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Trap the Market

  • #61
  • Jun 28, 2016 9:15am Jun 28, 2016 9:15am
All FX majors and GBP crosses are currently testing the gap created last Friday. So 'mind you the gap'; watch the major market outlook before you commit to long-term positions. Trade safe.
Do your homework, follow the footprints of smart money
  • #62
  • Jun 28, 2016 11:45am Jun 28, 2016 11:45am
Nuggets:

'Don’t focus on making money, focus on protecting what you have.' - Paul Tudor Jones, a market wizard
Do your homework, follow the footprints of smart money
  • #63
  • Jun 29, 2016 7:18am Jun 29, 2016 7:18am
Trading can be made easy by long, adequate and focused preparation. All you need is to be disciplined in executing what you came up with during your preparation. Put simply: the key is solid preparation and disciplined execution.
Do your homework, follow the footprints of smart money
  • #64
  • Jun 29, 2016 7:33am Jun 29, 2016 7:33am
Quoting KeenPips
Trading can be made easy by long, adequate and focused preparation. All you need is to be disciplined in executing what you came up with during your preparation. Put simply: the key is solid preparation and disciplined execution.


The hard part, really, is the preparation and being disciplined in trading.
Do your homework, follow the footprints of smart money
  • #65
  • Jun 30, 2016 12:59pm Jun 30, 2016 12:59pm
Ranging market atm on on the pairs I watch. A probable pair that worths attention seems to be UJ; going long upon retracement.
Do your homework, follow the footprints of smart money
  • #66
  • Jul 1, 2016 5:42am Jul 1, 2016 5:42am
Tip:

A top-down analysis of pairs on your watch list will be facilitated by using a combination of RSI and ADX on the weekly chart. Trade safe.
Do your homework, follow the footprints of smart money
  • #67
  • Jul 1, 2016 6:44am Jul 1, 2016 6:44am
EURUSD outlook atm? There is potential for a southward push upon bouncing off the hourly 200 EMA which is near both the MP and WP. Trade safe.
Do your homework, follow the footprints of smart money
  • #68
  • Jul 5, 2016 10:43am Jul 5, 2016 10:43am
Central to trapping the market is defining the boundary and boundary conditions under which you want to watch, stalk and trap the market. In the process, price-turning zones or levels will be crucial but how price performs across the time frames within the boundary is key to effective trade timing. Thus, a swing trader may use a higher time frame, say 4H, for his/her set-up time frame, but will have to scan lower time frames for efficient timing of trade entry and trapping of price action. Trade safe.
Do your homework, follow the footprints of smart money
  • #69
  • Jul 6, 2016 8:22am Jul 6, 2016 8:22am
I have set up a trend line framework for a bearish trade on NZDJPY, using confluence zones. My goal is to trap the pair for a southward push upon a retest of the confluence area and a second rejection of the trend line. See attached. Trade safe.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY_Torendline_Trading_July_6,_2016.png Size: 23 KB
Do your homework, follow the footprints of smart money
  • #70
  • Jul 6, 2016 8:44am Jul 6, 2016 8:44am
Learn some trapping-the-market ideas from Larry Willams. Click to listen to an interview with Larry Wiliams.

Trade safe.
Do your homework, follow the footprints of smart money
  • #71
  • Jul 6, 2016 9:00am Jul 6, 2016 9:00am
Quoting KeenPips
Learn some trapping-the-market ideas from Larry Willams. Click to listen to an interview with Larry Wiliams. Trade safe.


Tips from Larry Williams:

1. Have a set of conditions, at least three, you want to see the market meet before you enter the trade.

2. Trade your personality, use a trading style and strategy that fit your personality

3. Don't use indicators, redundantly; use a few indicators that complement themselves - each must serve a purpose which facilitates your trading-decision making.
Do your homework, follow the footprints of smart money
  • #72
  • Jul 6, 2016 9:16am Jul 6, 2016 9:16am
Quoting KeenPips
{quote} Tips from Larry Williams: 1. Have a set of conditions, at least three, you want to see the market meet before you enter the trade. 2. Trade your personality, use a trading style and strategy that fit your personality 3. Don't use indicators, redundantly; use a few indicators that complement themselves - each must serve a purpose which facilitates your trading-decision making.


4. Trend is the basis of all profit.

5. Have time on your side; then you can look to using a relatively small position to capture a big move.

6. Beware of opening too many trades to reduce your exposure.
Do your homework, follow the footprints of smart money
  • #73
  • Jul 6, 2016 9:43am Jul 6, 2016 9:43am
Quoting KeenPips
{quote} 4. Trend is the basis of all profit. 5. Have time on your side; then you can look to using a relatively small position to capture a big move. 6. Beware of opening too many trades to reduce your exposure.
7. Keep your eyes on the horizon; get rid of fear - Larry Williams
Do your homework, follow the footprints of smart money
  • #74
  • Jul 6, 2016 10:49am Jul 6, 2016 10:49am
The swing down below the 4-H 20 EMA on EJ appears to provide an interesting outlook. Using the 4-hour as my set up tf and dropping down to the 15 Minute chart for precise trade location, I saw that the 200EMA on the 15 minute is in confluence with the 62 Fib level. It is also noteworthy that it is the location of a psychological number, 112.400. If pa retraces to that level, it could provide a profitable southward trade. I am tracking the pa. Trade safe.
Do your homework, follow the footprints of smart money
  • #75
  • Jul 6, 2016 11:05am Jul 6, 2016 11:05am
Quoting KeenPips
The swing down below the 4-H 20 EMA on EJ appears to provide an interesting outlook. Using the 4-hour as my set up tf and dropping down to the 15 Minute chart for precise trade location, I saw that the 200EMA on the 15 minute is in confluence with the 62 Fib level. It is also noteworthy that it is the location of a psychological number, 112.400. If pa retraces to that level, it could provide a profitable southward trade. I am tracking the pa. Trade safe.


Also keep an eye on the 50 FIb which is also near a round number. Interestingly, if you pull down a Fib on the 30 minute chart from the swing high just under the the 200 EMA you can see that the 50 Fib level coincide with 112.400. Fib and 200 EMA are part of the market-tracking mechanism I employ.
Do your homework, follow the footprints of smart money
  • #76
  • Jul 6, 2016 1:14pm Jul 6, 2016 1:14pm
I am currently watching the USDCAD and USDCHF. They have both given me a bearish trade signal on the 4-H chart. Any price action below the weekly pivot will provide the entry for me to enter a trade to the downside. Trade safe.
Do your homework, follow the footprints of smart money
  • #77
  • Jul 7, 2016 7:51am Jul 7, 2016 7:51am
To track the market, using a few complementary indicators will help. For example, you will be able to know how reliable a market move is, whether or not there will be a follow-through. Thus, rather than having a lot of meaningless indicators, you choose at most three: e.g. one for direction/trend, another for momentum and, perhaps, another for volume. Trade safe.
Do your homework, follow the footprints of smart money
  • #78
  • Jul 7, 2016 12:02pm Jul 7, 2016 12:02pm
Now watching the pa of EURAUD moving towards an interesting resistance zone, 1.48266 to 1.48472. If price gets there I will be looking for a bearish signal to short the pair. Trade safe
Do your homework, follow the footprints of smart money
  • #79
  • Jul 11, 2016 4:20am Jul 11, 2016 4:20am
I still remain bearish on EURUSD. As usual, I did my weekly scan during the weekend to choose the few pairs I may trade during this week among the pairs on my watch list. I will be looking to trade three pairs during the week: EURNZD, GBPUSD and USDCAD. I use a 5-7 step approach to arrive at the choice of 3-4 pairs to trade. For the purpose of sharing ideas, and receiving any critique from fellow traders, here is a summary of the analysis I did towards arriving at trading EURNZD this week.

A relatively big pinbar (last week) compared to previous (two week's ago), its body more than thrice size of previous but with a short upper wick, no wick at low end. RSI and ADX on weekly portend a strongly bearish price action with good momentum. The 4H time frame indicated bearish continuation. Look to go for a southward trade during the week using a mean reversion strategy.

I may be wrong.

Trade safe.
Do your homework, follow the footprints of smart money
  • #80
  • Jul 11, 2016 5:36am Jul 11, 2016 5:36am
Quoting KeenPips
I still remain bearish on EURUSD. As usual, I did my weekly scan during the weekend to choose the few pairs I may trade during this week among the pairs on my watch list. I will be looking to trade three pairs during the week: EURNZD, GBPUSD and USDCAD. I use a 5-7 step approach to arrive at the choice of 3-4 pairs to trade. For the purpose of sharing ideas, and receiving any critique from fellow traders, here is a summary of the analysis I did towards arriving at trading EURNZD this week. A relatively big pinbar (last week) compared to previous...

Based on my analysis, if GBPUSD reject the DP & WP in a bullish move, I will be looking to trade northward.
Do your homework, follow the footprints of smart money
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