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Trap the Market

  • #721
  • Sep 10, 2019 12:05am Sep 10, 2019 12:05am
Many of the pairs on my watch list, EUR/USD, GBPUSD, GBPCAD, AUDUSD and NZDUSD, are disposed northwards at the moment. However, the technical outlook is bearish in the medium to long term and I will wait for a retracement to a value area before deciding which of them I will short. For example, retracement of the AUDUSD price action to the 0.69120/0.69430 zone, with a bearish setup on at least the H4 time frame, will pique my interest

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #722
  • Sep 10, 2019 12:18am Sep 10, 2019 12:18am
The AUDUSD is grinding southwards within a falling channel (blue) on the D1 time frame and the likely area of retracement within which I hope to look for a sell trading setup is bound by magenta horizontal lines.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_September 10, 2019.png Size: 57 KB


Quoting KeenPips
Many of the pairs on my watch list, EUR/USD, GBPUSD, GBPCAD, AUDUSD and NZDUSD, are disposed northwards at the moment. However, the technical outlook is bearish in the medium to long term and I will wait for a retracement to a value area before deciding which of them I will short. For example, retracement of the AUDUSD price action to the 0.69120/0.69430 zone, with a bearish setup on at least the H4 time frame, will pique my interest I may be wrong. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #723
  • Sep 26, 2019 4:29pm Sep 26, 2019 4:29pm
XAUUSD price action is presently sideways but I am tracking it for a northward pullback to an area of value, perhaps to the most recent daily high, before looking for a feasible sell trading setup.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #724
  • Sep 28, 2019 8:14pm Sep 28, 2019 8:14pm
Fellow swing trader, How is it going.
  • #725
  • Sep 29, 2019 2:04am Sep 29, 2019 2:04am
Hello everyone!

May the situation on the screenshot be counted as trapping the market? Sorry if not exactly feet to what is being discussed here, but I just couldn't pass by the topic name. By the way I would like to speak more on such kind of models and situations, nut I'm a newcomer on this forum, so still can't create my own thread...

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 23 KB
  • #726
  • Sep 29, 2019 7:01am Sep 29, 2019 7:01am
Hello KP, It seems like your trading H4 chat quite some time.
I have some questions to you?
1. Are you still trade h4 chart successfully.
2. Are you profitable now a days?
3. If your still swing traders, what are the challenges you face over the year.
Thanks your, Hope for the best.
MA provides the market's current direction and strength.
  • #727
  • Edited 10:22am Sep 29, 2019 9:58am | Edited 10:22am
Hello mate! I am a swing trader most of the time, say 80% of my trades using mainly the daily time frame for setups/signals. A key challenge for any swing trader is understanding the market conditions and adopting the right strategies. For example, a trending market is amenable to trading mean reversions and pullbacks while a ranging market would require identifying the more feasible extreme to swing trade from. Of course, there is the need to know when to day trade certain pairs rather than swing trade them. Regarding success or failure, I like to keep it personal. I rarely discuss my successes or failures on any forum.

Trade safe.

KP

Quoting hasib
Hello KP, It seems like your trading H4 chat quite some time. I have some questions to you? 1. Are you still trade h4 chart successfully. 2. Are you profitable now a days? 3. If your still swing traders, what are the challenges you face over the year. Thanks your, Hope for the best.
Do your homework, follow the footprints of smart money
  • #728
  • Nov 3, 2019 12:56pm Nov 3, 2019 12:56pm
I am bearish AUDUSD. Here's why and here's how.

The AUDUSD market has generally disposed bearish for quite a while. On the daily time frame, price action is operating in a falling channel (magenta). Presently, it is located near the channel resistance trendline and in confluence with the 0.69130/ 0.69200 minor horizontal resistance where a relatively small bullish candlestick was printed last Friday. Note that an indecision candlestick was printed on Thursday in the same area after a bullish drive into the area on Wednesday. This indicates a slowing down of bullish momentum. If price action breaches this area northwards, we may see bulls target the horizontal resistance in the 0.70050/0.70990 zone. But a failure on the part of bulls will give bears the incentive for a southward turnaround from the zone. Basically, a bullish drive is not likely to be sustainable, technically speaking. It will soon give way to a southward turnaround at an area of value

I may be wrong. Trade safe and prosper.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_Novembe 3, 2019.png Size: 33 KB
Do your homework, follow the footprints of smart money
  • #729
  • Nov 7, 2019 2:44am Nov 7, 2019 2:44am
The XAUUSD market is one I have been tracking this week. I am looking for a breakdown of the 1480/82 area for a bearish drive. In the past few days, price action has teased the area a couple of times but each tease has been followed with a northward recoil. However, no bullish momentum has taken place. Is the area due for a breakdown? I am watching!

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #730
  • Dec 2, 2019 3:17pm Dec 2, 2019 3:17pm
I am tracking the NZDUSD pair this week and will look for a bearish setup within the significant horizontal resistance zone of 0.65590/0.65970 (bound by red horizontal lines). Apart from being a significant resistance on the monthly time frame, the area falls within the 50/68.2 Fib retracement zone of the dominant recent downleg on the weekly time frame.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily_December 2, 2019.png Size: 120 KB
Do your homework, follow the footprints of smart money
  • #731
  • Dec 2, 2019 3:26pm Dec 2, 2019 3:26pm
Presently, price action is at the 38.2 Fib retracement area and a bearish setup in the area may be tempting. But, I prefer to wait for a feasible bearish set up within the 0.65590/0.65970 zone as I look for a higher reward/risk ratio.

KP

Quoting KeenPips
I am tracking the NZDUSD pair this week and will look for a bearish setup within the significant horizontal resistance zone of 0.65590/0.65970 (bound by red horizontal lines). Apart from being a significant resistance on the monthly time frame, the area falls within the 50/68.2 Fib retracement zone of the dominant recent downleg on the weekly time frame. I may be wrong. Trade safe and prosper. KP {image}
Do your homework, follow the footprints of smart money
  • #732
  • Dec 5, 2019 7:16am Dec 5, 2019 7:16am
The EURUSD momentum is bullish. But as the longer term mode is southwards, any buy trade should be traded with caution and for a brief profit. A more feasible trade will be a sell trade after a northward push to an area of value.

I may be wrong. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #733
  • Dec 10, 2019 2:55am Dec 10, 2019 2:55am
thanks for this thread. As a swing trader am happy to find mates. I also started with scalping but I brew my accounts almost 3 times. later after reading several books and watching several videos I realised that am best suited for swing trading. As already mentioned swing trading requires patience and discipline especially on trade entry. most of times when I spot an opportunity I wait until my conditions are met.
1st condition is that, "I don't jump into a moving car" here I mean when ever am late and the signal has already been activated I do not jump in. I would rather wait for retracement or stay away.
2nd condition is that, I put buy or sell limit in a level where most people put their stop loss. most of traders jump into breakout or reversals, and they usually put stop loss on daily high/low. so whenever there is a retracement they get taken out and my order is activated and fresh. If there is no retracement I move on to another pray. for me thus how I trap the market.

below is nzdusd, for me the bearish signal has been activated, but I will not jump in until price retrace to 0.65670.

As already said its my trading view and it doesn't mean I disapprove OTHERS trading system.
Attached Image (click to enlarge)
Click to Enlarge Name: bentmax.png Size: 43 KB
I trade like the banks
  • #734
  • Dec 11, 2019 8:43am Dec 11, 2019 8:43am
Thank you mate for a good contribution. I like your two conditions. I am particularly impressed with the second condition: entrying where most traders' stop losses are hunted or trapped.

Trade safe.

KP

Quoting bentbysmart
...I also started with scalping but I blew my accounts almost 3 times. later after reading several books and watching several videos I realised that am best suited for swing trading. As already mentioned swing trading requires patience and discipline especially on trade entry. most of times when I spot an opportunity I wait until my conditions are met. 1st condition is that, "I don't jump into a moving car" here I mean when ever am late and the signal has already been activated I do not jump in. I would rather wait for retracement or stay away....
Do your homework, follow the footprints of smart money
  • #735
  • Dec 11, 2019 8:54am Dec 11, 2019 8:54am
If you are tracking the EURJPY, you may be interested in a possible zone flip around the significant 121.000/122.150 horizontal resistance zone (bound by red horizontal lines). This may mean a validation of the falling trendline from the high of January 2018 (blue). I will wait for it.

I may be wrong. Trade safe.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily_December 11, 2019.png Size: 131 KB
Do your homework, follow the footprints of smart money
  • #736
  • Dec 12, 2019 1:29am Dec 12, 2019 1:29am
I am watching price action on GBPUSD for possible sell trading opportunity at an area that may surprise the crowd. Nothing will surprise in a long trade at the moment, but a sell trading opportunity at the 1.32700 signnificant horizontal resistance zone is what I am looking for. Any bearish setup in the area on an H4 closing basis will pique my interest. A shocking result at the UK general election will give the trade the fuel.

I may be wrong. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #737
  • Dec 12, 2019 2:47am Dec 12, 2019 2:47am
Just sharing

The Forex trading business is purely about risk taking. But it should be calculated and affordable risks. If you are not comfortable with risk taking or you have not yet mastered how to to take calculated risks, you will not last in the business.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #738
  • Dec 12, 2019 3:29am Dec 12, 2019 3:29am
thanks mate. forex is easy and more easy if you have and follow your trading plan.
I trade like the banks
  • #739
  • Dec 12, 2019 6:59am Dec 12, 2019 6:59am
just trapped gold. just now
Attached Image (click to enlarge)
Click to Enlarge Name: jojo.png Size: 39 KB
I trade like the banks
  • #740
  • Dec 12, 2019 7:46am Dec 12, 2019 7:46am
GOLD/USD is sideways/ranging. An active zone for price action presently is 1453.80/1487.70. So be careful how you trade it.

I may be wrong. Trade safe.

KP

Quoting bentbysmart
just trapped gold. just now {image}
Do your homework, follow the footprints of smart money
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