August 12, 2016
Hello traders, Mark Chapman here. I’m the creator of the trademarked Trapped Traders Concept. Welcome to today’s Trapped Traders Trade of the Day Analysis. Today’s date is August 12, 2016.
The traps we’re going to look at today is what I refer to as multiple structure failure traps, which occurred here. Traders at the hard right edge would’ve been very keen on selling this market as price pulls back into that historical level of support, providing the retracement trader with a great place to go short. And indeed that’s exactly what they did.
But as you can see, they’re starting to get squeezed now, and their stops will be just above this level. So, if price breaks out above here and we get some kind of a pullback, this looks like a pretty good place to get long.
If you’d like to join me in my Trade Room today to get analysis on all the pairs I’m trading and all the traps I’m considering, I’d love to see you there. Just click the button below to join me for today’s live Trade Room. Have a great day, and I’ll see you there.
http://trappedtraders.forextradersdaily.com/optin-38308384?aff_sub=internal&affiliate_id=421745
Disclaimer:
This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.
No comments:
Post a Comment