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Trap the Market

  • #41
  • Jun 6, 2016 11:10am Jun 6, 2016 11:10am
Quoting KeenPips
One of the pairs I am currently watching is GN. If it retraces to the weekly pivot, which is in confluence with the immediate 4-H resistance zone, I will be disposed to go southward with it. Trade safe. KP
When will this be? I don't know. But in my books, that is the zone that suits me.
Do your homework, follow the footprints of smart money
  • #42
  • Edited 7:35am Jun 13, 2016 7:19am | Edited 7:35am
What are you doing to prepare yourself for the Brexit referendum? For me, as I have a number of open positions, I will be closing a few of them this week and watch others between now and next week Wednesday. For me, it's better to stay on the side line until the dust clears over the Brexit 'conundrum'. Trade safe.
Do your homework, follow the footprints of smart money
  • #43
  • Jun 13, 2016 8:22am Jun 13, 2016 8:22am
GU should be interesting to trade southwards if it pulls back to a significant pivot zone in confluence with a Fib level. This also applies to GN, which is a pair I am watching atm. Trade safe.
Do your homework, follow the footprints of smart money
  • #44
  • Jun 13, 2016 9:31am Jun 13, 2016 9:31am
A good number of traders on the EU thread are going for a bullish run atm. However, it seems better to wait for pa around the weekly pivot which the EU is approaching. Trade safe.
Do your homework, follow the footprints of smart money
  • #45
  • Jun 13, 2016 10:13am Jun 13, 2016 10:13am
Here, in the attached chart, is the location of the GPBNZD on the weekly chart atm. Any idea of what is happening? By my system, the pa is operating within a weekly S/R zone, which should be of interest for a bearish trade; more so with the RSI on both the weekly and monthly in alignment for a southern slope. The daily and 4-hourly charts seem to indicate that the pa is re-testing the daily pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDWeekly_June 13, 2016.png Size: 21 KB
Do your homework, follow the footprints of smart money
  • #46
  • Jun 14, 2016 1:02pm Jun 14, 2016 1:02pm
Tip: Trapping the market involves building a trading edge over the market on a consistent basis. This is not a matter of winning 5-10 trades but showing consistency over many (say hundreds of ) trades during which the trader's net results show remarkable profit.
Do your homework, follow the footprints of smart money
  • #47
  • Jun 14, 2016 1:27pm Jun 14, 2016 1:27pm
Quoting KeenPips
Tip: Trapping the market involves building a trading edge over the market on a consistent basis. This is not a matter of winning 5-10 trades but showing consistency over many (say hundreds of ) trades during which the trader's net results show remarkable profit.
Does having a profitable trading edge mean that the trader cannot have losing streaks?
Do your homework, follow the footprints of smart money
  • #48
  • Jun 15, 2016 11:59am Jun 15, 2016 11:59am
In building a profitable trading edge, does it matter which type of trade order you use? Which order type would you prefer- market execution, stop order or limit order?
Do your homework, follow the footprints of smart money
  • #49
  • Jun 15, 2016 1:26pm Jun 15, 2016 1:26pm
Current USDCAD price action can be interesting. If a bearish rejection candle forms at the monthly pivot, that should be a significant signal for a bearish trade. That location is also in confluence with the 50 Fib level. Trade safe.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_4H_June_15,_2016.png Size: 24 KB
Do your homework, follow the footprints of smart money
  • #50
  • Jun 15, 2016 1:56pm Jun 15, 2016 1:56pm
Quoting KeenPips
Current USDCAD price action can be interesting. If a bearish rejection candle forms at the monthly pivot, that should be a significant signal for a bearish trade. That location is also in confluence with the 50 Fib level. Trade safe. {image}



Note also that the zone is a daily S/R zone. Thus, if a 4-H bullish candle forms in the zone, we may have a role flip and potential for a bullish trade.
Do your homework, follow the footprints of smart money
  • #51
  • Jun 21, 2016 2:27am Jun 21, 2016 2:27am
Not trading GU today as I have a number of positions I am monitoring. But the GU is potentially northward-moving for about 120 pips to the next resistance on the weekly chart around the 1.49 area unless fundamentals cause an upset. Trade safe.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Next_Resistance_Zone_Weekly_June_21,_2016.png Size: 21 KB
Do your homework, follow the footprints of smart money
  • #52
  • Jun 21, 2016 9:24am Jun 21, 2016 9:24am
Imho, trapping the market will require using both the HTFs/ S/R zones and the set-up TF S/R zones. Any opinions on this?
Do your homework, follow the footprints of smart money
  • #53
  • Jun 23, 2016 1:56pm Jun 23, 2016 1:56pm
If you would gain a trading advantage over the market you need to have an efficient, functional trading system. Imho, that is just the basic. There is more. Beyond getting an efficient, functional trading system, the discipline to wait patiently for the market structure to favour your trading criteria is critical to your building a profitable trading edge.
Do your homework, follow the footprints of smart money
  • #54
  • Jun 24, 2016 3:55am Jun 24, 2016 3:55am
Now watching GBPNZD. A retracement to the WP, which is in confluence with the next weekly resistance zone, seems to have a good potential for a southward trade. Trade safe.
Do your homework, follow the footprints of smart money
  • #55
  • Jun 24, 2016 3:59am Jun 24, 2016 3:59am
Quoting KeenPips
Now watching GBPNZD. A retracement to the WP, which is in confluence with the next weekly resistance zone, seems to have a good potential for a southward trade. Trade safe.
Same can be said of GBPJPY, which is also in confluence with the 62 Fib level.
Do your homework, follow the footprints of smart money
  • #56
  • Jun 27, 2016 7:17am Jun 27, 2016 7:17am
EURUSD bearish disposition persists but timing is key.
Do your homework, follow the footprints of smart money
  • #57
  • Jun 27, 2016 7:41am Jun 27, 2016 7:41am
UCAD currently testing the 200 DMA and in the region of a weekly resistance. It should be interesting how pa pans out. Likely potential for a southward push. Trade safe.
Do your homework, follow the footprints of smart money
  • #58
  • Jun 27, 2016 8:01am Jun 27, 2016 8:01am
Quoting KeenPips
UCAD currently testing the 200 DMA and in the region of a weekly resistance. It should be interesting how pa pans out. Likely potential for a southward push. Trade safe.


Talking about the EURUSD, if the price action on the 4 hour chart rejects the weekly S/R zone being currently tested, then a reversal is much likely in the cards. Otherwise the bearish disposition persists.
Do your homework, follow the footprints of smart money
  • #59
  • Jun 27, 2016 9:25am Jun 27, 2016 9:25am
Quoting KeenPips
UCAD currently testing the 200 DMA and in the region of a weekly resistance. It should be interesting how pa pans out. Likely potential for a southward push. Trade safe.


Also watch AUDUSD pa as it pierces the 200 DMA southward; enhancing the potential for further southward move.
Do your homework, follow the footprints of smart money
  • #60
  • Jun 28, 2016 3:17am Jun 28, 2016 3:17am
Bearish tone persists on the EURUSD but timing is key. If the price action re-tests and bounces off the 4-H resistance zone (1.1100 to 1.11260), which is also aligned with a weekly resistance zone, the potential for a successful bearish trade will be greater. Trade safe.
Do your homework, follow the footprints of smart money
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