Archives for May 2013

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Taking Trades in Choppy Markets

Today’s price action continues to trade like yesterday and it could stay like this for a while. We saw price go up and down over 100 pips yesterday and with news coming out of the euro and US markets, price could get a bit crazy over the next few days. Usually when you see this type of movement you’re better off letting things settle down before attempting to take a trade. Today we saw some nice consolidation after almost hitting the 1.2700’s. Price came up and pushed through pivot a couple of times and eventually broke through the whole number of 1.2900. We started to look for both calls and puts at this level and waited patiently for the price to come to our spot. Remember, you have to pick your spots wisely.

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Slick Trading

It didn’t take long for us to find a trade setup this morning. From looking at the charts last night and into this morning, we knew that price below the 1.2900 level would lean towards the south side. After three attempts of trying to break through this line, we knew a pullback would occur. It ended up going all the way down to the pivot. We saw a price break through the pivot a few times only to bounce back up each time. Price then started to consolidate before the US markets opened up and this is when we started to look for our trade. [Read more…]

Tight Binary Winner

Unlike yesterday’s trade of the day, this one was a fight to the finish. Although it was a tiny winner today, the idea of taking a call option at this level worked out really well. We were using the momentum to the North Side that was brewing on the Euro and took a call option near the pivot level. Price action had recently climbed through the whole number of 1.2900. It had climbed back down over 20 pips to the pivot and this is where we started looking for our trade. The first attempt on the pivot line was definitely the best trade. Price had bounced up perfectly right after forming a nice 5 minute wick candle. Fortunately for us, price came back down to the pivot giving us our entry at 24option. In the end, if you have winner that’s what it’s all about. However, were correct on the direction after the fact as well. [Read more…]

Ideal Pivot Point Trade

We continue to only trade solid setups on the binary markets. It only took us about 20 minutes to find our trade set up this morning. We noticed how price action had hit resistance three in the middle the night. Although the spread between resistance three and pivot was not that wide, we still looked at the drop-off that occurred all the way down to support level one. Breakout traders got suckered into some poor long trades on the EURUSD last night and most likely had to sell off their losing trades. We came into the markets after the bounce off support level one. Price had climbed up to the pivot line about an hour before we started looking for our trade. Fortunately for us, price fell back down once again and on the second time up to the pivot line, we decided to enter a trade. [Read more…]

Markets Acting in a Mixed Pattern

Today was one of those days where price action wasn’t doing very much. Anytime you have a mixed pattern with up and down movements you really need to be careful with your trade entries. We started to watch the markets fall off just above the pivot level and right now it is reaching new lows for the day. With the EURUSD getting back into the 1.3000’s, it should be interesting to see what happens over the next couple of weeks. Price could move back down below the 1.3000 level and into the 1.2900’s. For now, we will continue trading what we see and look for the best trade setups possible. [Read more…]

Break Even Trades are Good by Us

Today’s trade didn’t quite finish in our direction, but it didn’t go against us either. We finished with a breakeven trade on the EURUSD trade of the day this morning. It was just before the US markets opened. During yesterday’s price action, we noticed price wasn’t making a wide range. This led to smaller distances between the pivot level and the support/resistance lines. Early this morning price had moved up to resistance one before pulling back down close to the whole number of 1.31000. We saw this as an area of support and watched the price climb back up once again. Price was driving to the North Side when we took our trade. We were seeking a put option going back down to the pivot level. [Read more…]

Binary Options Trading Worked

This was one of the better trades going with the lower trend on the EURUSD. Right before the US markets opened up, news was released about the jobs market. It appears that jobless claims are near five-year lows and this set off a drop on the Euro. The US dollar started to rally around this news and continued to push down to the 1.3063 level. We really like this level for trading. We knew price was fairly weak on the Euro at this time and decided to only look for solid put options. Had we taken call options during the fall, we most likely would’ve had huge moves against us. We usually like to wait at least 30 minutes before taking a trade after news has been released. Tomorrow will be another day of news trading based on the nonfarm payroll report set to come out at 8:30 AM Eastern standard Time.

What we liked about this trade was the drop-off and the secondary drop-off to the one 1.3063 level. [Read more…]