Price Trap Eur/Usd 1 MIN | Forex Factory

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Price Trap Eur/Usd 1 MIN

  • #1
  • First Post: Edited Feb 7, 2014 1:22pm Sep 23, 2011 12:29am | Edited Feb 7, 2014 1:22pm
I no longer trade this anymore.... it gave me a great learning experience, but in the end it did prove to be unpredictable.

thank you,
RAZ
2/7/14
Attached File(s)
File Type: xls Price Trap Calculator.xls   76 KB | 1,906 downloads | Uploaded Sep 26, 2011 8:50am
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  • #2
  • Sep 23, 2011 12:39am Sep 23, 2011 12:39am
Sample of start of trade
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.GIF Size: 58 KB
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  • #3
  • Sep 23, 2011 12:40am Sep 23, 2011 12:40am
Second part of trade, and last pic of trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur1.2.GIF Size: 60 KB
Click to Enlarge Name: eur1.3.GIF Size: 52 KB
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  • #4
  • Sep 23, 2011 12:44am Sep 23, 2011 12:44am
Since I use openoffice org, a freeware version of excel. I can e-mail you the ods. format which will quickly open up as a xls format. This will help you calculate your stops and take profits.
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  • #5
  • Sep 23, 2011 12:56am Sep 23, 2011 12:56am
I draw my timezone in which I only take trades.
Attached Image (click to enlarge)
Click to Enlarge Name: TIMEZONE.GIF Size: 44 KB
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  • #6
  • Sep 23, 2011 1:14am Sep 23, 2011 1:14am
Here is possible trap
Attached Image (click to enlarge)
Click to Enlarge Name: EUR1000.GIF Size: 56 KB
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  • #7
  • Sep 23, 2011 1:16am Sep 23, 2011 1:16am
might go south
Attached Image (click to enlarge)
Click to Enlarge Name: EUR999.GIF Size: 52 KB
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  • #8
  • Sep 23, 2011 1:22am Sep 23, 2011 1:22am
short eur

1.3485(entry point)
took trade at 1.3486

stop loss 1.3499
take profit 1.3454
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  • #9
  • Sep 23, 2011 1:27am Sep 23, 2011 1:27am
out for loss, but hey that is how it rolls. looking for a new price trap
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  • #10
  • Sep 23, 2011 1:43am Sep 23, 2011 1:43am
couldnt post right away, had to reset price trap, and it broke it and got in 4 pips past the entry point. So holding long right now, but hope it hgets to 1.3540
Attached Image (click to enlarge)
Click to Enlarge Name: EUR998.GIF Size: 56 KB
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  • #11
  • Sep 23, 2011 1:50am Sep 23, 2011 1:50am
of course 3 pips from take profit.
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  • #12
  • Sep 23, 2011 1:51am Sep 23, 2011 1:51am
nvm it hit, so closed at take profit 1.3540
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  • #13
  • Sep 23, 2011 2:00am Sep 23, 2011 2:00am
Quoting raz
nvm it hit, so closed at take profit 1.3540
Will follow with interest raz... what is nvm?

Pete
  • #14
  • Sep 23, 2011 2:06am Sep 23, 2011 2:06am
Got in same trade.... but a bit late cox try to understand the rules... however hit my TP still (demo)...
  • #15
  • Sep 23, 2011 2:16am Sep 23, 2011 2:16am
When you see price rejection both up and down, those are your upper and lower levels. The area in between is the trap? Price rejection is when price moves quickly (say, more than a 45 degree angle) off of an upper or lower level. Have I got this right?
"The only way to win the game is not to play." - B. S. Miller
  • #16
  • Sep 23, 2011 2:22am Sep 23, 2011 2:22am
Quoting CalistogaKid
When you see price rejection both up and down, those are your upper and lower levels. The area in between is the trap? Price rejection is when price moves quickly (say, more than a 45 degree angle) off of an upper or lower level. Have I got this right?

Yes my definition of price rejection is when hits an area, and quickely flys away from it. the trap is price between the upper and lower levels. So angle not so much, but just when price decides to run away from the area.
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  • #17
  • Sep 23, 2011 2:22am Sep 23, 2011 2:22am
Quoting pedross
Will follow with interest raz... what is nvm?

Pete

nvm-nevermind. While I was posting that post, it hit TP
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  • #18
  • Sep 23, 2011 2:28am Sep 23, 2011 2:28am
Quoting raz
Yes my definition of price rejection is when hits an area, and quickely flys away from it. the trap is price between the upper and lower levels. So angle not so much, but just when price decides to run away from the area.
Then, in order to be sure it's price consolidation, the trap has to be at least 11 minutes long and 9 to 23 pips deep. We wait for price to break out of the trap. If it breaks high, we go long. If it breaks low, we go short. Am I getting this right?
"The only way to win the game is not to play." - B. S. Miller
  • #19
  • Sep 23, 2011 2:32am Sep 23, 2011 2:32am
Quoting CalistogaKid
Then, in order to be sure it's price consolidation, the trap has to be at least 11 minutes long and 9 to 23 pips deep. We wait for price to break out of the trap. If it breaks high, we go long. If it breaks low, we go short. Am I getting this right?
yup!
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  • #20
  • Sep 23, 2011 2:42am Sep 23, 2011 2:42am
I think I'm getting this. Now correct me if I'm wrong. On the chart, I have an upper and lower level, but still waiting for the breakout. Or is this trap too deep?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd110923.jpg Size: 46 KB
"The only way to win the game is not to play." - B. S. Miller
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