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Trap the Market

  • #801
  • Aug 11, 2020 3:10pm Aug 11, 2020 3:10pm
Yes, the 1-2-3 reversal pattern can be powerful, and if it flows with a Tom Demark's trendline, e.g. a short trendline through swing #2, will likely yield a feasible trade setup.

KP

Quoting peterhenders
...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...
Do your homework, follow the footprints of smart money
  • #802
  • Aug 11, 2020 3:40pm Aug 11, 2020 3:40pm
You may find the below video helpful for market scanning. Note: I have no financial interest in the presenter, neither am I holding him up as a 'guru' to follow.

Stay safe, trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #803
  • Aug 13, 2020 5:12am Aug 13, 2020 5:12am
The AUDUSD market is largely sideways. A potentially feasible sell trading opportunity can be found in the USDCHF market, much likely with a breakdown of the 0.90000 area.

KP

Quoting KeenPips
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
  • #804
  • Aug 13, 2020 5:50am Aug 13, 2020 5:50am
At the time of writing this there could be a trap point on ej 126.641 where price may give a reversal signal off this area....Fingers crossed nd good luck
  • #805
  • Aug 13, 2020 6:46am Aug 13, 2020 6:46am
This is likely to be a corrective move southward on an ltf as the intra-day htf (e.g. H4) technically still favours bulls.

KP

Quoting peterhenders
At the time of writing this there could be a trap point on ej 126.641 where price may give a reversal signal off this area....Fingers crossed nd good luck
Do your homework, follow the footprints of smart money
  • #806
  • Aug 13, 2020 6:49am Aug 13, 2020 6:49am
The 127.600 area is technically the operating horizontal resistance and susceptible to a southward turnaround.

Stay safe, trade safe.

KP

Quoting KeenPips
This is likely to be a corrective move southward on an ltf as the intra-day htf (e.g. H4) technically still favours bulls. KP {quote}
Do your homework, follow the footprints of smart money
  • #807
  • Aug 13, 2020 5:20pm Aug 13, 2020 5:20pm
Quoting KeenPips
The 127.600 area is technically the operating horizontal resistance and susceptible to a southward turnaround. Stay safe, trade safe. KP {quote}
I thought this thread was about "Trap The Market" as yesterday I posted a trap point and you refered it to likely to be a corrective move ( are we now talking about WAVES?) I gave the level at 126.641 which was near enough to be perfect and well before it happened. In this sense to Trap the market a 40 - 50 pip move on $300.00 account will allow a trader to double up the lot size on each trade for 20 to 30 trades and finnish with well over $1 million. THIS IS TRAPPING THE MARKET!
  • #808
  • Aug 13, 2020 6:00pm Aug 13, 2020 6:00pm
Thanks mate for your observation and comment. That was over 10 hours ago. Yes, the thread is about getting technical zones, boundaries, confluence areas etc for trapping the market and using proper trading rules/strategies that foster an edge in the markets. However, you would have observed from my posts in this thread that I am not a day trader, I am largely a swing trader. So we may trade differently. If that call worked out for you, I am happy for you. My swing trading makes me look for high reward/risk potential as I tend to leave my positions open for several days.

Trade safe mate.

KP

Quoting peterhenders
{quote} I thought this thread was about "Trap The Market" as yesterday I posted a trap point and you refered it to likely to be a corrective move ( are we now talking about WAVES?) I gave the level at 126.641 which was near enough to be perfect and well before it happened. In this sense to Trap the market a 40 - 50 pip move on $300.00 account will allow a trader to double up the lot size on each trade for 20 to 30 trades and finnish with well over $1 million. THIS IS TRAPPING THE MARKET!
Do your homework, follow the footprints of smart money
  • #809
  • Aug 13, 2020 6:06pm Aug 13, 2020 6:06pm
Thanks mate and I am also a swing trader, mostly, from ej I place another line at 126.221 but this time it serves two purposes 1) to watch for a break below this line and 2) if I get this break (today only) then I know it will be a strong chance for a swing trade. If not then it is no skin off my nose.
Trade well guys
  • #810
  • Aug 13, 2020 6:13pm Aug 13, 2020 6:13pm
Good to know how you trade mate. There are swing traders that trade ranges or level to level, but they tend to close their positions on a daily basis or after two days max. I swing trade trend or reversal/mean reversion mainly based on a multi-time frame analysis and tend to leave my positions open for days. On some occasions, like when the markets are sideways and if I see good setups, I may day trade but not scalp.

Stay safe, trade safe.

KP

Quoting peterhenders
Thanks mate and I am also a swing trader, mostly, from ej I place another line at 126.221 but this time it serves two purposes 1) to watch for a break below this line and 2) if I get this break (today only) then I know it will be a strong chance for a swing trade. If not then it is no skin off my nose. Trade well guys
Do your homework, follow the footprints of smart money
  • #811
  • Aug 13, 2020 10:08pm Aug 13, 2020 10:08pm
Quoting KeenPips
Good to know how you trade mate. There are swing traders that trade ranges or level to level, but they tend to close their positions on a daily basis or after two days max. I swing trade trend or reversal/mean reversion mainly based on a multi-time frame analysis and tend to leave my positions open for days. On some occasions, like when the markets are sideways and if I see good setups, I may day trade but not scalp. Stay safe, trade safe. KP {quote}
Yes mate I dont know how many traders I have spoken to who cannot or will not hold a trade overnight, maybe they scare off from the swaps or their just scalpers.
I can call a trade , like a trap point, but I cannot scalp, I dont know why (maybe because I'm far to stupid) but scalping and me are not good friends. I love reversal and most price action patterns where I find the setups from the weekly or daily charts- I'm never down below the 4hr as I find the lower time frames simply annoying.
From the past few years there seems to be a huge amount of difference learning and dealing with the OPEN price as a sole analysis relating to the style of trading throughout a trend and as of right now e/j just shot off a sell signal in which I spoke of a few hours ago.

All the best mate,
Take care
  • #812
  • Aug 14, 2020 12:54am Aug 14, 2020 12:54am
You have hinted on the importance of having a trading style that matches one's personality. That was something I learned several years ago. I started as a scalper and was bleeding losses whereas some other traders are fully comfortable and doing well scalping. On another matter, I saw that you had not been posting much since joining FF, and would like to encourage you to do so. I believe you have some experience and knowledge a good number of members will find valuable. From the first day I joined the FF, I made my mind up to share valuable ideas with members, and I create time for that because I trade less often; I have found that in the Forex trading business, less is more.

Stay well, trade safe.

KP

Quoting peterhenders
{quote} Yes mate I dont know how many traders I have spoken to who cannot or will not hold a trade overnight, maybe they scare off from the swaps or their just scalpers. I can call a trade , like a trap point, but I cannot scalp, I dont know why (maybe because I'm far to stupid) but scalping and me are not good friends. I love reversal and most price action patterns where I find the setups from the weekly or daily charts- I'm never down below the 4hr as I find the lower time frames simply annoying. From the past few years there seems to be a huge...
Do your homework, follow the footprints of smart money
  • #813
  • Aug 18, 2020 6:07am Aug 18, 2020 6:07am
Before making a directional trade, protect yourself against much frustration by first looking left on the immediate htf to see the next technical zone. If the prevailing resistance or support zone is too close, wait for a significant breakout or a bounce of price action.

KP
Do your homework, follow the footprints of smart money
  • #814
  • Sep 21, 2020 5:13am Sep 21, 2020 5:13am
The USDCAD price action on the daily time frame is on a northward retracement. A bounce off the 1.3310 horizontal resistance area is will likely yield a feasible bearish continuation. The area is also the 50 Fib of the southward continuation from July 20.

I may be wrong. Stay safe, trade safe.

KP
Do your homework, follow the footprints of smart money
  • #815
  • Sep 21, 2020 5:15am Sep 21, 2020 5:15am
See attached chart.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily_September 21, 2020.png Size: 44 KB


Quoting KeenPips
The USDCAD price action on the daily time frame is on a northward retracement. A bounce off the 1.3310 horizontal resistance area is will likely yield a feasible bearish continuation. The area is also the 50 Fib of the southward continuation from July 20. I may be wrong. Stay safe, trade safe. KP
Do your homework, follow the footprints of smart money
  • #816
  • Sep 22, 2020 9:32pm Sep 22, 2020 9:32pm
As many traders have said this “ market is supreme “, which means we can never time the market or trap it at any level. Speculators do this, but not traders. Wait for the market to show the trend and then take your bets. You will always find yourself on the loosing side while trapping the market.
  • #817
  • Sep 23, 2020 1:19am Sep 23, 2020 1:19am
Nothing wrong with analysing the market and having some expectations as long as you wait for price action to show its hands. Not having a plan based on solid market analysis is more problematic. You can trap the market if you know what you are doing. It doesn't mean that you will never have a loss.

Stay safe, trade safe and you will prosper.

KP
Quoting perryjohn765
As many traders have said this “ market is supreme “, which means we can never time the market or trap it at any level. Speculators do this, but not traders. Wait for the market to show the trend and then take your bets. You will always find yourself on the loosing side while trapping the market.
Do your homework, follow the footprints of smart money
  • #818
  • Sep 23, 2020 2:45am Sep 23, 2020 2:45am
Building your skill in structure-based market analysis and price action insight would facilitate your trading effectiveness and efficiency. Below is a video you may learn a few things from. As always, I have no financial interest in the presenter, neither am I holding him up as a 'guru' to follow.

Stay safe, trade safe and you will prosper.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #819
  • Jan 19, 2021 2:29am Jan 19, 2021 2:29am
EURUSD price action is presently on a northward retracement. Technically, bears are still favoured and a sell limit around 1.21200/1.21400 will likely be a feasible trade.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #820
  • Jan 19, 2021 3:16am Jan 19, 2021 3:16am
Just Sharing

No matter what trading system you use, if you want to trap the market more than being trapped by the market, you have to be selective and patient.

KP
Do your homework, follow the footprints of smart money
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