Archives for April 2013

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EURUSD Breaking Above Resistance

Now hitting Resistance three, the Euro has climbed nearly 100 pips in just a couple of hours. It’s almost like the light switch went on and things took off. We were watching this morning how price consolidated for a good six hours. The price was located just below the pivot level most of this time.

Finding a good trade set up in this range was quite difficult. Just prior to this consolidation price had reached the whole number and above 1.3100. We knew that momentum could build to the North Side. It wasn’t until roughly around nine o’clock this morning, Eastern standard Time, in which price started to make its move. Price climbed over the next two hours up over 100 pips through resistance three. It’s now hitting the range of 1.3183. We will definitely keep an eye out on this price level and the whole number of 1.3200 over the next day or so. [Read more…]

Change of Direction in the Markets

A little bit of news can make the markets change direction very quick. We watched the price of the EURUSD climbd to some nice gains, extended through resistance three. Price action formed a couple of candles above this line and eventually started its freefall. News came out out of the euro zone that Spain and Greece were suffering the worst jobless rates in many many years. This news caused the euro drop down relatively quick over a course of an hour. With the drop of over 100 pips, price action has dictated a huge reversal in the most recent trending market. Although there were some possible call options throughout the early morning, it wasn’t until after the US markets opened, when we started thinking about call options. [Read more…]

Finding Whole Number Setups

We took Tuesday’s trade before the US markets opened up. Something that stood out this morning before we started looking for our trade was the action based on a 15 minute chart. We noticed two significant 15 min. candles pointing to the south side that were just above the pivot level prior to the move. Price was hanging around the 1.3042 number before dropping nearly 100 pips to the south side. Price formed several wicks near support level three and eventually found a low. Price slightly stair stepped back up above support level three before consolidating once again. This is when we started looking for our trade using the 24 option platform. [Read more…]

Put Option on a Jumper

We used a jumper candle to help us find our trade today. After a long day yesterday without a trade it was time to find a good setup. All morning the charts looked bleak. There was nothing setting up to our liking. We watched a pretty strong channel form, but other than that we waited for price to make it’s move on the EURUSD.

Finally around 10:30 this morning we saw a break to the north side. Price climbed from the bottom of the channel to new highs for the day. [Read more…]

Winning Trades Based on PullBacks

After a scary day yesterday it can sometimes be tough to get back in the groove. Here at binaryoptiontrading.com we like to focus on the positives. By doing this, we will focus on a binary trading and taking good setups on the markets. The US markets are bouncing back pretty strong today after yesterday’s huge selloff. Price on the Dow Jones dropped over 250 points and gold was off by over $100. Any time you see this type of price action in the markets, there is definitely a changing of the way people are trading. Yes, most likely profits were being taken, but at the same time, you need to consider this a wake-up call if you’re in the long-term upside move. As binary option traders we don’t necessarily worry about this so much, but it’s important to keep in mind when taking trades. [Read more…]

Finding Good Setups Using MT4

Every time you take a trade it’s not about what happens at the beginning, but it’s the ending part of the trade that matters. In today’s trade we noticed how price action was against us pretty quickly at the beginning. After several minutes of pain, price did started moving down in our put option direction. By the time the trade was expired price had moved five pips in our favor, giving us a nice winner to close out the week. Ending the week on a good note always feels good and allows you to walk away feeling strong and ready for the next week coming up. We’ll continue to take trades like this, however we will also continue to look for the best possible setups. [Read more…]

Trading on Hump Day

After a long night of working on the new web design for binaryoptiontrading.com, we finally got around to taking a trade this morning around 11:00. It definitely took a while to find a good set up to trade. Although there were a couple of setups that occurred throughout the morning it wasn’t as clear cut as it’s been the rest the week. We were trying to find a trade that suit our needs, but also allowed us a good entry point so we wouldn’t have to much pain potential. Today, we were able to launch the new design and take a trade. [Read more…]

Taking Trades After Bad News for the US Economy

You never know what you’re going to get when trading the non-farm payroll report on the first Friday of every month. Last month we saw stellar moves on this report giving us nice setups throughout the whole day. Today, the news was pretty bleak for the US economy, causing the euro dollar to jump 75 pips to the upside. News traders who took the pop made out pretty well on this move. We waited over an hour to take our trade, which was against the current news trade trend. We noticed price was not moving up and only consolidating below the highs of the initial move. When this happens we have a tendency to think that put options are better than calls. This is based on the already extended moved the north side.

We watched price consolidate between 1.3000 and 1.29824 for about an hour. [Read more…]

Trades Based on Consolidation

We’ve had some good trades over the past few days and this was another that played in our favor right from the beginning. As we hit resistance one about 40 minutes after our trade, we are still enjoying our entry point. This consolidation area after making highs of the day was a predictor for our call option at 24option.

Over the course of the night we saw price hang around the pivot point of 1.28339. Price eventually consolidated down to the trade of the day that occurred this week at 1.2813, before pushing back up once again. Price then peaked above the pivot level making some new highs, [Read more…]

Binary Trading After the Easter Holiday

You never know what you may get when trading after a holiday such as Easter. Today, we we were able to find a setup quicker than anticipated. This EURUSD trade was taken at 24option and allowed us to walk away with a winner early this morning. We hope more trades act this way the rest of the week.

The past week showed signs of up-and-down movements that were quite tricky to trade on the binary markets. Finding good setups was difficult and emotional situations came into play quite a few times. This post holiday trade was a pretty clear set up at a pivot level. We watched price reach the highs of the day for the second time and bounce off that level, back to the North side. [Read more…]