Archives for March 2013

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Trading Against the Trend

This week has shown some pretty boring price action. It wasn’t until Wednesday when price decided to move off the cliff and push to the 1.2700’s level. We’ve been talking about this for quite a while and it finally made its way all the way to this area. Price on the daily chart has been meandering around the 1.2800 for the past week and today it finally made its move. We started watching price action push to the downside and looked for trades to go with the trend. However, today was a trade based on a reversal going back up against the trend.

[Read more…]

Close Out the Week on a High

We continue to look at price action this week and on this Friday, March 22nd we got a nice set up on the EURUSD. Price has been very choppy over the past four or five days and finally we saw a breakout to the north side. News out of Cyprus rallied the euro about 100 pips today. We were looking for call options at particular spots, but not ruling out put options along the way. Price had moved up about 50 pips from pivot when we started looking for our trade. When we started the video we were about to get in a put option that worked out very well, but we never got a fill on that particular move. The trade after that was the one we took which was a call option to the North Side at trade rush.

As price was hanging around resistance two it started to meander before falling down to 1.29446. [Read more…]

Old Trade Resistance Areas

Our latest technique of trading has worked out well lately. Looking at our old trades and using them for new trades has come up several times over the last few weeks. We’ve been keeping our purple lines on the chart where we took our trades and use them for areas of support and resistance for future trades. These lines have played out really well and continue to show strong areas of trading options. We recommend that you leave your lines on your chart, but only on the trades that were successful in the past. Try not to put every line, but the ones that show some serious signs of battle. This will allow you to take better trade yourself you keep your eye on specific price points.

The trade today had several things working for it. [Read more…]

Cyprus and Binary Options

Cyprus is a Pretty Country

This is what Cyprus Looks like on a good day

Is Cyprus on the verge of a financial crisis? This is the question on everyone’s mind and will most likely stay this way throughout the rest of this week.

Things have definitely gotten interesting over the weekend. The smallest nation in the European union struck an emergency deal on Sunday to bail out Cyprus. This $10 billion plan to rescue the small nation and its banking sector is quite large considering the size of the nation itself. A lot of people are not happy. The noticeable terms are: a one-time 6.75% tax on bank deposits of less than €100,000 and 9.9% on deposits bigger than that. What happens next is still up in the air. It’s important that you pay attention, especially if you are a binary options trader or deal with this country at all. [Read more…]

Trade Setting

If you take your trading seriously it will make things a lot easier when setting up for the day. Looking at the overall markets will help you make better decisions no matter what market you are trading. We talk about sticking with the trend over and over again. Today was one of those days where the markets were down and we decided to take a put option. This put option had a lot working for it and turned out to be a very interesting trade. If you can find interesting trades going forward you will end up making a lot more money. Be patient with your trades and only take the best setups possible. [Read more…]

Monday Binary Trading

We were watching flat markets all morning waiting for an ideal setup. Finally, this trade came to us on a pullback from the most recent whole number. We started to look at put options near the whole number of 1.3000. Price immediately dropped off to the most recent area of support a 1.29960. We went from trading a put option to taking a call option at 24 option. Sometimes when you’re looking at one direction it’s the other direction that comes in the play for a better set up. You always have to be on your toes. This is why we took our call option and price worked out really well in our direction. [Read more…]

We Love NonFarm Payroll Trades

Taking trades soon after the non farm payroll report comes out can be quite exciting. We’ve been telling you for months, that taking trades right at news time can be very dangerous. This is another post that talks about it. This is why we wait for at least a half an hour before making our next trade, whether it’s Forex or binary. To take a trade around the nonfarm payroll report can cause you a lot of money and stress. It’s best to wait for the trade set up to come to you and allow you to make the best decision possible before entering. A lot of times traders try to jump on the markets and end up losing their shirt. Sometimes, it’s best to even stay away from the market for more than an hour. This will allow even a better set up to come to you possibly.

The trade we took today occurred one hour after the news was released. [Read more…]

Taking Call Options on a Put Kind of Day

Today’s price action has been quite interesting. Ever since the middle of the night price has fallen in a fairly soft decline. Price was hanging out at pivot around 7:00am before slowly bleeding to the Southside, through support level one, support level two, and going through the whole number of 1.3000.

Although price was dropping off, it had dropped significantly enough not to consider call options along the way. If you were stuck in a couple of call options that went against, you most likely decided to switch to put options. Trading around the whole number has been pretty good, but only if you were looking at the put option side. Price has started to consolidate several hours after our trade around 20 pips below the whole number. Here is a recent whole number trade. Fortunately for us, we were able to get in a pretty solid call option and finished our trading day on a positive note. [Read more…]

Taking Calls

Finding a trade real quick can set your week up just right. After a weird weekend it was nice to get off on a positive note. Markets were opening up around pivot today, so no serious movement has set in. Last week showed lots of price action to the downside, setting up some serious trades on the EURUSD. Although we didn’t expect to see moves like last week, price has decided to hang around the whole number of 1.3000. It has recently formed a nice channel which allows traders to take the tops and bottoms. Soon after our trade was done this particular trade set up came into play perfectly.

We started looking for our trade just before the US markets were set to open. We saw a nice 5 min. Wick on the candles. We took the trade with 4 min. left to go in the expiry entry time. Price immediately jumped 5 pips in our direction and then the consolidated at that price point five pips above our entry. There was absolutely no pain in this trade and [Read more…]