About TrapTheMarket

One of my trading principles is optimizing efficiency in my trading. So, during the week I sought a way of reducing the number of steps I employ in my weekly scan and analysis of the pairs on my watch list. I found a way of doing this, reducing the number of steps from six to four. Trade safe and prosper.

If you are tracking the EURUSD this week, be aware that since the beginning of 2017, price action on the pair on the daily time frame has been on a retracement upwards covering over 290 pips to respect the 61.8 Fib level with a significant moving average serving as a confluence and resistance. Thereafter the order flow has been dominated by the bears. Last week the bulls made a push upwards but on Friday a piercing line formed to counter the bulls. On the H4 time frame, the downward trendline is well respected after a 50.0 Fib retracement of the most recent swing low from February 2, 2017. The most recent order flow has seen two relatively big bearish candlesticks showing the influence of the bears. The technicals on the H4 time frame support a further southward move with a possible initial target of around 1.0490, which is in confluence with the immediate support zone and the trendline joining the swing lows on the H4 time frame.

I may be wrong. Trade safe and prosper.



Watch this video. What could you learn from it? Trade safe and prosper.

Plenty - and from his other videos, and [I]especially[/I] from the hugely long document he calls (for some reason) his “lost blog posts” which he makes available free as a PDF, from his website.

He’s “one of the good guys”: a good trader and quite a good teacher. :cool:

With you on this. Trade safe and prosper.

[B]Just sharing[/B]

Avoid making a functional, efficient strategy/system perfect so that you don’t ruin it. Whatever is efficient, functional and offers you consistent profitable trades is best for you. Trade safe and prosper.

If you are tracking USDJPY, notice that on the weekly time frame, the past two weeks have witnessed two strong bearish candlesticks and the technicals favour further bearish move; a likely target being around 109.980, the immediate weekly support zone.

I may be wrong. Trade safe and prosper.


Here is why I will look to sell cable this week.

The technicals on the weekly time frame still favour further southward price action. On the H4 time frame, recent price action resulted in a southward price wave and a pull back developed as part of the process of completing the first descending price wave. If this pull back retests the immediate weekly resistance around 1.2398 (which adjoins the 50 Fib retracement of the recent drop), or validates the descending trendline by a southward rejection, the second southward price wave may be in the offing; this may target 1.2155, the immediate weekly support.

I may be wrong. Trade safe and prosper.



[B]Just Sharing[/B]

To succeed in this business, make your own discoveries and forget about the ‘Holy Grail.’

Trade safe and prosper.

I will look to a sell trading opportunity on GBPAUD this week. Here is why.

The pair has been on a descent on the weekly time frame since September 2015 and respecting a major trendline (chocolate colour). On the H4 time frame, price has been operating in a descending channel since February 2017. It has moved southwards within the channel creating a double inside bar during the last eight hours of Friday last week. If this results in a further bearish move, price is likely to target the channel line and, perhaps, the next significant support around 1.60044, which represents the 2017 low on the pair; and may expose the 1.57890 handle, the 2016 low.

Trade safe and prosper.



[B]Just sharing[/B]

Try this - Get a functional price action strategy, combine it with patience and precision in trade entry.

Trade safe and prosper.

I will look to trading USDJPY southwards this week. Here’s why, from a technical perspective.

The pair has been on the descent on the weekly time frame since December 2015. It entered a corrective mode in November 2016 and peaked at the 78.6 Fib level in December 2016, respecting a major descending trendline (chocolate colour) which began in October 2015. Price action since November 2016 tends to align with an inner descending trendline (dotted line in chocolate colour). Two weeks ago, a bullish candlestick formed to validate the inner trendline and got pushed back by bearish pressure around a resistance zone. Last week an engulfing-like candlestick formalized the bearish influence and disposed the price action further southwards. Nevertheless, the overall price action is taking place in area of consolidation and so the momentum for further downward movement may be limited.

On the daily time frame, price action is on a descent with strong bearish influence. However, as price action is in a consolidation zone (khaki colour) within an S/R area, price may need to retrace upwards to retest the inner descending trendline of the weekly time frame or the immediate resistance zone around 115.850 before a more confident move southwards. It should be realized that the zone has held as support since mid-January 2017. Should price break the zone to the downside, an initial target is likely to be 113.100, a significant round number which aligns with the previous low of March 2016.

On the H4 time frame, price action is largely bearish. However, the momentum is hindered by some consolidating influence of bulls. The most recent price action, with predominant low-wicky candlesticks, indicate a high probability for a move upwards before any further bearish move. A probable area for an upward corrective move is the 32.8/50 Fib zone which adjoins 113.680 – 114.030 and potentially a flip zone, having served as a resistance and support for a while on the H4 time frame.

I may be wrong. Trade safe and prosper.




I found this video helpful. Trade safe and prosper.

Here’s why I hope to drive southwards with Aussie this week.

The pair has been consolidating for much of the past seven weeks. However, the downward trend that started in March 2013 is not yet broken. Recent price action on the weekly time frame is around a weekly S/R zone. Last week a piercing-like bearish candlestick formed on the weekly time frame but the previous week’s candlestick was a relatively larger bullish candlestick. Momentum for further bearish move is likely to result from a break below the counter trend line (magenta colour) on the weekly time frame.

I may be wrong. Trade safe and prosper.


I hope you enjoy this video.

Trade safe and prosper.

I will look to riding EURJPY southwards during the week. Here’s why.

On the H4 time frame, an outer descending trendline (bold saddlebraown colour) from the high of March 13, 2017 is still very much in play while price action has moved lower, indicating an increase in momentum, to respect an inner descending trendline (bold magenta colour) from the high of March 17, 2017. The order flow context and the nature of price action last week showed that the market was in consolidation but the bulls were largely more influential. It is much likely that there wil be a retracement northwards before any further southward move is in play. A likely target of such a retracement is the intersection of the inner descending trendline and the immediate resistance zone, which is around 118.656 and 119.023 and which adjoins the 38.2 Fib zone from the high of March 17, 2017.

I may be wrong. Trade safe and prosper.


If you know when not to trade and then actually stop trading, you would go far in consistent profitability. Watch this video.

Trade safe and prosper.

[B]Just Sharing[/B]

This is why you keep searching for the ‘Holy Grail’: You don’t understand what really brings about lasting success in Forex trading. Stop searching for the ‘Holy Grail’! There is no single best trading strategy or system. Just focus on what fits your personality and trading style, and works best for you.

Trade safe and prosper.

Here’s why I will be looking for a sell trade opportunity on AUDJPY this week.

On the daily time frame, price action since March 2017 has been operating in a descending channel (dark violet colour) but since the beginning of April the price action has moved to the lower half of the channel, creating a pennant-like formation, portending an increase in momentum southwards. It should be noted that the most recent price action is within a zone which has flipped as an S/R role for a while. As there is a confluence of barriers in this zone, price action may struggle before it successfully breaks below the zone. This is likely to expose the next support zone, around 79.278, as the likely target.

I may be wrong. Trade safe and prosper.


Just Sharing

Here’s a video you may find challenging but could enhance your trading.

Trade safe and prosper.