Trapped Traders® Trading Concepts - Mark Chapman

October 19, 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 October 19, 2016.

The trap we’re going to look at today is what I refer to as a trap break pullback. There’s been quite a few of these this week. This is a particularly nice example because what we have is a very well defined level where price has bounced off and acted as support, resistance on many occasions.

This is a four-hour chart of the EURJPY, and as you can see, it’s been traded each time price has come into this location and it’s bounced off.

Now, the last time it’s been bouncing off this level, it has worked as those level traders would anticipate. However, when they’ve gone long in this instance, price has follow through to a certain degree, but not fully and now it’s reversing, trapping those traders in those long positions.

It catches them and now they’re losing money or being stopped out. So, if this pulls back, this looks like a great place to get short.

If you’d like to join me in my Trade Room today to get all the analysis on all the pairs I’m trading and all the traps that I’m considering, I’d love to see you there. Just click the button below to join me in today’s live Trade Room. Have a great day, and I’ll see you there.

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