Trapped Traders® Underground Trading Tactics - Mark Chapman

Buying GBPAUD

October 20, 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 20, 2016.

The trap we’re going to look at today is what I refer to as an outside candle trap, which occurred in this area here.

Traders at the hard right edge would’ve been very seduced and induced into this strong drop down in price, and this is what gets people really excited. And as price pulls back, it pulls back into the underside of that historical level of support.

So, when it bounces off that level, it induces and seduces traders in who were trading the retracement stroke breakout, believing that this is going to follow through. But as you can see, it’s turned on them aggressively and moved away from that area, trapping those traders in those short positions.

So, if we get a pullback into this area here, there’s definitely going to be traders bailing out of there at break even, plus the fact it popped up anyway, so there’s demand in that area. So, 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 in today’s live Trade Room. Have a great day and I’ll hopefully see you there.

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