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FXGOAT Trap Trading Checklist

The FXGOAT Market Maker Trap Strategy focuses on trading in the direction of market makers who manipulate the Forex market by creating false breakouts and reversals to trap retail traders. Key concepts include identifying consolidation phases, recognizing M/W trap patterns near HoD/LoD, and executing trades during the London and New York sessions with proper risk management. The strategy emphasizes understanding market psychology and trading against the crowd for optimal results.

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59 views4 pages

FXGOAT Trap Trading Checklist

The FXGOAT Market Maker Trap Strategy focuses on trading in the direction of market makers who manipulate the Forex market by creating false breakouts and reversals to trap retail traders. Key concepts include identifying consolidation phases, recognizing M/W trap patterns near HoD/LoD, and executing trades during the London and New York sessions with proper risk management. The strategy emphasizes understanding market psychology and trading against the crowd for optimal results.

Uploaded by

obisesan phillip
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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FXGOAT Market Maker Trap Strategy - Full Trading Checklist & Guide

FXGOAT Market Maker Trap Strategy - Full Trading Checklist & Guide

OVERVIEW - What This Strategy Is About

- Based on FXGOAT's "New Market Strategy" PDF.

- The Forex market is controlled by big institutions (dealers/market makers), not retail traders.

- These market makers manipulate the market to trap retail traders by faking breakouts and reversals.

- The key is to trade in the direction of the market makers after they ve made their trap move.

KEY CONCEPTS

1. Market Makers (Dealers):

- They create fake setups to manipulate emotions (fear & greed).

- They operate heavily during London and New York sessions.

- Asian session is mostly consolidation and trap setup.

2. Consolidation Phase:

- Usually happens during Asian session (12 AM 8 AM Nigerian time).

- Price moves sideways in a tight range.

- This creates a buildup of liquidity for London/NY trap moves.

3. London & New York Sessions:

- London: 8 AM 4 PM Nigeria time

- New York: 2 PM 10 PM Nigeria time

- These sessions are when the market makes real moves often after trapping traders.
FXGOAT Market Maker Trap Strategy - Full Trading Checklist & Guide

4. M & W Formations (Trap Patterns):

- M = Double Top = Bearish Reversal Trap

- W = Double Bottom = Bullish Reversal Trap

- Must appear after false breakouts of highs/lows (especially HoD/LoD)

5. HoD/LoD (High/Low of Day):

- These levels represent the highest and lowest prices reached so far during the day.

- They are dynamic and update as price makes new highs or lows.

- M/W patterns often form near these zones as traps.

HOW TO SPOT HoD/LoD (For MT5 Android)

- Use crosshair tool to manually check the highest and lowest candles of the current day.

- Or tap each candle to view its High and Low in the data window.

- Draw horizontal lines on the chart at these levels to mark potential HoD/LoD.

FULL TRADING CHECKLIST

PRE-LONDON SESSION (6:00 8:00 AM Nigeria Time)

- [ ] Identify Asian consolidation (sideways movement, tight range).

- [ ] Mark Asian High and Asian Low.

- [ ] Mark HoD/LoD so far (update as needed).

- [ ] Mark yesterday s High/Low for reference.

LONDON SESSION (8:00 AM Onward)


FXGOAT Market Maker Trap Strategy - Full Trading Checklist & Guide

- [ ] Did price break out of the Asian range strongly?

- [ ] Did price spike through HoD or LoD quickly?

- [ ] Watch for fakeouts these are often the trap setups.

TRAP CONFIRMATION

- [ ] M Pattern near HoD with bearish engulfing = sell trap confirmation

- [ ] W Pattern near LoD with bullish engulfing = buy trap confirmation

- [ ] Did this happen during London or New York session?

ENTRY & RISK MANAGEMENT

- [ ] Enter after second leg of M/W forms with confirmation candle.

- [ ] Stop Loss (SL): Just above high (for M) or below low (for W).

- [ ] Take Profit (TP): 2x to 10x or even 20x SL.

- [ ] No entry during Asian unless experienced.

PATTERNS & PSYCHOLOGY

- [ ] Wait for trades patience is key.

- [ ] Don t chase every M/W context and timing matter most.

- [ ] Think like a market maker trade against the crowd.

NOTES

- HoD and LoD can change throughout the day as new highs/lows form.

- Market makers often create new HoD/LoD with a spike before reversing.

- M/W patterns are based on human psychology (fear and greed), not indicators.

- Strategy works across all timeframes, but focus on M15 H1 for clarity.
FXGOAT Market Maker Trap Strategy - Full Trading Checklist & Guide

FINAL TIP:

Don t just trade patterns trade the story behind them. Understand what the dealer wants retail traders to do and then

do the opposite.

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