Archives for November 2012

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Extended Move Traded

After a huge trade yesterday, it’s always nice to end the week with another solid trade. We spend our time seeking the best trade setups on the binary options market and today we found one that worked out really well in our favor. Sometimes it’s best to have the trade setups alert you to look at the charts versus just watching them continuously. This allows long candles or certain price points to tell you that a trade option is available. Today we took advantage of an alert that occurred around a news event on the EURUSD. In the end, the trade worked out really well. We also may have found the low of the day on this particular currency pair.

Around 8:30 this morning news came out in the US market. This event contained the personal income numbers. This is not considered a huge mover for the markets, but for some reason the price dropped significantly pushing past the pivot line. This extended move past the pivot line was a sure trade for us. We entered about six pips below pivot line seeking a retracement back into the news price. People have asked about news event trading and how I can help them make money quicker. [Read more…]

Put Option and EURUSD Forecasting

Finding the best trades is what it’s all about when binary trading the EURUSD. If you try to make trades just to be in a trade, you will most likely end up losing. Although we got to the office a bit late today we noticed price action was moving to the northern side and with some serious momentum. Price climbed to support one from just below support level two giving us an area to take a put option on the EURUSD.

As price came up in a fairly quick pattern we entered our trade at 24option just shy of support level one. We were unable to get in a bit later based on the expiration time. This makes it difficult sometimes when trying to take the best trade possible. However, we felt confident enough for the price to [Read more…]

Post Holiday Binary Trading

Sometimes you just need to be thankful that you found a trade. Today was nothing special after the long weekend in the United States. I was pretty excited to look at the charts this morning only to be disappointed by the lack of activity. The EURUSD wasn’t making the moves that it made on Friday or anything similar to that fashion. With so many days off you just want to get back in the game and have everything start to flow the way it was, but sometimes you just have to take what you get.

Today’s trade was based on price action that was forming in a tight channel. This channel formed a descending triangle on a 5 minute chart. This isn’t normally a pattern [Read more…]

Thanksgiving Binary Options Trading

Today’s trade was based on price action moving up from the lows of the day at support level three. We watched price come up from this level after last night’s significant move down. What we were seeing was price being reversed from the lows of the day. Anytime you see price move one direction, and then come back into itself, makes trading pretty interesting for that particular day. [Read more…]

Nothing Fancy With This One

Not all trades are going to be gorgeous. In the end, it is better to have a winner that is ugly than a loser. Being lucky does come into play when trading, but try not to trade based on luck. Today’s trade was created based on price action moving to the north side. Price was up past resistance one to a previous area of resistance. We did notice the time of a 9:15 expiration. Had this been closer to 9:30 or 9:45 we probably would not have taken this particular put option. US markets were showing strength at the beginning and it’s questionable to take a put option in this circumstance.

The trade was entered on a candle thrusting to the north side, however 24option gave us a pretty poor fill that went one or two pips in the opposite direction before our entry was filled. [Read more…]

Several Nice Binary Options Setups Today

We’ve been watching several price action trades, not only today, but throughout the week. These trades were set up based on support, resistance, pivot and our purple line of 1.2750. All these areas created several trade options for you throughout the week. We mentioned in today’s video how the lines aren’t necessarily entry points every time price hits. However, when used in conjunction with other catalysts these lines can be very profitable over time and the patient traders who wait for the best setups will make the money in binary options.

Today’s trade was based on price action coming down from the purple line of 1.2750. Price had created a low which we did not take and then continued for an extended low. This was available for us to take a call option. This occurred at support level one which became a nice area for a bounce. Price went against us by only a pip before moving up, closing five pips in our favor. [Read more…]

Purple Line Makes Another Great Trade

When it comes to trading in any market we try to focus on what has happened in the past and how we can make the best educated guess about the future. Of course not every trade will go according to plan, but this gives you a better idea of whether to enter a long or short trade. No matter what market condition you are in, knowing what has happened in the past can help you make the best decision on any particular trade. Today we were eyeing our purple line. Yet again today, it came in to play several times, giving traders plenty of options to trade.

The trades today were focused on the purple line at 1.2750. This area had been a support and resistance area for quite some time and we knew if the price came up to it there would be a nice put option setup. About one hour prior to this trade price had moved up to this same area in a rapid formation. These candles attacked the purple line and formed a huge wick [Read more…]

Monday Binary Trade at Higher Lows

We witnessed over two hours of consolidation on the EURUSD with a range of only 10 to 15 pips. This made trading a bit typical, but still a trade set up was available for us and turned out to be a winner. One of the things we’ve talked about in the past are how higher lows can come in to play for picking a direction. In this case, we saw four higher lows to the north side.

For the last six hours we watched price move up and came back down in a continuous pattern. It wasn’t until price consolidated for over an hour where we decided to take a call option. This call option was at the lows of the consolidation area. [Read more…]

Great Setups

For the past 48 hours people have been focusing on the elections in the United States. This post will not be about the election, but will be focused on how it affects the markets and how you can make profits going forward.

Today’s trading action has been quite bizarre. We noticed how price moved up through resistance three last night before pulling all the way back down to support level three this morning. Price has been very active which is a good thing for any trader. Between the hours of seven and 9:30 this morning we saw at least seven great setups that were in play on the binary options market. [Read more…]

Monday Trading Before an Election

You always want to get off to a good start with your trading especially in the beginning of the week. Monday trading dictates what can happen for the rest the week. You can watch the markets all night and all day, but if you take the one trade that works in your favor, it can make the rest of your week that much better. This morning we were looking for a trade after price came down about 70 or 80 pips from the pivot line. Market momentum has been to the south side recently and will continue to be mixed until after the United States elections are over tomorrow.

The trade we took today was based on price action coming up from below support level two. We wanted to take a put option around this level giving us a nice trend trade on the EURUSD using the top platform by 24option.com. Price was floating up to support level two and extended past it just recently before [Read more…]

Reversal Trade

Another trade in the bank after a solid Nonfarm payroll report. The first Friday of every month the US economy reports how the job market looks. This report will dictate how the economy is looking and how price action will be affected for the rest of the week. In this case, the report was slightly average, but the price on the Euro dropped significantly to the south side. When you come into the markets knowing the prices are moving in one direction or the other you need to determine which trade is best for the situation in front you. We were seeking a reversal trade near lows way past support level three. Although the price range on the EURUSD was not that wide, the extended move was pretty significant.

As price moved down after the news report at 8:30 this morning we saw a deep extended move. Price then formed a nice solid wick candle near lows that occurred around October 10th. We waited [Read more…]