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Price Trap Eur/Usd 1 MIN

  • #621
  • Oct 11, 2011 3:04am Oct 11, 2011 3:04am
Quoting phneutral
Trap 1: Winner for +35
this trade followed my rule of breaking above by 5-6 pips, and then closing above, before doing a retrace. it also followed your rule of a retrace to the trap line.

this was an example of an ideal trade. you can almost guarantee this trade would work and you can slam those pips.

when the above scenario occurs, the trade is yours to nail !
  • #622
  • Oct 11, 2011 3:49am Oct 11, 2011 3:49am
Trade 2: Looser, -18
Attached Image (click to enlarge)
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  • #623
  • Oct 11, 2011 3:49am Oct 11, 2011 3:49am
Quoting whatfx
this trade followed my rule of breaking above by 5-6 pips, and then closing above, before doing a retrace. it also followed your rule of a retrace to the trap line.

this was an example of an ideal trade. you can almost guarantee this trade would work and you can slam those pips.

when the above scenario occurs, the trade is yours to nail !
GJ, now for clarification I trade purely on price retracing back to entry line, but again this is me. Others have adapted to taking more trades on orders or variations of closes out of entry line. That is purely on how you want to trade and experiment.
Trade Like a Robot make money Like a Bank
  • #624
  • Oct 11, 2011 4:01am Oct 11, 2011 4:01am
Quoting phneutral
Trade 2: Looser, -18
I saw this trade but didn't take it. Obviously H-1 trend reversed and I decided to take only short trades for a while.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #625
  • Oct 11, 2011 4:07am Oct 11, 2011 4:07am
So, I tried to eye a price trap, not sure if I got it right though. Plz let me know, any constructive criticism is welcome.

Attached Image (click to enlarge)
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that circled area is a potential entry point, due to a clear bear bar outside the trap
Trends, breakouts, price action.
  • #626
  • Oct 11, 2011 4:50am Oct 11, 2011 4:50am
Trap 3: Looser -13
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  • #627
  • Oct 11, 2011 4:54am Oct 11, 2011 4:54am
Trap 4: looser -17
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  • #628
  • Oct 11, 2011 4:54am Oct 11, 2011 4:54am
Quoting phneutral
Trade 2: Looser, -18

this ones trap would have been difficult to establish. too many spikes on trap lines. without any precise levels of rejection. i would leave such trades out...
  • #629
  • Oct 11, 2011 5:00am Oct 11, 2011 5:00am
You are right. Kind of forced.

Will have attention on that.
  • #630
  • Oct 11, 2011 5:55am Oct 11, 2011 5:55am
Quoting aizazk
So, I tried to eye a price trap, not sure if I got it right though. Plz let me know, any constructive criticism is welcome.

Attachment

that circled area is a potential entry point, due to a clear bear bar outside the trap
Its ok. I only put lower level 1 pip down.

PH
  • #631
  • Edited 6:04am Oct 11, 2011 5:59am | Edited 6:04am
Quoting whatfx
this trade followed my rule of breaking above by 5-6 pips, and then closing above, before doing a retrace. it also followed your rule of a retrace to the trap line.

this was an example of an ideal trade. you can almost guarantee this trade would work and you can slam those pips.

when the above scenario occurs, the trade is yours to nail !
In your "ideal" trade, Could you please clarify your 5-6pip rule (or observation):

A) Are you refering to the breakout bar (ie breakout from the trap) Do you enter immediately half your position then?

or

B) Are you looking at the high point after the breakout - just before the pull back to the breakout level of the trap. If this is the case, how many bars would be ideal or the maximum no of bars allowed?

Thanks and Cheers.
  • #632
  • Oct 11, 2011 8:59am Oct 11, 2011 8:59am
is this a new trap at 1.3605 1.3585 ?!
Attached Image (click to enlarge)
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  • #633
  • Oct 11, 2011 1:39pm Oct 11, 2011 1:39pm
Quoting AlexA
is this a new trap at 1.3605 1.3585 ?!
It is.

Sorry. Big day of trades and was very hard to keep it updated here.

Just gonna post some more charts but join us at skype. We are doing a hell of a job there as a group.

Regards
PH
  • #634
  • Oct 11, 2011 1:42pm Oct 11, 2011 1:42pm
No shot for trap 5: It was a looser -22

Trap 6: Winner +27
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  • #635
  • Oct 11, 2011 1:44pm Oct 11, 2011 1:44pm
Trap 7: Winner +43 ( a mess of a trade )
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  • #636
  • Oct 11, 2011 1:57pm Oct 11, 2011 1:57pm
Traps 8 and 9: Winner: +27
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  • #637
  • Oct 11, 2011 2:03pm Oct 11, 2011 2:03pm
Trap 10: No entry
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  • #638
  • Oct 11, 2011 2:08pm Oct 11, 2011 2:08pm
Trap 11: Winner: +23
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  • #639
  • Oct 11, 2011 2:11pm Oct 11, 2011 2:11pm
Hi Guys
Have a question which I hope someone could answer. Lets say we have a trap and break to the upside, price moves away and we wait for retrace. Now, price moves back and goes below top of trap, at what point do we put the trade on? Do we do it now and risk trade carrying on down, or do we now wait for price again to exit trap to topside and buy at market ?
Hope this makes sense as am bit confused as to where to enter.
Kind Regards
Geoff
  • #640
  • Oct 11, 2011 2:15pm Oct 11, 2011 2:15pm
Quoting GEOFFREY62
Hi Guys
Have a question which I hope someone could answer. Lets say we have a trap and break to the upside, price moves away and we wait for retrace. Now, price moves back and goes below top of trap, at what point do we put the trade on? Do we do it now and risk trade carrying on down, or do we now wait for price again to exit trap to topside and buy at market ?
Hope this makes sense as am bit confused as to where to enter.
Kind Regards
Geoff
The signal you're waiting for when it breaks to the upside is to retrace into the trap. The goal is obviously to buy as low as possible. So, what I do is follow it down. The first time it moves to go back up, I figure that's as far as it is safe to push it, and that's when I buy. The same principle applies in reverse when it breaks to the downside.
"The only way to win the game is not to play." - B. S. Miller
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