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Finding a Good Binary Trade

We had to wait a little while to find this really nice setup. We brought in another 42 level. This time it was the 1.3442. This price point has held as both support and resistance for a long time. It appears we have found a pretty solid area to trade around when the price gets to this location. Over the past year we’ve watched price challenge an area with a 42 level at the end. This includes any number that has a 42 at the end on the euro dollar. For example, we had the 1.3442 come into play, but in the past we’ve seen 1.3042, 1.3142 and just recently 1.3742. This will be an area we will trade going forward and we look forward to taking these setups on a continuous basis across the board. [Read more…]

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…]

Finding a Late Trade on the EURUSD

This trade came to us later in the morning, but gave us a nice winner. If you can find a good setup on the market, it’s up to you to take advantage of that move. We were able to do this today even though price action was passed our usual trading time. We’ll continue to trade the markets with our same techniques as long as market conditions are favorable.

Today, we noticed how price action was coming off the pivot level and the whole number of 1.35000. As price was coming down it eventually hit support level two and this is when we started looking for our trade. We noticed how price was climbing up and forming higher lows along the way. Eventually price action turned around at a high that occurred several hours prior this near support level one. [Read more…]

Binary Options Strategies Play a Roll

We kicked our Tuesday off with a nice winner after the US markets opened. We’ve had a pretty good few days of trading and we were hoping to have another good day today. Last week we saw winners of over 20 pips on two different occasions. This allowed us to take the simple trade the rest of the week and focus on really good setups. Today we noticed price action chopping around the pivot level. Yesterday we had a huge gap up on the EURUSD. This allowed price action to fill the gap over the course of the afternoon and evening last night. [Read more…]

Huge Binary Trading Winner Today

Yesterday we got off to a slow start on the binary options market going against the trend that was pretty strong to the north side. The lesson learned in this case was when the markets are moving firmly to one direction, it’s best to stick with that direction on pullbacks and other setups. We were fortunate to catch one of the last moves back down against the trend before the price action pushed up to new territories. We watched the price close out at the last second and then pop up nearly 100 pips after our trade was closed. Fortunately for us, we learned our lesson and took a solid trade on the EURUSD. [Read more…]

Post Holiday Trading Setup

We found this setup after the US markets opened. It took longer than we expected, but the EURUSD did drop off right when we needed it to. We were looking at lower highs on the chart coming off the 1.3400 level from last week. We are now hitting new lows for the day and week.

Price was coming off support level one and got down to around support level three earlier this morning. We noticed the price was trying to climb back up to support level two and although this was a pretty tight range we were watching lower highs develop. Price was trying to reach the highs for the day, but failed. This allowed us to take a solid trade on the EURUSD.

Price started to climb back up to support level two, but we were watching [Read more…]

Grinding a Put Option on the EURUSD

We got off to a fast start this morning trading the EURUSD. We were watching the markets just before the US market opened up. We knew price action would be in a fairly tight range before this time. Price had come down to support level three area before consolidating throughout the morning. Price started to climb back up to support level two and we decided to take our put option on the EURUSD. Lucky for us this trade closed out just before a significant move to the North side. [Read more…]

Trading Binary Options in August

Today’s trade had breakout written all over it. We finally broke through to some new highs and that led us to a pullback trade. When trends are really working those are the best trades to take. You try to stick with the trend and wait for a nice pullback area. Don’t take the trade too quick, but in time a setup will occur. By catching this before the US Open meant price was pulling back perfectly for a call option at Traderush. Try to find an extended move on a pullback in this case. We had a couple of pips in pain, but never a doubt in the end. [Read more…]

Finding the Best Trade

We started looking at the charts this morning knowing we were back to where we were last week. There is one thing about trading that will always exist. No matter what day of the year you can have a boring session, boring week, or even a boring month. This means price action isn’t doing very much to set up nice trades. Although we’ve been seeking the best trades possible, it is sometimes hard to find the good ones. Today, price action came back to an area where we were trading all last week. The 1.3242 level is back in play once again and we will continue using it as a trading idea. Even though price can move very slowly and stay in the same range, it’s up to you to take advantage of the knowledge you have on these areas. This is why we have support and resistance levels, not to mention the purple lines throughout the charts. This will allow you to find a trade that should work. [Read more…]

Finding Trades in the Chop

We got off to a weird start this morning. We were watching a trade develop in choppy market conditions, when we finally took our put option just before the US markets opened. The interesting thing about this trade was that we entered on the wrong expiry. It turned out to be the expiry after the one we thought we were getting into. Of course in the end we got lucky and had a nice winner. Our prediction was correct, we just had to wait a bit longer. With so many things going on while recording, we must have fat fingered this option. Fortunately for us we got away with it today. We did enter this trade at GTOptions, which has been really good to us lately. [Read more…]

Non Farm Pay Roll Binary Trading

We had a really nice setup today on the binary options market. After watching the news event at 8:30, we knew we had to wait a little while before we entered our trade. Over the past year we’ve been talking about waiting for a good trade set up to occur after 30 to 45 minutes when a news release comes out. This allows us to remain patient and avoid any whipsaw action. Today we had the nonfarm payroll news event, which moved the EURUSD nearly 80 pips to the north side. There were definitely some happy news traders today riding this trade up for big winnings. Although it looked like the price would breakout to new highs it failed to commit to the north side anymore than the initial move. This is when we started looking for our call option at trade rush.

Price formed several nice [Read more…]