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 September 28, 2016.
The trap we’re going to look at today is what I refer to as a rat trap, which occurred in this area here. Traders at the hard right edge would’ve been very seduced and induced into this trade to the upside. As price pulls back, it looks like a great place to get long and it does indeed breakout from that prior high, drawing in the retracement traders and the breakout traders. But no sooner have they come into the market, the breakout traders have been trapped at those highs and the retracement traders are certainly under pressure and losing money.
So, if this pulls back, this looks like a pretty decent place to get short.
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