Archives for October 2013

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Binary Trading Nice Resistance Areas

It didn’t take us long to find this trade setup. We noticed an area of resistance and saw how price was challenging this area. We also saw a nice 5 minute wick to base this trade. Our Redwood Options trade kicked off with about 8 minutes to go. This trade occurred before the US markets opened up which gave this trade a lot of potential. Momentum was pointing to the south side this morning and we decided to stick with that trend. Price had made lows earlier in the morning roughly around 20 to 30 pips below the area where we took our trade. We then waited for the opportunity and when it showed us sometthing we took it on the EURUSD.

Price action had just made a nice 5 minute wick that was pointing to the north side. At this particular time it had just climbed above support level two. We then watched price action climb back up and challenge this area about 20 minutes later. [Read more…]

Breakout Trading on Yearly Highs

We waited an hour for the NFP news to digest. It allowed us to find a setup that worked out pretty well at the last second. The image below will show you what happened after our trade was over. Either way we had the right idea and it continues to move in our original direction. Forex traders are living pretty good right now based on this news event. Had they used Straddle Trader for their Forex system they would of had a nice news trade on their hands. Taking advantage of big moves like this is really nice when you have the opportunity. For us, we were looking for the trade after the news consolidated. Once we saw a pullback already happened we were then thinking breakout. This is when we decided to get our trade going near the highs of the day. [Read more…]

Trading a Whole Number

It took a while to find this setup, but after the US markets opened, we were able to find a good trade. We started looking at the EURUSD on out Metatrader charts. We noticed how price action came down from the pivot level pretty hard and hit the area of 1.3500. We then noticed price pushed through this whole number and started to consolidate pretty heavily for the next few hours. Once price started to move back up into the whole number we then decided to take a put option. We took this trade at Redwood options and we’ve been trading with them successfully for quite some time now. Make sure you check them out and set up an account when trading the EURUSD. [Read more…]

Trading Online For Some

By waiting patiently you will discover a lot more opportunities when trading no matter which market you are looking at. Today, we noticed the flat futures on the US market and the fairly flat market on the EURUSD. As price was climbing to recent highs this is where we decided to take. It didn’t take long for price action to move up to these highs and it didn’t take long for the price to drop off in our favor.

When times are slow it is imperative to wait for the setups. We were watching how price was climbing up to the resistance one area off the pivot level. Price had one big five-minute candle that moved up and then had pulled back for the next 10 minutes. Price than began to rise once again and this is we entered our put option. Price [Read more…]

Taking Binary Trades During a US Govt. Shutdown

It’s Tuesday, October 1, 2013 and we just took our morning binary options trade on the EURUSD and it ended up working out really well. Today has many different factors involved when it came to our trade. The US government is going through the shutdown process because the Democrats and Republicans can’t get along once again. This has led to an interesting price action market on the US dollar currency pairs. We tend to look at the EURUSD and that is exactly what we did today at Traderush. We talk about news trading and pleading for position after the news comes out. This is a critical piece to taking trades on a news trading kind of day. Fortunately for us, we traded the EURUSD just before a significant news event occurred. [Read more…]