Nuno Santo’s side bossed things right from kick off in this one with Fabio Silva wasting a brilliant chance to head home before Traore lashed wide.
But the Spaniard wasn’t to be denied second time around as he cut inside Eberechi Eze and crashed one past Jack Butland.
Palace failed to muster up a response after the break as Butland worked overtime to keep them in it.
The England international reminded Roy Hodgson of what he can do with superb stops from Leander Dendoncker and Pedro Neto.
But in the end a limp Palace attack never troubled Santo’s back line as they bowed out in Round Three.
Full Time at Molineux it’s Wolves 1 Crystal Palace 0