Archives for January 2013

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Purple Line of 1.35000 Gets Broken

We knew the purple line of 1.35000 would get broken when no one was watching. It busted through this price in the middle of the night. Had you been awake, some nice break out trades were available. It’s okay to miss the original entry of a significant whole number. What you try to do is emulate what just happened in the future. In our case, we watched the price move almost identically to the action this morning. Price had moved up through resistance three before pulling back and creating our entry.

We watched price drop off from the resistant three area for a couple of five minute candles. [Read more…]

Sticking with the Strong EURUSD Trend

By riding the trend, the binary options market trades become a lot easier to play. Once you decide to only take trend trades you will see your winning percentage go up. It’s amazing how trades will keep it close every time you are with the trend win or lose, but if you are against the trend, you will see strong moves go against you. This is why when we have the chance, we will follow these rules.

Our trade today was based on the EURO-Dollar consolidating just near resistance one. Price action had fallen off about 15 pips from the highs of the day. As price came down to an area of support that we witnessed [Read more…]

Call Option at the 52 Week High

We took a Put option this morning before we took our winning trade of the day. What a difference trading with the trend makes. The earlier trade fortunately finished at a break even level. Although the next candle worked out perfectly, it is just to hard to predict against the strong trend trades. If you ever feel like trading is going rough, remember how the trend can save you.

Once this put option closed out we [Read more…]

Cold Binary Options Trading

It’s a 7 degree day out, but that doesn’t stop the markets from around the world from opening. As long as you can handle a little pressure you can handle trading in the binary options market no matter what is happening outside. We witnessed yesterday’s trading activity to be quite boring. Although we did not take a trade we did look at the markets and how they fluctuated. Price action had a range of about 60 pips (Very Small). Today’s set up was based on that small range. When you have a small move the day before, it usually makes the support and resistance lines less effective. The one line that we like to trade is the pivot. We based today’s price action around the pivot and that is where we took our call option.

Price had moved up about 50 pips in the night and continued to drop after that for 50 pips. Price once again moved up, close to the high of the day before pulling back to the pivot line. We then started looking [Read more…]

Double Bottom

After yesterday’s lucky trade we were definitely looking for a cleaner setup. Markets weren’t necessarily trending over the course of the night which let us take either Call or Put Options. The table was open for all kinds of trades. It wasn’t until the US markets were about to open when we took our trade.

Price had formed a new low about two hours prior to our entry. We watched how price was coming down to form the double bottom. we like to trade double bottoms because they have a tendency to hold [Read more…]

Moving Right Along

Last week we had some serious moves to the North side on the EURUSD. Our goal today was to seek trades near support levels that were ready to make a bounce with the overall trend. Over the course of the night we saw price move through resistance two, but by the time the morning came around we started getting below resistance one. This is why we started looking for call options at 24option.com.

Priced started to consolidate after forming a new low around 1.33335. The euro came up to almost touch resistance one but failed three different times forming nice five-minute wicks on the chart. [Read more…]

Forex Black Book

Coming live to you in February, The Forex Black Book will be available for consumer use. This proprietary software has been used by Dustin Pass for a many years. He’s finally decided to bring it to the people. We’ve known Dustin Pass for over 5 years and this trading product is shaping up to be a real good one. We’ve Beta tested for several products in the past, but this one just made a lot of sense. We know the majority of information on this site is about Binary options, but this is a great complement to Binary Trading. It allows you to day trade the binaries and look more long term on the Forex market. By going through this Forex Black Book Review you will learn about what it is, how it works, and how you can take advantage of it. [Read more…]

Monster Moves on the EURUSD

Taking advantage of smooth price action is critical if you want to be successful. Yesterday and today were filled with great entries. Keep an eye out for continuation candles and much more. We talk about yesterdays price action below, but that was amazing. There was nothing getting in the way of the EURO. Today was shaping up okay, but it wasn’t until around 8:45 where price decided to move with some continued momentum. Trading Binary Options became easier as price moved.

The trade we took today was coming off a pullback after big move to the North side. We noticed how price pushed through resistance one, the purple line of 1.3300 and resistance two. We weren’t thinking put option [Read more…]

Trading Call Options Near the Low

If you watched the EURUSD this morning, you witnessed several trade setups. As price was coming off the pivot level of 1.3091 we started to think call option. It wasn’t until around 9:30 where we entered our trade. Price formed a nice move past the support level two. Price also hung around the purple line of 1.3042. This line has been in play for several months now, and continues to be a catalyst for a lot of trades.

Our trade was designed around several wicks and consolidation that occurred during the 9:00 hour. We noticed price wasn’t making too many new lows, but wasn’t strong either. We took a call option thinking a bounce was about to occur. We’ve noticed over the past couple of days, how price was trying to make new lows only to bounce quickly after the new lows were created. These type of moves are almost consider like fake breakouts [Read more…]

Trading the EURUSD Support

There were several good setups through out the night on the EURUSD. If you waited patiently you most likely caught one or two of these trades. Price was consolidating around pivot all morning, but was still making solid channel trades. This is the first day back after all the holiday trading we’ve been facing. It’s good to see markets move again. Our trade was setup using the good ole pivot. As long as the pivot stays in play we will also.

Price had finally pushed through the pivot line around 8:30 this morning. It started trending in a sideways formation for the next hour or so. As price fell back down into pivot we entered [Read more…]

NFP Binary Trading

You never know what you’re going to get when news comes out at 8:30am, on the first Friday of every month. Today was no different. Price on the EURUSD has been getting beat up the past two days. This news could have caused the EUR to see monthly lows or allow it to hold on to it’s strength. So far, price is a bit weaker. However, bulls are stepping in and making the push for a higher EURO. It’s best for this week to be over so we can focus on next weeks trading post holidays. [Read more…]

EURUSD Put Option Fiscal Cliff Style

We opened up the new year with a solid put option on the EURUSD. A win to start this short week will hopefully be a guidance of what’s to come in the near future. A trade was spotted early this morning, but we weren’t able to get in it. It was a pain free call option at the R2 line. It took us a while to find the next setup, but it paid off greatly a couple of hours later.

After the missed trade early this morning on a call option we started watching price move back up into an area for potential put options. Price gravitated slowly to the North Side several pips. As price started to consolidate it [Read more…]