Archives for July 2012

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Great Trade to Start the Week

Today’s trade was supported by perfect price action on the binary options market. We watched the EURUSD setup a nice put option trade after a nice strong leg down to support level two. We saw price rise from this level and then form a double top. This secondary move gave us a signal to take a put option looking for price to drop again.

On this particular trade we stuck with the trend which gave us a nice winner of over nine pips. Earlier this morning from looking at the charts we noticed how price had been moving down pretty significantly from around the levels of 1.22725 all the Way to 1.22249. With a 50 pip move like this you look for a reversal [Read more…]

A Nice Price Action Trade on a Pullback

After two solid days of nice moves to the North side, today’s action was very choppy. While seeking a trade we took everything into consideration and tried to stick to the trend like we’ve been doing all week. This trade was based on a solid move through resistance one, followed up by a nice pullback. The move prior to this action also had given the trade more confidence in our decision making.

We always try to trade what we see by using current market conditions as well as what has happened in the most recent period of time. When price pulled back to an area of support that occurred just a couple hours prior, we knew this would be a good location to take a call option. [Read more…]

Old Resistance Becomes New Support Again

Always remember to keep in mind what is happening in the markets before you take your trade. It is best to know the obvious before you make a mistake that may cause you to lose a lot of money. In the case of trading the EURUSD today we had noticed that the euro had been pounded over the past few months. Any time you see a price get hit so hard you wonder two things. Either the price can go to zero or the price will bounce. Obviously, the price is not to go to zero anytime soon. However, you must be aware of how much more room it could fall before going back up.

We took today’s trade based on price action at bank to binary. You can see how the price had moved up through resistance and eventually came back down to the same level. [Read more…]

Trade on a Weak Euro

It’s always nice to start your week with a winning trade. Today we got off on the right foot noticing the euro dollar getting pounded to the south side. Sometimes when price gets hit this hard it’s hard to find a solid entry in the same direction. Taking a call option at 24option in today’s market would have been very questionable unless the setup was perfect. We decided the best bet was to stick with the trend and look for a nice pullback after the moves we’ve seen go down.

Around 9:00 we saw a significant move to a new low and it was pretty extended. We then saw the price move back [Read more…]

Trading on Price Action

Today’s trade of the day was solely placed on price action at Bank De Binary. We were watching the charts develop throughout the morning and finally found a good area of support to take a call option. Markets over the last few days have been pretty tight range forming and it makes it difficult to find solid trades. Finally this morning we found a solid trade set up that old resistance that became support and we traded it on a 10 minute expiry that worked out just fine.

This painless trade was in our favor by over seven pips, [Read more…]

Call Option in the Middle of July

Today’s trade was purely based on price action using an old resistance level which then became our new support. Any time you can trade these price points gives you the empowerment in your training. It’s not always easy to find these old resistance or old support levels and then reverse him. You sometimes need to look back over the course of the day to find this particular setup.

In today’s case we noticed that price had moved up pretty significantly from the pivot point on the pound dollar. It stair stepped its way up and eventually hit a resistance area that held pretty well. Over the course of the next 15 minutes price pushed through this original resistance area. This area of resistance now became support. Price then started to move up into a Resistance one on the chart. It then had a nice 20 to 25 pip move all the way down to our new support(Old Resistance). [Read more…]

Trading at Significant Lows on the EURUSD

When seeking a solid binary trade it is best to always work with the trend. In this case, price was reaching new lows and it was to the point where taking put options was not as favorable as taking call options. Sometimes you have to change up the way you trade based on where the price is located. We notice how price dropped so much over the past year that once we hit these new lows it was time to take a call option. [Read more…]

EURUSD Support Binary Trading

It took us a little while to find a solid trade on the binary options markets this morning. Once we found our particular trade we were able to enter a call option on the EURUSD based on a couple of support levels that occurred many hours prior to our entry. We had noticed how price had moved down to a certain level on two different occasions within last 30 minutes and eventually broke through that price. Once this price was broken we then looked for the most recent support level from the original support. In this case, the price was on a 5 minute wick candle nearly 10 hours earlier. We then entered the call option at the same price from 10 hours ago. [Read more…]

Price Action Trade

Getting back into our trading this week we were seeking some solid trades on the binary options market. Sometimes price on the currency pair doesn’t create a wide range and decides to consolidate in a fairly tight range. This is the time when you should trade price action and use it to your advantage on all trades until these channels are broken. Today’s setup was based purely on price action. [Read more…]

Weak Euro Leads to a Solid Binary Trade

Recently announced about an hour prior to this trade the euro interest rates were cut causing the price to tumble significantly to the south side. We witnessed significant moves and waited for a solid retracement to consider entering our own put option. An hour after the move down we witnessed a price start to move up about 30 pips. We then saw some minor consolidation before the price dropped a bit more, but never far enough where the price got out of reach. We then saw the price push up through that most recent retracement high. This is where we entered our put option trade on the EURUSD. [Read more…]

GBPUSD Call Option Around Pivot

Today’s 24option trade set up was found in a consolidation range which allowed us to get in on the bottom of the cycle. The price had moved up, gravitating towards the pivot line, but then decided to consolidate creating a tight range. Once we saw the price come back to the lower side of that particular range we took a call option. This call option then moved in our favor on the next candle by a significant amount and by the time the trade was over we had a nice four pip winner. This was a pain free trade that allowed us to take a call option and we knew we could have the price gravitate towards the pivot line which was only about 10 pips away. [Read more…]

Back to Trading After Vacation

After a full week off we got back into trading just like we finished before we left. This trade set up on the pound dollar came to us around 9:30 AM this morning and worked out perfectly. At around 9:20 we were seeking a call option trade based on the consolidation with the potential move up to the resistance level. Within seconds the price popped 10 pips all the way to to that resistance level, but we had already missed that call option trade. [Read more…]