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Price Trap Eur/Usd 1 MIN

  • #281
  • Sep 28, 2011 8:12am Sep 28, 2011 8:12am
Quoting oconnor365
Trap forming as we speak..??
This one?

Top: 1.36243
Bot: 1.36083
  • #282
  • Sep 28, 2011 8:17am Sep 28, 2011 8:17am
That would qualify as a mini trap for me. Good for 5 to 10 pips. It doesnt have the depth. Well, that is how I look at it.

Quoting Favorite
It was at 8:25 EST, the trap was only 9 pips high but I think it's still legit. I noticed this entry immediately but decided to pass it because of the news. It went up 13 pips but right after the news went south like a crazy.
  • #283
  • Sep 28, 2011 8:21am Sep 28, 2011 8:21am
Be careful takng the short. It might be just fake.

Quoting Favorite
Yes, it is moving down nicely, with 1.3661 it would already hit my 30 pips TP. Well, we live and we learn! Probably the next time I will be thinking not about the news, but about the system's rules!
  • #284
  • Sep 28, 2011 8:39am Sep 28, 2011 8:39am
Quoting forexforex
Be careful takng the short. It might be just fake.

forexforex, are you able to answer my questions on page 18 ?

which pairs are you trading at the moment ?


thanks
  • #285
  • Sep 28, 2011 8:49am Sep 28, 2011 8:49am
hi guys. Im new here and i see this system as very good. Still learning...

is this pic right please?
Attached Image (click to enlarge)
Click to Enlarge Name: 1m 01.gif Size: 22 KB
Lose small, WIN BIG..
  • #286
  • Sep 28, 2011 9:01am Sep 28, 2011 9:01am
A runner is when I take half off and leave the other half and let it run all the way with Stop Loss set close to breakeven.

For, example: Live right now >>> I went long @ 1.3626 with 2 lots. When it reaches my target at 1.3656 I take 1 lot off with a profit of 30 pips. I let the other lot run all the way north and set the SL to 1.3625, so if it goes south I only lose 1 pip. My runner usually is implemented when When I see clear trend, otherwise, I exit all at the target

I only trade EURUSD.

I use 1 hour TF to confirm my trades. I like to see a bigger picture. This comes through experience. If I had not look at the 1 Hr TF then I would have taken the short @ 1.3605 and getting stopped out with a loss trade. It just saves me trouble from taking the fakes move.
Please see my previous posts. i try to post my 1 hr chart as much as possible, but Raz' system, I think, doesn't consider the larger TFs yet, so I am hesitant in posting 1hr TF here. This is Raz' system and I don't have the right to cloud his methodology or interject my own technique if it has not supported yet but the author or the majority of the members.

Quoting whatfx
forexforex, are you able to answer my questions on page 18 ?

which pairs are you trading at the moment ?


thanks
  • #287
  • Sep 28, 2011 9:15am Sep 28, 2011 9:15am
i will be trading this method live tomorrow during london open. hope to see you all, so that we can trade together. my first time using this method !
  • #288
  • Sep 28, 2011 9:19am Sep 28, 2011 9:19am
Quoting forexforex
A runner is when I take half off and leave the other half and let it run all the way with Stop Loss set close to breakeven.

For, example: Live right now >>> I went long @ 1.3626 with 2 lots. When it reaches my target at 1.3656 I take 1 lot off with a profit of 30 pips. I let the other lot run all the way north and set the SL to 1.3625, so if it goes south I only lose 1 pip. My runner usually is implemented when When I see clear trend, otherwise, I exit all at the target

I only trade EURUSD.

I use 1 hour TF to confirm my trades. I like to see...

how would you confirm the trend using 1 hour chart ? how many candles do you look at ? eu is long term bearish at present.
  • #289
  • Edited 9:47am Sep 28, 2011 9:36am | Edited 9:47am
I look at the previous day, sometimes several days, and also the current day. No specific numbers of candles. Then I draw lines where i see the support and resistance or the point where Support/resistance are separated, then If the trap happens above the line I take the long. If it happens below the line I take the short. The probability of my wins have been increased since i have been doing this.

Quoting whatfx
how would you confirm the trend using 1 hour chart ? how many candles do you look at ? eu is long term bearish at present.
  • #290
  • Sep 28, 2011 9:47am Sep 28, 2011 9:47am
Quoting forexforex
I look at the previous day, sometimes 2 days, and also the current day. No specific numbers of candles. Then I draw lines where i see the support and resistance or the point where Support/resistance are separated, then If the trap happens above the line I take the long. If it happens below the line I take the short. The probability of my wins have been increased since i have been doing this.


  • #291
  • Sep 28, 2011 9:52am Sep 28, 2011 9:52am
So sometimes I have only 1 or 2 trades in a day, but good ones.

Quoting whatfx
  • #292
  • Sep 28, 2011 10:46am Sep 28, 2011 10:46am
Hello,

As I said in chat, in an effort to filter out some bad trades,
especially in volatile US session,
here are 2 indies that Draw S/R
One for monthly - weekly - daily open

and the other that needs GTM 0+ or +1 broker time (eg. Interbank - alpari UK) draws daily Fibonacci S/R
Attached File(s)
File Type: ex4 Fibonacci Pivots.ex4   5 KB | 327 downloads
File Type: mq4 Pivot Points Multitimeframe.mq4   49 KB | 370 downloads
  • #293
  • Sep 28, 2011 11:48am Sep 28, 2011 11:48am
One of my best trading days is today...when everything falls as planned.

I finally got a chance to draw my chart to show you guys how I trade this system. i apologize if I delineate from Raz' methodology. I already have two other systems that I am current watching so I wanted a 1 minute trading system that will keep me on my toes but simple. But I find it sometimes complicated because i have to readjust the dotted red lines ( 1 HR support/resistance) and the bold red lines ( 1 min current day analysis). But I keep it simple as possible and redraw the lines according to the past and developing trend.

I would like to start a thread so people here could help me draw also or if there is a programming indicator that can do the drawing, but I really don't have time right now to manage a thread. And besides, I want RAZ' system to develop and grow here as he finds his system already profitable.

Anyway, I leave you guys alone so you can implement Raz' methodology which I find it a little too aggressive for me.

Just wanted to show you guys that Raz' system is similar to my system and both profitable used systematically and carefully. The difference is that I look at higher TF and I draw and redraw the support/resistance lines for the current trading day for analysis. This works for me. The other difference is that my TakeProfit is 20-30 pips and I have a runner.

Raz: As I said before I am not comfortable yet using the spreadsheet. i
will gain confidence may be after demoing it. Thanks again for starting this thread. i hope that many will find it profitable.

forexforex
Attached Image (click to enlarge)
Click to Enlarge Name: Sep28 trades 72 pips.jpg Size: 362 KB
  • #294
  • Sep 28, 2011 12:11pm Sep 28, 2011 12:11pm
Thanks Cosmoras. This will definitely help me alot.

Quoting cosmoras
Hello,

As I said in chat, in an effort to filter out some bad trades,
especially in volatile US session,
here are 2 indies that Draw S/R
One for monthly - weekly - daily open

and the other that needs GTM 0+ or +1 broker time (eg. Interbank - alpari UK) draws daily Fibonacci S/R
  • #295
  • Sep 28, 2011 1:07pm Sep 28, 2011 1:07pm
Hello all, good work last night, and way to keep trading it. I am off to work soon. As of last night it didn't seem like I posted much in the thread, because of the skype room. I am not by any means abandoning the thread. However to post valid traps and entries is faster with skype.

I will post my live trades and traps at night, and hopefully try to explain as well when I am trading something or not. I appreciate all those who follow and keep up with this, and like Favorite and Forexforex keep it going.

Pmg.g Sorry for not answering your question, but I will try to get back to it as soon as I can.

So be on tonight, will post traps and entries tonight here on FF, but the skpye room(it's back to just one by the way) 'Price Trap Open Discussion' has been a very big hit with this method. Lot's of traders got in with me on the first trade and made the winner, even though it got 1 pip from stopping out.


I am starting to get a flood of questions, which I don't want to leave anyone hanging so feel free to ask again. As many of you are starting to realize this method is not hard to learn or trade, but it takes some guts to make entries. So again thanks for all the help Favorite and Forexforex on others I will be on later tonight.
Trade Like a Robot make money Like a Bank
  • #296
  • Sep 28, 2011 1:31pm Sep 28, 2011 1:31pm
Hi guys!

How to connect to that Skype Room? How do I find it on Skype?...

Regards!
  • #297
  • Sep 28, 2011 1:58pm Sep 28, 2011 1:58pm
Hey Raz

thanks for sharing the strategy with rest of us.I have a question considering what to do when we are stopped by sl. Should I execute sell (becose it waits on the other side of the tunnel) order or this price trap is busted and I have to wait for another to form in order to start new trade

Thanks
  • #298
  • Sep 28, 2011 2:09pm Sep 28, 2011 2:09pm
if I am not active, look for these users to add you in

for skype

active users:

phneutral
timjmaxwell
jagz
frederick mercier
peter pottage
peter porter

there are way more, but they are usually active through out.

Be back on later today
Trade Like a Robot make money Like a Bank
  • #299
  • Sep 28, 2011 2:10pm Sep 28, 2011 2:10pm
Quoting romboid112
Hey Raz

thanks for sharing the strategy with rest of us.I have a question considering what to do when we are stopped by sl. Should I execute sell (becose it waits on the other side of the tunnel) order or this price trap is busted and I have to wait for another to form in order to start new trade

Thanks

I wash my hands of that trade, and look for a new trap to form.
Trade Like a Robot make money Like a Bank
  • #300
  • Sep 28, 2011 4:52pm Sep 28, 2011 4:52pm
Quoting forexforex
That would qualify as a mini trap for me. Good for 5 to 10 pips. It doesnt have the depth. Well, that is how I look at it.
Thank you, forexforex!

And I also appreciate you sharing you H-1 confirmation method.
Gentlemen always play by the rules. If they can't, they change the rules.
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