Archives for August 2012

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End the Week on a Good Note

After a pretty long week of boring trades we finally closed out with a winner just before the US holiday. We talked about this all week, that trading is slow and solid setups are hard to find in any market. We even took an Apple stock binary option trade yesterday because the EURUSD wasn’t moving very well. Today, we finally found a trade that worked out pretty well for us on a pullback.

Price had moved up through resistance three this morning, but remember the range of the euro is much smaller than it has been in the recent past. Just because it moved through resistance three doesn’t mean it’s extended [Read more…]

Option Pro

Slow market conditions continue today which made it difficult to find a solid trade this morning. We did however find our put option trade after price pushed through pivot. Price soon moved back up towards the pivot area where we took our put option and won by 1/10th of a pip. We continue to stay patient and only trade solid setups especially in the price action we’ve seen over the past week. This is probably one of the slowest weeks we’ve seen in some time and it will most likely continue until after the Labor Day weekend.

As price fluctuates only a small amount it is hard to determine a good solid range or if price is extended to a location where a trade can be taken. If you watch yesterday’s video you could see how we in a tight range [Read more…]

Slow Euro Leads to a Profitable Trade

It’s funny how in the summertime, especially in August, price action becomes a fight. As traders, we look for the best setups possible, and this is the time to avoid pressing your trades and trying to make a lot of money. I’ve mentioned before that I’m not a big believer in summer trading, however it does occur and when it does you need to be on your toes.

We were seeking a trade based on price action, looking for a move that was solid in the direction of today’s trend. The chart only showed flat consolidation with minor bumps to the North and South side. Whenever we see this kind of price action we know to stay out of the market until something sets up for us. It wasn’t until later this morning when price retraced back above pivot [Read more…]

Taking Binary Options Trades with Clean Setups

Over the past few weeks we’ve been talking about extended moves on a particular currency pair. The EURUSD likes to make strong moves and when it does it’s best to take a reversal trade after we’ve reached the extended area which is resistance three or support level three. We like these trades because price is moving into an area that it doesn’t move into very often. When prices get above an average daily range it tends to want to come back into that particular range. There are plenty of times price will keep moving in that direction, but this is one of those setups where you can get a good price estimate on whether the price will reverse or not.

When looking for a trade this morning we noticed that this had already occurred at support level three. Although we missed this particular trade we weren’t giving up on our trade of the day. Soon after this price action occurred the price moved up from the extended move closer to support level two. It formed a small channel in which we took our put option at trade rush today. This trade [Read more…]

Picking Your Spots is Critical

Keeping an eye on the markets is critical in your trading. If you miss a trade there is always another. This morning we missed the best possible option, which was a call option at the pivot level. More about this later.

Today’s trade was based on price action to a resistance area. We noticed how price had moved up earlier and continued to thrust to the North Side. Resistance one was in our sights but we knew how price had fallen back prior to that, which gave us a nice area for put option entry. This trade went against us in the first few minutes, but turned out to be a great trade allowing the price to fall back down to the short side. When you can get a set up like this going against the trend it helps to have a few things working for you. Yesterday we had significant moves the North Side which led us to believe that today would be more of a consolidation or slow moving day.

When you do have a second day of price movement [Read more…]

Trading a Solid Trend Line

Today is a pure example of a trend forming day on the EURUSD. Price continued to move up from support level one and has not looked back over the past few hours. If you look on a 15 minute chart you can see how price hit that same price area at 1.230 a couple of days ago and significantly moved to the North Side. Now prices came back to the 1.230 which is also support level one again and has bounced all the way up to pivot at 1.2340. Looking at the chart price it continues to move up in a stair step pattern forming all new higher lows. When you see this type of price action it’s best to stick to call options on pullbacks.

We took our trade using the pullback on the north side trend moving EURUSD. Price had not hit the pivot yet and we decided to take a call option just below it. Price moved against us a few pips but [Read more…]

Turning a Put Option into a Call

Sometimes in trading you have to make as fast decision and in this case we were looking for a put option around resistance area, but determined that a call option on the pullback was a better choice. These types of trades are ones that come along every so often and will allow you to trade actual price action versus taking a guess of whether the price will reverse. In this case we are waiting for price to move to resistance one only it failed to get there. This allowed us to look at the retracement down to a certain support level and this is where we took our call option at TradeRush.

It doesn’t happen often, especially when you’re looking at this particular set up that you change your mind on the fly. When you’re trading the EURUSD and you notice price moving up pretty strong you want to stick with the trend. When [Read more…]

Seeking a Trade Patiently

You never know what will happen in the markets and when it comes to making trading decisions you need to be prepared to be very patient and only trade solid setups. Today’s trading conditions were very slow and didn’t show too much in the sense of potential trade setups. We waited for over two hours to take our trade of the day and it still wasn’t the most competent trade available. Soon after our trade we realized that certain setups were available earlier in the morning. Sometimes you miss opportunities because market conditions are so slow and we just didn’t feel the need to take a trade.

In this trade we noticed our price was channeling and created a triple bottom. Price moved through the third bottom and we saw the pivot was right below. Being the price had been fighting this area over the last couple hours we didn’t have much confidence in the pivot line holding as a price point for a turnaround. When we notice price moved through the pivot and then consolidated [Read more…]

Trading Friday Binary Options

This is one of those weeks where trading against the trend has really paid off for We’d like to trade with the trend if possible, but sometimes you just need to take the trade you see and the price action that’s occurring in front you. For the past few days we noticed price action moving to the sell side. During this southerly move we noticed bounces do occur at solid support areas. In this case, we’ve been looking at the EURUSD all week and how price moved down to either support level two or support level three. The further it moved the better our reversal chances become.

Today’s trade at 24 Option was based on that similar price action coming off the pivot from the evening. Price then moved down through support one and came upon support level two. Price did not hesitate to long, and consolidated for about 5 minutes before pushing back up to the North Side. [Read more…]

Bottoms Up on the EURUSD

The first thing we noticed was that Price had moved down significantly past support level three. Anytime price is extended through the final support area, whether it’s support three or resistance three, we consider a change of direction near this level. Price action is the key to trading binaries when price has met extended Lows or highs. In this case, price was forming a channel near these extended Lows. As price came down to the lower level of the channel we were then thinking about taking a call option trade. In the video you can see our entry a lot clearer.

The significant part about this particular trade was that a candle wick was formed 30 minutes prior to our entry. Once this wick was created a second [Read more…]

Double Trade with a Nice Resistance

Trading Pivot Points Keeping an open mind when trading the binary markets is critical to your success as a trader. Whether you’re looking for short-term or long-term trades its best to trade when price action is in your favor and the expectations are high in the direction you want to go.

Today’s trade was on the EURUSD was based on an area of resistance using the pivot lines. This resistance one line has always been a favorite amongst the pivot lines. Anytime price moves into this resistance point and assuming price action is not so strong, we will take put options at this level. The power of this trade this time was the fact that it was at a whole number of 1.24000. [Read more…]

Money Trade on a Nice Pullback

There is nothing like trading the Nonfarm payroll report on the first Friday of every month. Although we were not here to take a nonfarm payroll trade, we did take a secondary trade that was set up perfectly an hour after the news came out. News trading can be exhilarating if you know what you’re doing and are able to get in the trade you want to take. When trading binary options it’s sometimes best to sit on the sidelines and wait for trades to set up for you when picking a direction.

Today’s trade had price action moving towards the north side. Once price decided to come back to the pivot it then cranked up over 100 pips. We saw a trade set up form on a pullback of this move to an area that became a small support area. We entered our call option trade at 24 option and allowed the price to move in our direction for 13 pips. [Read more…]

Clean Put Option at Resisitance

When trading in the binary markets you need to find areas to trade that give you the advantage. A lot of times people trade so they can just make a trade. This makes no sense at all. If you want to be successful you need to trade good setups and stick to your rules throughout the day, week, month and lifespan of your trading career.

Today’s trade was based completely on price action near a resistance level which was confirmed inside a channel. Price was moving up from the pivot point from one hour ago and created a top on the channel. [Read more…]