Trap the Market | Page 19 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trap Breaker 77 replies

Flexi Grid Trap EA 24 replies

How is a Bull trap formed? 3 replies

Price Trap Eur/Usd 1 MIN 808 replies

Helper EAs for Semi-auto trading and Manual trap setting 0 replies

Attachments: Trap the Market
Exit Attachments

Trap the Market

  • #361
  • Jul 16, 2017 4:54pm Jul 16, 2017 4:54pm
A good strategy will be to look for a retracement of price action on the H4 time frame to an area of value within the MA channels I watch before looking for a buy trading opportunity. The area I will be watching is mapped in the khaki-coloured channel on the H4 time frame (between 1.29143 and 1.30196).

Quoting KeenPips
You may consider this technical outlook if you are tracking cable this week. The pair has been in a consolidating mode since November 2016. Between November 2016 and March 2017 price action consolidated between 1.19890 and 1.26650. It then moved upwards for another phase of consolidation between 1.26650 and 1.30720. On the daily time frame, price action is operating distally in a clear ascending channel and the order flow context is strongly in favour of buyers. Furthermore, the technicals are in sync for further northward move. A likely target...
Do your homework, follow the footprints of smart money
  • #362
  • Jul 23, 2017 4:19pm Jul 23, 2017 4:19pm
Are you tracking EURUSD this week? Here's a technical outlook you may connsider.

On the daily time frame, price action has moved northward respecting an ascending trendline (navy colour) from the low of April 2017. A much likely follow-up price action is a retest of the trendline at an area of value, much likely at the most recent horizontal support zone; this is around the 1.14520 area. We may see a brief period of consolidation or a slight upward move of about 30-50 pips before this.

On the H4 time frame, price action has moved away from the outer ascending trendline (navy colour) seen on the daily time frame to respect an inner ascending trendline (magenta coour). The last H4 session on Friday resulted in a bearish pinbar or shooting star. If this is followed through by price action this week, we should expect a southward turnaround, perhaps to test the trendline. Should the trendline be broken southward, this may target the outer/lower trendline (navy colour), perhaps around the 1.14520 area.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_Daily_July_23,_2017.png Size: 46 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_H4_July_23,_2017.png Size: 42 KB
Do your homework, follow the footprints of smart money
  • #363
  • Jul 25, 2017 6:02am Jul 25, 2017 6:02am
Just sharing

If you want to effectively trap the markets, you don't wait until the markets open. You don't do it during the markets. You do it in a disciplined way involving pre-market opening analysis and define clear conditions and criteria which price action must meet as you wait for the markets to meet them.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #364
  • Jul 30, 2017 4:12pm Jul 30, 2017 4:12pm
Are you thinking of trading the EURUSD this week? You may wish to consider my technical perspective on the pair.

On the H4 time frame, price action has moved above the support trendline seen on the weekly time frame and is operating in an ascending channel (bound by two navy coloured lines). Last week, price action within the channel was largely ambivalent or sideways around the distal end of the channel. Apparently momentum for a bullish drive is weakening and we may see a southward turnaround this week, perhaps to target the 1.16170 area which is the origin of the most recent rally northward, or by extension the proximal channel line.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_H4_30th_July,_2017.png Size: 45 KB
Do your homework, follow the footprints of smart money
  • #365
  • Edited 5:00pm Aug 6, 2017 4:04pm | Edited 5:00pm
Here's a technical outlook you may consider if you are tracking EURUSD this week.

On the H4 time frame, price action had moved far above an outer ascending trendline (magenta colour) from the low of June 20 and momentum took it towards an upper tendline (khaki colour) which was rejected southward last week Friday. However, the last session of last week Friday saw buyers moving price toward testing the rejected trendline and this may happen in the early part of this week in line with the pinbar formation noted on the weekly time frame. Thereafter, price action is likely to head back southward and may target the immediate support zone between 1.16850 and 1.16187.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_H4_6th_August,_2017.png Size: 41 KB
Do your homework, follow the footprints of smart money
  • #366
  • Aug 7, 2017 7:27am Aug 7, 2017 7:27am
A lot of hype has been made about screen time. That a trader needs a lot of screen time. Really? If a trader spends a load of screen time without being focused on specific things and without identifying and assessing how they are progressing, is that what screen time is about? Imho, the emphasis should be on quality and focused screen time demonstrated in improved competence as a trader. What do you think?

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #367
  • Aug 8, 2017 5:11am Aug 8, 2017 5:11am
Just sharing

The bend is your friend when it continues to trend.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #368
  • Aug 8, 2017 5:20am Aug 8, 2017 5:20am
Your best trading of a trend is when it has just moved from a reversal or retracement.

Trade safe and prosper.

KP

Quoting KeenPips
Just sharing The bend is your friend when it continues to trend. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #369
  • Aug 13, 2017 3:19pm Aug 13, 2017 3:19pm
Just Sharing

You will find good preparation, thorough market analysis, preparing a trading plan for each trade you intend to take, and waiting for the right moment to strike helpful in the process of trapping the markets.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #370
  • Aug 13, 2017 3:39pm Aug 13, 2017 3:39pm
Here's a technical perspective you may find helpful if you are tracking the EURUSD for trading opportunities this week.

On the daily timeframe, price action was respecting a support trendline from the low of May 10, 2017. This formed an ascending channel with the high of March 28, 2017 (bound in navy coloured lines). The most recent price action is bullish in nature and showed increased momentum as an inner support trendline (chocolate colour) has developed. This may result in subsequent price action moving toward the distal channel line (navy colour), perhaps around the 1.19066 area, before any retracement is seen. As four price waves have consummated within the channel, we may see a fifth price wave heading southward after price action has tested the 1.19066 area. A potential target of a southward move is the immediate horizontal support around the 1.16205 area. This area is in confluence with the monthly pivot.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_Daily_13th_August,_2017.png Size: 45 KB
Do your homework, follow the footprints of smart money
  • #371
  • Aug 13, 2017 4:53pm Aug 13, 2017 4:53pm
If you are tracking USDCAD this week, you find this technical perspective helpful.

On the H4 time frame, price action is operating within an ascending channel (bound by magenta lines). Price action has made four price waves within the channel, with the fourth price wave bearing southward around the proximal channel line. Given that the bigger technical direction is southward, we may expect a bearish continuation to result from a breakout of the channel. Meanwhile, the technicals on the H4 time frame are mixed. Much likely, there will be a period of consolidation in the early part of this week before momentum for a bearish continuation materializes. What happens around the monthly pivot (1.26346) should be of interest.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Top-Down_Analysis_4H_13th_August,_2017.png Size: 45 KB
Do your homework, follow the footprints of smart money
  • #372
  • Aug 15, 2017 12:44pm Aug 15, 2017 12:44pm
Don't be fooled by the current upward move of the EURUSD. It's scalpers who can confidently go long for a few pips atm. There's a significant resistance trendline on the H4 timeframe and a barrier is in confluence with the daily and weekly central pivots.

As a swing trader I'm staying on the sidelines until that zone is rejected.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #373
  • Aug 20, 2017 4:14pm Aug 20, 2017 4:14pm
If you are tracking the GBPCAD this week, you may find the following top-down technical analysis helpful.

On the weekly time frame, the pair is respeting a resistance trendline (forest green colour) from the high of January 2016. Besides, an inner resistance trendline from the high of May 2017 has developed, (chocolate colour) which indicates an increased southward momentum. Last week, a relatively strong bearish candlestick formed, which rejected the monthly central pivot southward and pierced a strong support zone around the 1.62300 area. This candlestick appeared to be a follow through of the bullish rejection candlestick (or bearish pinbar) formed three weeks ago. Should sellers maintain control of the order flow, a likely target is the 1.59760 area.

On the daily time frame, the pair has been consolidating in an area that has served as a strong S/R zone for quite some time (represented in khaki coloured rectangle, bound by magenta coloured horizontal lines). The most recent price action on Friday pierced the area southward but we may expect a pullback to an area of value, perhaps to around the 1.63950 area, before any bearish continuation/follow through. Should a bearish follow through fail, we may see price action move further northward towards the distal part of the range, probably to around the 50/61.8 Fib retracement zone (between 1.64000 and 1.64980) of the drop from the swing high of August 3 to the low of August 18. This may be limited by the minor resistance line (navy coloured), as it is near the most immediate area of value technically.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Top-Down_Analysis_Weekly_20th_August,_2017.png Size: 41 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Top-Down_Analysis_Daily_20th_August,_2017.png Size: 46 KB
Do your homework, follow the footprints of smart money
  • #374
  • Aug 25, 2017 1:40am Aug 25, 2017 1:40am
Yesterday a whole lot of people on the popular thread dealing with EURUSD were aiming for longs when the price reached around the 1.18210 area. But a thorough technical analysis would have dictated or advised otherwise. At least the position should have been to stand aside for clarity in price action, particularly if you are a swing trader like me. An example of such an analysis is shown in the chart below.

Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Technical_Update_H4_August_25,_2017.png Size: 36 KB
Do your homework, follow the footprints of smart money
  • #375
  • Edited 5:33pm Aug 27, 2017 4:17pm | Edited 5:33pm
If you are tracking EURUSD, consider the following technical analysis.

The pair has been on an upside move since May 2017. Three weeks ago, the pair was in a sideways operation within an ascending channel in an area that has served as an S/R zone on a number of occasions in the past. Last week price action moved to retest the distal part of the zone around the 1.19066 area; an area it had rejected southward four weeks ago.

On the H4 time frame, price action is respecting a support trendline (magenta colour) from the low of June 20, 2017. For much of July and August 2017, price action was consolidating within a descending channel (bound by navy coloured lines). This was breached distally by over 140 pips last week. We may expect price action to retest the distal part of the channel or the trendline (magenta colour) before further upward move. A break of the trendline southward on at least a daily close is likely to target the next significant support zone around the 1.16650 area.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Top-Down_Analysis_H4_27th_August,_2017.png Size: 36 KB
Do your homework, follow the footprints of smart money
  • #376
  • Aug 27, 2017 4:59pm Aug 27, 2017 4:59pm
Here's why stepping aside on USDCAD for now is advisable from a technical perspective.

The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward.

On the H4 time frame, price action is respecting a resistance trendline (magenta colour) from the high of June 9, 2017. Although all technicals point to a bearish continuation, the last session on Friday saw the buyers influential. As price action is in an area of strong support, we may see some sideways operation for the early part of this week; any movement either upward or downward may be limited. It may be advisable to step aside for clarity in price action.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Top-Down_Analysis_H4_27th_August,_2017.png Size: 38 KB
Do your homework, follow the footprints of smart money
  • #377
  • Aug 28, 2017 1:12pm Aug 28, 2017 1:12pm
Quoting KeenPips
Here's why stepping aside on USDCAD for now is advisable from a technical perspective. The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward. On the H4 time frame, price action is respecting a resistance trendline (magenta colour) from...
My technical outlook on the USDCAD is bearish but I had stayed on the sidelines to wait for price action to retrace to an area of value. Once price action gives me the signal I am looking for around the 1.25310 area, I will look for a sell trading opportunity.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #378
  • Aug 29, 2017 1:45pm Aug 29, 2017 1:45pm
Quoting KeenPips
{quote} My technical outlook on the USDCAD is bearish but I had stayed on the sidelines to wait for price action to retrace to an area of value. Once price action gives me the signal I am looking for around the 1.25310 area, I will look for a sell trading opportunity. I may be wrong. Trade safe and prosper. KP
Still bearish technically on the USDCAD. Nothing had occurred that was of interest. However, a confluence area on the H4 time frame could be of interest for a short-term swing trading southward if price action gets there. The area is between 1.25794 and 1.26199 (bound in magenta coloured horizontal lines).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Technical_Update_H4_29th_August,_2017.png Size: 28 KB
Do your homework, follow the footprints of smart money
  • #379
  • Aug 29, 2017 2:05pm Aug 29, 2017 2:05pm
Short-term swing traders who are tracking the GBPCAD may be interested in the alignment of resistance trendlines on the H4, D1 and W1 time frames; respectively shown in magenta, navy and chocolate colours in the attached H4 chart. As long as the H4 and D1 trendlines hold, southward swing trading should be attractive.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Technical_Outlook_H4_29th_August,_2017.png Size: 30 KB
Do your homework, follow the footprints of smart money
  • #380
  • Edited 4:32pm Sep 3, 2017 4:15pm | Edited 4:32pm
If you are tracking GBPCAD this week, you may find the following top-down technical analysis helpful.

On the daily time frame, since June 2017, price action has been operating within a descending channel (bound in navy coloured lines). Last week Wednesday, it rejected the distal channel line with a strong bearish engulfing candlestick. This was followed up on Friday with another bearish move. Overall price wave formation indicates a third wave heading southward and we may expect this move to target the 1.57390 area.

The descending channel seen on the daily time frame (bound in navy coloured lines) is pronounced on the H4 time frame and the third price wave, which is bearing southward, is in play. Technically, nothing on the H4 time frame suggests anything different from a bearish continuation. And this move may target somewhere between 1.59995 and 1.59863 before a retracement occurs.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Top-Down_Analysis_Daily_Sept._3,_2017.png Size: 36 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Top-Down_Analysis_H4_Sept._3,_2017.png Size: 35 KB
Do your homework, follow the footprints of smart money
0 traders viewing now