Archives for February 2013

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Seeking Puts Near the Highs

Taking trades on the EURUSD has been pretty interesting this morning. We watched a fairly tight range between the pivot line and resistance one. Price has challenged the 1.3100 level several times as well as the pivot. In the course of the night, we saw price hit the 1.3042 level. This area has come into play several times over the past six months. Although we did not take these trades on the binary options market it is always interesting to see how price reacts at this level. Our trade today was based on highs of the day and several trading formations.

Price was coming up from the pivot level earlier this morning. It had formed a nice wick at the 1.3100 before pushing back down. [Read more…]

Taking Retracement Trades

After a really nice weekend it’s sometimes difficult to get your feet wet finding a good set up on the binary options market. Although we weren’t able to take a trade during our normal 8 to 11 range, we were able to find one just after 11 o’clock on the EURUSD. Over the course of the night we saw price climb nearly 100 pips to the whole number 1.33000. It did this relatively smoothly without too many big pullbacks. Waking up this morning to see the price climb that high and then drop off almost the same amount made us look for both calls and puts. The trend was definitely up in the morning and has been down all afternoon on the EURUSD. [Read more…]

Feeling the Binary Groove

After several days of tough trades it was nice to have one work so well. In fact, this trade never saw an ounce of pain. A pure call option to the north side. The past few trades had seen a lot of pain up until the last minute. This trade played the complete opposite role moving up right out of the gate. We didn’t see red or anything against us the whole time. This was a great way to end the week and allows us to go into the weekend with a positive attitude.

Price was set up on the most recent move to the South side; through the 1.3200 level. We noticed how price reached the low at support level one and formed a nice wick on a 5 minute chart. Price then started to climb back up before pulling back down once again, making a higher low. [Read more…]

Binary Charts Tell the Story

This trade was taken several days after our last trade on Wednesday. Fortunately, there weren’t too many setups missed over the past few days. When this trade popped on the charts we decided to make it happen. It was a cut and dry kind of trade had you waited patiently. We did jump in a little early and watched price move against us, but in the end we’ll take it after a few days away from the screen. Our goal was to hit the ground running this morning.

We actually started looking for a trade about 30 minutes prior to our entry. We noticed how price was moving up a wick from earlier this morning and pulled back quickly. After waiting another 15 minutes or so, we watched it climb the most recent wick and jumped on the put option going against the most current trend. The tight range on the euro dollar was showing only 20 pips between pivot level and resistance one. [Read more…]

Chart Trading

Our week may close early, but this trade had some nice highlights for sure. We noticed how price was in an upward trend today and we decided to look for call options. Price was coming down to an area of most recent support and that is where we decided to take our trade. The EURUSD had been up for the day and we were coming into the 9:30 opening of the US markets.

As price came down to the most recent level of support we decided to take our call option. Price went against us by two pips at the beginning of the trade, but held its ground before moving back up, closing out with a nice winner. [Read more…]

Real Quick Binary Trade Today

Although this wasn’t a super fast trade like a 60 second option, it did feel like time flew on this one. This trade happened so fast, we weren’t even able to get our recording software opened in time. We actually had to enter the trade and then open up the software. This doesn’t happen too often, but we saw set up occur took advantage of it as soon as possible. [Read more…]

Nice Setup

It’s nice finishing off the week with a solid trade. We watched the euro dollar falloff a cliff all week before reaching the whole number of 1.3400. We took a couple of call and put options this week. We were only considering put options today based on the trend of the day. Price had moved up from support level one after crashing down throughout the night. Yesterday had some huge moves that led us to our put option this morning. We took our trade at TradeRush (Seen Here) for a solid winner and we will continue to look for these trades next week.

On this particular trade price had fallen off, down to support level one. It was recently above the whole number of 1.34000. We watched how price moved up over a course of an hour to attack the whole number once again. [Read more…]

Kind of a Slow Day

Slow market conditions must be treated with a lot of patience. If you are new to trading, it’s very important to understand that not every trade will be fast acting and especially strong. Prices on the currency markets will fluctuate throughout the week. Some days you’ll see slow price action in which it will consolidate around a certain range. Other days you’ll see high flying markets where price doesn’t stop while moving over 200 pips. Either way, you need to trade based on what you see and keep your emotions in check. Don’t try to force trades that aren’t there and only take the best ones possible. Today was one of those days where some nice setups occurred, but you had to be patient for them to come to you.

Price was coming off the pivot of 1.3544 and getting closer to support level one. The 1.35000 whole number was close to this support level. Price immediately made a strong candle to the south side at this [Read more…]

Post Super Bowl Trading

We try to trade with the trend when we can. After Friday’s big move to the north side it was time for a pullback. We watched how price moved back up to today’s recent highs in a consolidation range. It then fell off exactly how we predicted it. It dropped giving us a nice 12 pip winner. By only taking this one trade we made out well. If you can avoid over trading you will be that much better off.

Any time you see price move up significantly for a long period of time, you look for pullbacks, before the continuation to start up again. On Friday we had a Nonfarm payroll trade that sent the EURUSD up to 1.3700. In that same day we watched it come all the way back over 100 pips. [Read more…]

A Sweet Non Farm Payroll Trade

Some textbook trading today on the EURUSD. We’ve seen crazy moves to both the North and south side on the EURUSD. We watched the price break 1.36000 over the course of the evening and then we watched it break even higher to 1.3670. It consolidated for a couple hours before news time. Price then jumped at the NonFarm payroll release for 30 pips. It then shot back down 30 pips before making a secondary move for another 30 pips. Since the news event has ended, prices saw 1.36000 once again and a couple hours later it is now up past 1.37000. Wild Day for sure.

Today’s trade was very interesting. We had textbook news trading all over it. We mentioned this in the video, as well in previous posts. [Read more…]