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Trap the Market

  • #521
  • Feb 21, 2018 5:25pm Feb 21, 2018 5:25pm
If you are tracking XAUUSD (GOLD), don't feel tempted to go for a long trade. It is better to wait for price action to enter a significant support zone, preferably a weekly time frame support zone. Technically, the market is still bearish but we may see a reaction for a northward turnaround around the 1315.90 area.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #522
  • Feb 21, 2018 5:36pm Feb 21, 2018 5:36pm
Quoting KeenPips
If you are tracking XAUUSD (GOLD), don't feel tempted to go for a long trade. It is better to wait for price action to enter a significant support zone, preferably a weekly time frame support zone. Technically, the market is still bearish but we may see a reaction for a northward turnaround around the 1315.90 area. Trade safe and prosper. KP
Looking for any sell entry?
The true method of knowledge is experiment - W. Blake
  • #523
  • Feb 21, 2018 5:37pm Feb 21, 2018 5:37pm
See attached H1 chart; likely turnaround zone is bound by purple coloured horizontal lines.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_Tech_Update_H1_22nd_Feb.,_2018.png Size: 37 KB


Quoting KeenPips
If you are tracking XAUUSD (GOLD), don't feel tempted to go for a long trade. It is better to wait for price action to enter a significant support zone, preferably a weekly time frame support zone. Technically, the market is still bearish but we may see a reaction for a northward turnaround around the 1315.90 area. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #524
  • Feb 21, 2018 5:44pm Feb 21, 2018 5:44pm
Quoting KeenPips
See attached H1 chart; likely turnaround zone is bound by purple coloured horizontal lines. I may be wrong. Trade safe and prosper. KP {image} {quote}
That level is related by 1.382 extencion fib of last movement. looks nice.
The true method of knowledge is experiment - W. Blake
  • #525
  • Feb 21, 2018 5:52pm Feb 21, 2018 5:52pm
Good observation. Note the previous wicky price action (candlestick formations) around the zone on the H4 time frame. However, we have to wait for the right setup before looking for a buy trading opportunity around the zone.

Trade safe and prosper.

KP

Quoting aneuronal
{quote} That level is related by 1.382 extencion fib of last movement. looks nice.
Do your homework, follow the footprints of smart money
  • #526
  • Feb 22, 2018 7:14am Feb 22, 2018 7:14am
Be wary of XAUUSD (Gold). Why is price action on Gold ambivalent so far? There is still a target of bears southward; remember yesterday's post and the zone indicated. Any fundamental news may be seized upon to drive price action to the zone before a northward turnaround.

KP

Quoting KeenPips
If you are tracking XAUUSD (GOLD), don't feel tempted to go for a long trade. It is better to wait for price action to enter a significant support zone, preferably a weekly time frame support zone. Technically, the market is still bearish but we may see a reaction for a northward turnaround around the 1315.90 area. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #527
  • Feb 23, 2018 6:28am Feb 23, 2018 6:28am
Here's a video on trading with knowledge of market makers' techniques. I have no financial interest in the presenter.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #528
  • Feb 23, 2018 6:52am Feb 23, 2018 6:52am
Quoting KeenPips
Here's a video on trading with knowledge of market makers' techniques. I have no financial interest in the presenter. KP https://www.youtube.com/watch?v=6WDcmI-pwOE
These videos are pretty good, I've already seen several of them.
Thanks for sharing KP,

Francisco
The true method of knowledge is experiment - W. Blake
  • #529
  • Feb 23, 2018 6:53am Feb 23, 2018 6:53am
Thanks mate. Green pips to you.

KP

Quoting aneuronal
{quote} These videos are pretty good, I've already seen several of them. Thanks for sharing KP, Francisco
Do your homework, follow the footprints of smart money
  • #530
  • Feb 23, 2018 7:02am Feb 23, 2018 7:02am
Hi mate! If you come across insightful videos that could help fellow forum members master market structure or gain a profitable edge in the market, please share them here.

Trade safe and prosper.

KP

Quoting aneuronal
{quote} These videos are pretty good, I've already seen several of them. Thanks for sharing KP, Francisco
Do your homework, follow the footprints of smart money
  • #531
  • Feb 23, 2018 7:39am Feb 23, 2018 7:39am
Quoting KeenPips
Hi mate! If you come across insightful videos that could help fellow forum members master market structure or gain a profitable edge in the market, please share them here. Trade safe and prosper. KP {quote}
If you want to see my readings or whoever who wants, I have the folder of the books that I read in google drive. If you or anyone who wants it, just send me a PM with your mail to add them and send them the link. The folder is private for copyright reasons.

Green pips to you too mate.

Francisco

Edit: I also add others as I read them.
The true method of knowledge is experiment - W. Blake
  • #532
  • Feb 23, 2018 7:52am Feb 23, 2018 7:52am
Thanks for the information. Well done.

KP

Quoting aneuronal
{quote} If you want to see my readings or whoever who wants, I have the folder of the books that I read in google drive. If you or anyone who wants it, just send me a PM with your mail to add them and send them the link. The folder is private for copyright reasons. Green pips to you too mate. Francisco Edit: I also add others as I read them.
Do your homework, follow the footprints of smart money
  • #533
  • Feb 23, 2018 1:37pm Feb 23, 2018 1:37pm
I'm thinking about a possible long entry in Silver 16.40-16.44. Some feedback?
The true method of knowledge is experiment - W. Blake
  • #534
  • Feb 23, 2018 3:07pm Feb 23, 2018 3:07pm
Hi mate! I am not by my charts at the moment. However, I don't track silver. The only metal I track is gold.

Trade safe and prosper.

KP

Quoting aneuronal
I'm thinking about a possible long entry in Silver 16.40-16.44. Some feedback?
Do your homework, follow the footprints of smart money
  • #535
  • Feb 25, 2018 3:42pm Feb 25, 2018 3:42pm
I am bearish on EURJPY. Here's why, from a technical perspective.

On the daily time frame, price action has broken down an ascending channel (magenta) within which it has operated since September 2017. The technical structure on the daily time frame favours a bearish continuation. A likely target of bears is the 127.830 area, which is confluence with the lowest point of the channel support; this may extend to the 126.430 area.

On the H4 time frame, the angle of the descending trendline (navy) suggests a strong bearish mood. We may not see more than a feeble northward pullback until bears take price action further down. The technicals are synced in favour of bears.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Top-Down_Analysis_D1_Feb._25,_2018.png Size: 44 KB



Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Top-Down_Analysis_H4_Feb._25,_2018.png Size: 42 KB
Do your homework, follow the footprints of smart money
  • #536
  • Feb 26, 2018 9:41am Feb 26, 2018 9:41am
A series of ascending trendlines has formed on the GBPUSD, e.g. on weekly, H4 and H1 time frames. Current price action is trying to break down the H1 ascending trendline (magenta) which has served as a support for a while. Should bears succeed in this, the next target is the ascending trendline (red) formed on the H4 time frame.

Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Tech_Update_H1_27th_Feb.,_2018.png Size: 45 KB
Do your homework, follow the footprints of smart money
  • #537
  • Feb 28, 2018 11:16am Feb 28, 2018 11:16am
Beware, today is end of the month and profit taking is very much part of the game. Don't be fooled by extreme market moves.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #538
  • Feb 28, 2018 11:26am Feb 28, 2018 11:26am
If you are tracking USDCAD, note that the technicals still favour further northward move and a likely target of bulls is the 1.29160 area.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Tec_Update_H4_28th_Feb.,_2018.png Size: 43 KB
Do your homework, follow the footprints of smart money
  • #539
  • Edited 3:29pm Mar 3, 2018 3:14pm | Edited 3:29pm
A key step in how I try to trap the markets is doing a top-down technical analysis of a few selected pairs. I have just concluded a screening of the 10 pairs on my watch list. Technically I have a strong interest in trading the USDJPY and EURJPY southward next week. However, this does not mean that I will not consider the prevailing market conditions or wait for the right moment to enter a trade. Part of trapping the market is waiting for the markets to meet your conditions or enter some predetermined boundaries or zones.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #540
  • Mar 4, 2018 3:19pm Mar 4, 2018 3:19pm
Are you tracking GBPJPY? Yen has been technically stronger than most of its peers since December 2018. The current risk sentiment, with the uncertainties surrounding Brexit negotiation, presents a favorable fundamental condition to be bearish on GBPJPY. Of course, we should be aware that market perception is key and the prevailing market direction should guide our trading. That being said, on a technical basis, GBPJPY continues to bear southward.

On the H4 time frame, price action since late February 2018 has been primarily bearish and the order flow context has been much in favour of bears. A resistance trendline (magenta) is very much at play. However, bulls attempted to take price action northward in the latter part of last week Friday; by the early part of this week, they may push for a retracement to retest the trendline or the immediate minor horizontal resistance zone around 146.39/147.370. Such a move is much likely to be corrective. But it is important to remember that there is still a support trendline (navy) below, which was seen on the weekly time frame. Therefore, we may not see a sustained southward momentum until this support trendline is broken down by price action on a daily closing basis. A breakdown of the support trendline on a four-hourly closing basis is likely to require a retest before we can have confidence in a sustained southward momentum.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_Top-Down_Analysis_H4_Mar._4,_2018.png Size: 47 KB
Do your homework, follow the footprints of smart money
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