around the 440 area again in the short term.

If this doesn't make sense let me know.

EUR/USD


Same again entry from yesterday at 900 but could shoot a little higher but doesn't need to. In balance has be filled on the left hand side, large green box and all the inefficient areas are below. there are none above. So if we break above we could be push into new up swing as new buyers are in the market.

USD/CHF




You can see here as well be have completed the pattern filling from weeks ago. Have taken positions here on the inefficiencies to be filled above. But as with Euro, CHF may weaken as it's coming of bearish run.

Same with KIWI as Aussie, very bullish, both currencies have to be tested lower but only shorter term sells at the moment. May see Kiwi test to 540 as seems a key re-test area.

Will let the thread return back to the pairs now.

Good luck with your trading.

Nice trade working out.

My shorts on the cable so far 3 positions.

Thanks. Wish I could say my way of trading was a developed as your. I am completely impressed by your level of understanding of how the market works. Me, I use 2 simple indicators and trade small so if my original position doesn't work out, I can recover it.