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Trap the Market

  • #241
  • Jan 2, 2017 3:50am Jan 2, 2017 3:50am
Here's a technical perspective on the cable. The primary trend is down but the market mode is for an upside move.

On the weekly time frame, the market is respecting a downward trend; the major trend is still in play and not yet breached (chocolate colour) but the prevailing inner trend (navy colour) is still respected. However, the technicals support a market mode to the upside. Details on this and a few other pairs are on the weekly technical outlook.


Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Top-Down_Analysis_Weekly_January_1,_2017.png Size: 22 KB
Do your homework, follow the footprints of smart money
  • #242
  • Jan 5, 2017 2:57am Jan 5, 2017 2:57am
If you love gold, you may be tracking it with the understanding that the major trend is downside but the current mode is northwards. On the 4H tf, gold is now retracing to an inner ascending trendline for a further bullish push.

Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_Update_4H_January_5,_2017.png Size: 22 KB
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  • #243
  • Edited 10:59am Jan 5, 2017 10:49am | Edited 10:59am
If you are tracking GBPUSD, note that cable has just spiked very close to the monthly pivot. There is a confluence of a daily resistance zone and 50 EMA (daily). If that area is rejected, we can expect a bearish turnaround. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #244
  • Jan 8, 2017 3:34pm Jan 8, 2017 3:34pm
If you are considering trading the USDJPY this week, note that the trend has been up for a while but it seems the momentum has slowed down. Recent price action has rejected a descending trendline on the weekly time frame (saddle brown colour) and the 78.6% Fib level. Therefore, it is important to watch how price reacts to this area. You can get further technical details from weekly technical outlook.

I may be wrong. Trade safe and proper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_Weekly_January_8,_2017.png Size: 38 KB
Do your homework, follow the footprints of smart money
  • #245
  • Jan 8, 2017 4:43pm Jan 8, 2017 4:43pm
If you are tracking GBPCAD, note that the pair has been on the downside for a long while. On the daily time frame, price action is respecting an inner descending trendline (navy colour) after a period of consolidation with the bears back in control, indicating the possibility of further southward move. Details are shown on weekly technical outlook.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Top-Down_Analysis_Daily_January_8,_2017.png Size: 27 KB
Do your homework, follow the footprints of smart money
  • #246
  • Jan 15, 2017 2:21pm Jan 15, 2017 2:21pm
One key to trapping USDJPY this week is to note that the price action is respecting a descending trendline after reaching a significant retracement level on the weekly time frame. See the chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_Weekly_Jan._15,_2017.png Size: 31 KB


You can get further details from weekly technical outlook.

KP
Do your homework, follow the footprints of smart money
  • #247
  • Jan 16, 2017 9:52am Jan 16, 2017 9:52am
If you are tracking GBPAUD, be aware that the overall trend is downward. However, profiting from it is a matter of timing and getting the right set-up.

KP
Do your homework, follow the footprints of smart money
  • #248
  • Jan 17, 2017 10:39am Jan 17, 2017 10:39am
Timing is key to trapping the market. No matter how good your set-up is, if the timing of your entry is wrong you may end up having a losing trade. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #249
  • Jan 19, 2017 10:57am Jan 19, 2017 10:57am
Just Sharing

Dojis don't work as a directional signal themselves; the order flow context is key. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #250
  • Jan 22, 2017 4:38pm Jan 22, 2017 4:38pm
If you would like to trade the USDJPY this week, be aware that the current market mode is ambivalent as the buyers are still influential even though the trend seems to favour the sellers. On the 4H time frame, price action is at a significant S/R zone and a rejection of the zone to the downside to respect the descending channel (navy colour) is likely. There is the possibility that price action will pursue a southwards drive thereafter as a significant moving average has been acting as a dynamic resistance for the past two weeks.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_4H_Jan._22,_2017.png Size: 35 KB
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  • #251
  • Jan 23, 2017 1:57am Jan 23, 2017 1:57am
Quoting KeenPips
If you would like to trade the USDJPY this week, be aware that the current market mode is ambivalent as the buyers are still influential even though the trend seems to favour the sellers. On the 4H time frame, price action is at a significant S/R zone and a rejection of the zone to the downside to respect the descending channel (navy colour) is likely. There is the possibility that price action will pursue a southwards drive thereafter as a significant moving average has been acting as a dynamic resistance for the past two weeks. KP USDJPY_Top-Down_Analysis_4H_Jan._22,_2017.png;2150612...

If you would like to make the most of the price action and take advantage of the descending channel pattern, wait for price action to retrace to between 50 and 61.8 Fib levels to short the pair.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #252
  • Jan 23, 2017 10:39am Jan 23, 2017 10:39am
[quote=KeenPips;8926904]Do you swing trade? Do you trade on 4-hourly time frame or higher and hold trade positions longer than 4 hours? For consistent trading success, you will have to track, stalk and trap the market. The focus of this thread is to share ideas, experience, strategies and approaches that help trap or beat the market in short to medium-term swing trading, including trading on HTFs and holding positions longer than 4 hours if the TP target or market condition requires it. To define, watch, wait for, and trap the market is the heart of short term swing trading. In the context of swing trading, trapping or beating the market involves: 1. Clearly defining the significant zones or boundaries and conditions in which price action will be to bring in desired trade results; 2. Carefully reading and watching the market; 3. Patiently waiting for the right time and for all signals to align or fall in place; and 4. Decisively striking when the best opportunity to beat the market presents itself.


Hi! Thank you for sharing, I take this piece of the quotation or you have valuable information for me. I do not usually apply this form of commerce because I do not dominate it well. But I will follow the thread to learn from you, I see that is your strong point.
  • #253
  • Jan 23, 2017 11:04am Jan 23, 2017 11:04am
Quoting fouclycm
Quoting KeenPips
Do you swing trade? Do you trade on 4-hourly time frame or higher and hold trade positions longer than 4 hours? For consistent trading success, you will have to track, stalk and trap the market. The focus of this thread is to share ideas, experience, strategies and approaches that help trap or beat the market in short to medium-term swing trading, including trading on HTFs and holding positions longer than 4 hours if the TP target or market condition requires it. To define, watch, wait for, and trap the market is the heart
...

Good to know that you learned something from this thread. Continuous improvement is key to our success as traders. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #254
  • Jan 25, 2017 9:42am Jan 25, 2017 9:42am
One of the ways I track and trap the market is using the Fibonacci retracement tool. There are many ways you can use this tool but take a few minutes to read the following article in case you find it helpful:

http://www.tradingstrategyguides.com...line-strategy/

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #255
  • Jan 25, 2017 9:55am Jan 25, 2017 9:55am
If you are tracking gold, consider a 61.8% Fib pull back of your recent swing low tradeable southwards. The current swing low on the 4H time frame gives a 61.8% Fib level around 1210, which adjoins the daily pivot.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #256
  • Jan 25, 2017 10:14am Jan 25, 2017 10:14am
Too late to the party? I set a sell limit order at 61.8 Fib area on the 4H time frame, my set-up time frame. However, upon looking at the 1H time frame I found that the price action has kissed a retrace at 32.8 Fib near the weekly pivot and heads southwards. I will leave my sell limit order where I placed it, no chasing the market.

KP

Quoting KeenPips
If you are tracking gold, consider a 61.8% Fib pull back of your recent swing low tradeable southwards. The current swing low on the 4H time frame gives a 61.8% Fib level around 1210, which adjoins the daily pivot. I may be wrong. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #257
  • Jan 25, 2017 11:01am Jan 25, 2017 11:01am
Although cable is on a rally upwards atm, the major market outlook is bearish and the market structure is not yet broken. You can expect cable to turn southwards very soon, perhaps after another 80 pips northwards.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Update_Daily_Jan._25,_2017.png Size: 28 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Update_4H_Jan._25,_2017.png Size: 30 KB
Do your homework, follow the footprints of smart money
  • #258
  • Jan 29, 2017 3:04pm Jan 29, 2017 3:04pm
If you are trading EURUSD this week, consider this perspective.

Although the dominant trend on the weekly time frame is downwards, price action has consolidated for a long while but the descending trend has largely been maintained. Price has respected a major descending trendline on the weekly timeframe. However, as recent price action is towards the north side, any opportunity for a buy trade for small profit can be taken but the more confident trade is for a sell trade, possibly after a retracement to the upside. Details are shown at weekly technical outlook.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #259
  • Jan 30, 2017 10:41am Jan 30, 2017 10:41am
If you are tracking EURUSD, realize that the dominant trend is downwards. Unless you aim to scalp, the current upward move is largely corrective. Trade safe and prosper.

KP


Quoting KeenPips
If you are trading EURUSD this week, consider this perspective. Although the dominant trend on the weekly time frame is downwards, price action has consolidated for a long while but the descending trend has largely been maintained. Price has respected a major descending trendline on the weekly timeframe. However, as recent price action is towards the north side, any opportunity for a buy trade for small profit can be taken but the more confident trade is for a sell trade, possibly after a retracement to the upside. Details are shown at weekly...
Do your homework, follow the footprints of smart money
  • #260
  • Jan 30, 2017 12:22pm Jan 30, 2017 12:22pm
If you love gold, consider trapping it for a southward drive at the 50-61.8 Fib level; it's operating in that area now. I may be wrong. Trade safe and prosper.


KP
Do your homework, follow the footprints of smart money
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