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Trap the Market

  • #781
  • Edited 4:51pm Apr 24, 2020 7:22am | Edited 4:51pm
Just Sharing

Even if you are a scalper, do a top-down analysis of the markets you want to trade 1-2 hours before the market opens and use the H4 time frame for a short-term directional bias. Doing this would lose you less money and help you make more money

KP
Do your homework, follow the footprints of smart money
  • #782
  • May 19, 2020 4:54am May 19, 2020 4:54am
Based on my weekly technical analysis, which I post every Sunday at the weekly top-down technical analyses thread, this week I am bearish GBPUSD. A review of current technical outlook on EURUSD is pointing to a potential bearish turnaround, particularly after the current bullish drive. I will watch how price action handles the 1.23000 GU and the 1.10000 EU zones for feasible bearish swing trading setups.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #783
  • May 21, 2020 2:45pm May 21, 2020 2:45pm
Here's an update on the levels I hinted on Monday. Both levels, 1.23000 for GBPUSD and 1.10000 for EURUSD, are delivering.

I am not always right. Trade safe and prosper.

KP

Quoting KeenPips
Based on my weekly technical analysis, which I post every Sunday at the weekly top-down technical analyses thread, this week I am bearish GBPUSD. ...I will watch how price action handles the 1.23000 GU and the 1.10000 EU zones for feasible bearish swing trading setups...
Do your homework, follow the footprints of smart money
  • #784
  • May 21, 2020 2:57pm May 21, 2020 2:57pm
If you want to trap the markets, always think about the prevailing price action and momentum, and potentially best locations for entering/exiting.

KP

Quoting KeenPips
Here's an update on the levels I hinted on Monday. Both levels, 1.23000 for GBPUSD and 1.10000 for EURUSD, are delivering. I am not always right. Trade safe and prosper. KP {quote}
Do your homework, follow the footprints of smart money
  • #785
  • Edited 3:28pm May 21, 2020 3:16pm | Edited 3:28pm
Also remember, the emphasis is to trap the markets; not to chase the markets. So, after doing your home work on the nature, direction and behaviour of the market you are tracking, decide on your strategies, scenarios and levels/zones; then wait for the market to give you the setup you want to see within your level/zone of interest.

KP

Quoting KeenPips
If you want to trap the markets, always think about the prevailing price action and momentum, and potentially best locations for entering/exiting. KP {quote}
Do your homework, follow the footprints of smart money
  • #786
  • May 22, 2020 2:53am May 22, 2020 2:53am
I rarely trade on Fridays but when I do, I limit myself to the London session and do intra-day trading. Based on my present technical analysis I will look to trade the EURGBP on the buy side from the 0.89400/0.89500 zone (magenta) if price action retraces there. There was a 78.6 Fib retracement to the 0.89400 area earlier which I missed. I will await a retest of the level or the 61.8 Fib around 0.89500.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4_May 22, 2020.png Size: 57 KB
Do your homework, follow the footprints of smart money
  • #787
  • May 22, 2020 3:13am May 22, 2020 3:13am
Price action on the H4 tf is presently within a range (blue) of a positively disposed market. I will look for a buy trading opportunity should it retrace to the 78.6 Fib zone (1.39300/1.39500) or retest the rising trendline (magenta).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4_May 22, 2020.png Size: 74 KB
Do your homework, follow the footprints of smart money
  • #788
  • May 22, 2020 8:10am May 22, 2020 8:10am
An intra-day trade will have a higher probability of succeeding if taken in a direction on which the technicals on both the D1 and H4 tf are in alignment. If not, we can see sideways of price action, and only trade for a small profit based on the price action momentum on the H4 tf. Share your experience or opinion on this mater here.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #789
  • May 25, 2020 2:57pm May 25, 2020 2:57pm
Today being a slow moving day, particularly so because of the public holidays in the USA and the UK, should offer an ample opportunity for traders to position themselves for the week. Already identified zones or levels would have been re-examined in view of today's price action. I will be looking for feasible opportunities to sell the following pairs: AUDUSD, EURGBP, EURUSD and GBPUSD.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #790
  • Jun 3, 2020 7:16pm Jun 3, 2020 7:16pm
The XAUUSD price action on the H4 time frame has rejected last week's low and is likely to retrace towards the neckline of the M formation on the H4 tf.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4_June 4, 2020.png Size: 60 KB
Do your homework, follow the footprints of smart money
  • #791
  • Jun 3, 2020 7:16pm Jun 3, 2020 7:16pm
The XAUUSD price action on the H4 time frame has rejected last week's low and is likely to retrace towards the neckline of the M formation on the H4 tf.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #792
  • Jun 3, 2020 7:18pm Jun 3, 2020 7:18pm
See attached.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4_June 4, 2020.png Size: 63 KB



Quoting KeenPips
The XAUUSD price action on the H4 time frame has rejected last week's low and is likely to retrace towards the neckline of the M formation on the H4 tf. I may be wrong. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #793
  • Jun 8, 2020 3:50am Jun 8, 2020 3:50am
GBPAUD is a pair I will be tracking for a feasible short trade during the week. I am not trading today, as I rarely trade on Mondays. GBPAUD price action is at a horizontal support area that has held since October 10, 2019. On the daily time frame it is within a falling channel (blue). A pull back to an area of value, such as the 1.83800 area, will pique my interest for a short trade.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily_June 8, 2020.png Size: 49 KB
Do your homework, follow the footprints of smart money
  • #794
  • Jun 9, 2020 2:12am Jun 9, 2020 2:12am
The GBPAUD is still on my radar. Its price action is gradually inching to the zone I am interested in for a potential sell trade.

KP

Quoting KeenPips
GBPAUD is a pair I will be tracking for a feasible short trade during the week. I am not trading today, as I rarely trade on Mondays....On the daily time frame it is within a falling channel...A pull back to an area of value, such as the 1.83800 area, will pique my interest for a short trade...
Do your homework, follow the footprints of smart money
  • #795
  • Jun 9, 2020 5:12am Jun 9, 2020 5:12am
The ultimate area for sustained bearish reversal on GBPUSD is the 1.25600 area. Should price action break down the area, we are likely to have an increase in bearish drive.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #796
  • Jun 11, 2020 2:54pm Jun 11, 2020 2:54pm
Patience is important, particularly for swing trading. The price action on the GBPAUD is now within the zone I am tracking. Now, I will wait for a feasible bearish setup on the H4 time frame.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily_June 11, 2020.png Size: 49 KB


Quoting KeenPips
GBPAUD is a pair I will be tracking for a feasible short trade during the week....On the daily time frame it is within a falling channel (blue). A pull back to an area of value, such as the 1.83800 area, will pique my interest for a short trade....
Do your homework, follow the footprints of smart money
  • #797
  • Aug 11, 2020 2:10pm Aug 11, 2020 2:10pm
As a swing trader, I will be watching the AUUSD 0.70000 horizontal support area for a possible bearish breakdown and a role flip for a southward continuation.

Stay safe, trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #798
  • Aug 11, 2020 2:41pm Aug 11, 2020 2:41pm
Hello all,
I just read through this thread after seeing it was very similar to my way of trading. The 10 and 20 ema are great but I also place high concentration of the daily OPEN with the previous days close as I seem to get a picture of how the day will flow. There is very strong evidence that pivots can trap the price but I find this more rewarding if the pivots are used for rejections rather than directions, like the 20 ema is used to trap the move.
Probably on of the best TRAP patterns is the 1-2-3 pattern, as it can kill two birds with one stone, and the Closing Price reversal pattern.
Taking untested sup/res areas is also good but the best of all is to find levels where it shows ( sticks out like dogs balls) that it will work in your favor.
All the best guys,
  • #799
  • Aug 11, 2020 3:02pm Aug 11, 2020 3:02pm
Good post, good contribution mate.

Stay safe, trade safe and prosper.

KP

Quoting peterhenders
Hello all, I just read through this thread after seeing it was very similar to my way of trading. The 10 and 20 ema are great but I also place high concentration of the daily OPEN with the previous days close as I seem to get a picture of how the day will flow. There is very strong evidence that pivots can trap the price but I find this more rewarding if the pivots are used for rejections rather than directions, like the 20 ema is used to trap the move. Probably on of the best TRAP patterns is the 1-2-3 pattern, as it can kill two birds with one...
Do your homework, follow the footprints of smart money
  • #800
  • Aug 11, 2020 3:05pm Aug 11, 2020 3:05pm
The two short EMAs, e.g. 10 and 20 EMAs, are really used for mean reversion trading and pivots/Fibs are for confluence purpose.

KP

Quoting peterhenders
...The 10 and 20 ema are great but I also place high concentration of the daily OPEN with the previous days close as I seem to get a picture of how the day will flow. There is very strong evidence that pivots can trap the price but I find this more rewarding if the pivots are used for rejections rather than directions, like the 20 ema is used to trap the move...
Do your homework, follow the footprints of smart money
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