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Trap the Market

  • #761
  • Feb 21, 2020 2:46am Feb 21, 2020 2:46am
I am amused by the GBPAUD market. Technically, I expect the market to be disposed further north. Look at the weekly time frame; a lot of room from present location of price action to the next horizontal resistance around 1.97460.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #762
  • Mar 23, 2020 9:30am Mar 23, 2020 9:30am
It is interesting to see that the USD is performing poorly compared to its major peers at the moment. That should be good news to swing traders positioning themselves for sell trading opportunities in the next few days, particularly on EURUSD, GBPUSD and AUDUSD.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #763
  • Mar 24, 2020 1:27am Mar 24, 2020 1:27am
you are right my mate, even xauusd shows its going up now. that's signalling the onset of dollar weakness
I trade like the banks
  • #764
  • Mar 24, 2020 4:32am Mar 24, 2020 4:32am
XAUUSD is erratic. So trade safe and protect your trading capital. Trade the prevailing momentum and use a proper stop loss, e.g. place your stop loss behind a market structure.

KP

Quoting bentbysmart
you are right my mate, even xauusd shows its going up now. that's signalling the onset of dollar weakness
Do your homework, follow the footprints of smart money
  • #765
  • Mar 24, 2020 6:28am Mar 24, 2020 6:28am
Thanks for ur advice @KeenPips i appreciate, 1 hour ago i had a long position on Xau/Usd and closed with profit
  • #766
  • Mar 26, 2020 3:21am Mar 26, 2020 3:21am
I am happy for you.

Trade safe.

KP

Quoting Luciano26
Thanks for ur advice @KeenPips i appreciate, 1 hour ago i had a long position on Xau/Usd and closed with profit
Do your homework, follow the footprints of smart money
  • #767
  • Mar 26, 2020 3:30am Mar 26, 2020 3:30am
I don't trade USDCHF but I am seeing it as exciting in these times. Tracking it top-down, it should be interesting if its price action makes a retracement to the 0.98380/0.99080 area (bound by magenta horizontal lines). An area where I will look for a feasible sell trading opportunity.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFDaily_March 26, 2020.png Size: 52 KB
Do your homework, follow the footprints of smart money
  • #768
  • Apr 2, 2020 4:39am Apr 2, 2020 4:39am
I am tracking the EURUSD market. On the H4 time frame, price action is presently consolidating below a broken-down trendline (red). A retest of the 1.10400/1.1180 area (bound by magenta horizontal lines) for a role flip will give me an opportunity to look for a sell trade. The immediate target will be the 1.080220 area.

I may be wrong.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_April 2, 2020.png Size: 46 KB
Do your homework, follow the footprints of smart money
  • #769
  • Apr 2, 2020 4:46am Apr 2, 2020 4:46am
If you are tracking this pair, giving its present price action, how would you trade it should it be of interest to you?

KP

Quoting KeenPips
I am tracking the EURUSD market. On the H4 time frame, price action is presently consolidating below a broken-down trendline (red). A retest of the 1.10400/1.1180 area (bound by magenta horizontal lines) for a role flip will give me an opportunity to look for a sell trade. The immediate target will be the 1.080220 area. I may be wrong. KP {image}
Do your homework, follow the footprints of smart money
  • #770
  • Apr 2, 2020 5:07am Apr 2, 2020 5:07am
The below chart gives an idea of possible trade entry scenarios. For an intra-day sell trade, if the price action bounces off the sandybrown line; if price action breaks above it with a retest on a lower time frame, a buy trade can be considered intra-day for a small profit. For me, as a swing trader, I will wait for price action to enter the magenta area and look for a sell trade signal.

I may be wrong.

KP

Quoting KeenPips
If you are tracking this pair, giving its present price action, how would you trade it should it be of interest to you? KP {quote}



Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_2_April 2, 2020.png Size: 49 KB
Do your homework, follow the footprints of smart money
  • #771
  • Apr 8, 2020 4:08am Apr 8, 2020 4:08am
Here's a top-down technical outlook on EURUSD. The momentum favours bears. On the H1 tf, the immediate horizontal support is around 1.07830/1.07680 (bound by light green horizontal lines), while the immediate horizontal resistance is around 1.08910/1.09300 (bound by horizontal magenta lines). Any bearish setup that shows a rejection of the 1.08910/1.09300 zone is likely to offer a good reward:risk ratio sell trade.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_April 8, 2020.png Size: 53 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1_April 8, 2020.png Size: 46 KB
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  • #772
  • Apr 8, 2020 4:30am Apr 8, 2020 4:30am
From the D1 and H4 tfs, cable is still sideways. Advisably, only a brief directional trade may be taken. Any swing trader may have to step aside for now.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_April 8, 2020.png Size: 23 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4_April 8, 2020.png Size: 27 KB
Do your homework, follow the footprints of smart money
  • #773
  • Apr 8, 2020 4:51am Apr 8, 2020 4:51am
Probable breakout zone and targets:
present price action channel: 1.23435/1.23070 (sandy brown lines)
probable target for a northward breakout: 1.24780/1.25420 (magenta lines)
probable target for a southward breakout: 1.21690/1.20910 (light green lines)

This is not a signal suggestion and I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4_2_April 8, 2020.png Size: 43 KB


Quoting KeenPips
From the D1 and H4 tfs, cable is still sideways. Advisably, only a brief directional trade may be taken. Any swing trader may have to step aside for now. I may be wrong. Trade safe and prosper. KP {image} {image}
Do your homework, follow the footprints of smart money
  • #774
  • Apr 8, 2020 7:24am Apr 8, 2020 7:24am
Quoting KeenPips
I am amused by the GBPAUD market. Technically, I expect the market to be disposed further north. Look at the weekly time frame; a lot of room from present location of price action to the next horizontal resistance around 1.97460. I may be wrong. Trade safe and prosper. KP
you are right, but the movement of pound is unpredictable for now
I trade like the banks
  • #775
  • Apr 8, 2020 7:31am Apr 8, 2020 7:31am
Yes, see posts #772 and 773 above.

Trade safe.

KP

Quoting bentbysmart
{quote} you are right, but the movement of pound is unpredictable for now
Do your homework, follow the footprints of smart money
  • #776
  • Apr 15, 2020 4:14am Apr 15, 2020 4:14am
Just sharing

Patience is the ultimate tool in the the arsenal to trap the markets. You do your analyses, you identify directional bias and reaction zones on the appropriate higher time frames and you go to your trading/entry time frame to track price action. Once a market falls within your trading zone and meets your entry criteria, you pull the trigger as dictated by your trading system.

KP
Do your homework, follow the footprints of smart money
  • #777
  • Edited 4:49am Apr 15, 2020 4:28am | Edited 4:49am
Keep your trading simple and be patient with the markets.

Keep safe, trade safe.

KP

Quoting KeenPips
Just sharing Patience is the ultimate tool in the the arsenal to trap the markets. You do your analyses, you identify directional bias and reaction zones on the appropriate higher time frames and you go to your trading/entry time frame to track price action. Once a market falls within your trading zone and meets your entry criteria, you pull the trigger as dictated by your trading system. KP
Do your homework, follow the footprints of smart money
  • #778
  • Apr 15, 2020 3:03pm Apr 15, 2020 3:03pm
simplicity and patience is the greatest tool in trading, market makers now knows that most of traders have mastered the most usual setups like head and shoulder, triangle, M, and inverted M patterns, now they are killing a lot of traders with fake of such setups. but with shrewdness and patience, some are able to come out with profits
I trade like the banks
  • #779
  • Apr 15, 2020 3:42pm Apr 15, 2020 3:42pm
That is a good observation mate.

KP

Quoting bentbysmart
simplicity and patience is the greatest tool in trading, market makers now knows that most of traders have mastered the most usual setups like head and shoulder, triangle, M, and inverted M patterns, now they are killing a lot of traders with fake of such setups. but with shrewdness and patience, some are able to come out with profits
Do your homework, follow the footprints of smart money
  • #780
  • Apr 24, 2020 5:47am Apr 24, 2020 5:47am
While some of the GBP crosses are bearish, be careful with GBPAUD. If you are tempted to short it at its current location you may be trapped. Just compare the technical outlook of D1 and W1 tfs. We still have a bullish mode in play even though there has been a bearish price action recently. On the W1 tf, market operation is at a confluence zone of a horizontal support and a rising trendline (blue).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDWeekly_April 24, 2020.png Size: 48 KB
Do your homework, follow the footprints of smart money
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