Learn Trading - Trapped Traders® Daily Analysis - Buying USD/CAD
Get Mark Chapman's Free Trapped Traders Calls and Learn Trading Forex - Click here: http://mytotalsupport.com/cpv/base.ph... And the trap we’re going to take a look at today is return into what was a structure failure trap. This is on the USDCAD hourly chart. And essentially we had a strong drop in price and as price pulls back, it gives the impression that it’s going to follow through, and that’s what draws the trader in to take some risk. Even more so when they’ve got a historical level that they’re trading off. So, resistance. Resistance. Support. Support. Resistance. Resistance. Sells off. Gives the impression it’s going to work. They place their stops above the swings, and then obviously as price starts going against them once they’ve committed capital, they cancel the stops and then price goes against them. So, if that trader had done that and they’ve been through this psychological nightmare, then obviously they’re just kind of stuck off side in the trade. And if they’ve got the opportunity to, price came back into this area, they would bail out of those trades at break even. And because they were originally sellers over there, that equals demand. But to be fair, this pair is a little bit lackluster at the minute. It needs a bit of direction. We do have some US news later today, so that could be the catalyst for it. But that being said, it’s a pretty decent trade over to the side of that range. Around 37. The big figure. Something like that. • Learn Trading - Trapped Traders® Daily Ana... 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.
