Archives for July 2013

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Monday Trading on the Binary Options Market

The markets got off to a slow start this morning, making it difficult to find good trade setups on the binary options trading platforms. We started looking at trades before the US markets opened up. Price action was slowly dropping from the highs of the evening last night. Nothing showed signs of a good place for call options before or after the US open. Trading was fairly flat and the range has been really tight on the EURUSD. Price was coming off the pivot level and hitting support level one and two. It wasn’t until price extended through the second support level to our purple line of 1.3242. This is where we decided to take our call option. We got lucky to get a nice small winner today at GT. What will happen later is too difficult to say, but be sure to trade only the best setups. Wait for the price action to show you a good trade. [Read more…]

Taking Trades Again

When you can start your morning on the right side of the market it can make your day that much better. Since yesterday, price has tested the 1.3200 level on three different occasions. This allowed us to look for trades around this price point and follow a trend that was starting to form. Price eventually pushed down to the pivot level and extended through this area. In a matter of time, price climbed again back up to 1.3200 level. We noticed several wicks forming on both five minute and 15 minute candles which allowed us to take a put option today using the GToptions platform.

Price was steadily climbing back up, but hitting a lot of resistance trying to get back up to 1.320 area. [Read more…]

USDCHF Trading

This trade came to us right after we looked at the charts. There was no hesitation at all. Sometimes trades come to you quicker than you expect. There are plenty of times when it’s like watching paint dry before you get in a trade. For today’s trade, on July 19, 2013 we found our trade within minutes of opening our charts. Usually we scan 5 major pairs on the currency markets. These include the EURUSD, GBPUSD, AUDUSD, USDCHF and USDJPY. Once we see something we like, we start to figure out were our best entry will be for the particular trade. In this case, it was the USDCHF(CHEF) that we took our trade. Price action across the board was pretty tight and choppy. The Chef was channeling perfectly for us on a 5 minute chart. This is when we noticed the price hitting the lows of the channel and pulled the trigger [Read more…]

Monday Trading

This trade was found just before the US markets opened. We started looking for a trade just before nine o’clock this morning. Although we were considering a long Forex trade around 8:30 AM we did not take it. Price action did move up nearly 50 pips from the whole number 1.300 all the way back up to the pivot level. It wasn’t until just before the US markets opened up when we took our call option trade at the purple 1.3042.

As price was consolidating just above this purple line, [Read more…]

Binary Trading Today

We had a nice start to the day with a pop into resistance. The EURUSD has been getting hammered over the past few weeks and we started watching the price rise up into a resistance level of 1.2828. This price has held four different times over the course of the morning, setting up nice trades for put options in short trades on the Forex market. As price was climbing up around 9:10 this morning we decided to take a put option at and we immediately saw price move in our favor. Due to the weakness on the Euro, put options were the only play we were looking for today. Although there were some nice setups for call options at the pivot level, price is just too weak for us to look for long trades right now. [Read more…]

Strong Move for the USD

This trade came to us about 45 minutes after the Non Farm Payroll report came out. We waited patiently as price was falling hard on the EURO. The price was hitting lows of March and May. It didn’t look like there was going to be a bottom in sight, but we did see two big five-minute wicks form on the EURUSD. This is when we decided to take our support call option back up to the north side. Price immediately climbed in our favor and never looked back. Price moved up almost 11 pips in the first 2 minutes of our trade and by the time this trade was finished, we had a solid winner at Traderush.

We were coming off the holiday of July 4, 2013. It’s sometimes hard to get back in the groove after a day off of trading. [Read more…]

Getting Back in the Binary Groove

We had some time off last week and it’s good to be back trading binary options. Price action was a bit weak this morning, but we were able to find a setup that worked in our favor by a small margin. We took this trade at Traderush just before the US markets opened around 9:20am, as price was climbing up from some recent lows. We saw price get above the pivot level. We entered our put option, looking for a move to go down to the short side. Although we got in this trade during the middle of the expiry. We were able to get a winner in the last minute/second. [Read more…]