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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. We then noticed price climb for five candles. We started looking towards the 1.3100 whole number for our put option. We weren’t sure if the price would get there in time for our trade to happen. We entered a put option based on resistance of the other candles in the original drop-off. Price then moved in our direction and never looked back. By the time the trade closed out 10 minutes later, we had a 15 pip winner on the EURUSD at 24 option. Price tried to climb back up on the next two candles only to fall off and reach new lows for the day.

As you can see in the chart below price action started getting a bit crazy around seven o’clock this morning. Price jumped up to new highs above the 1.3200 level only to drop from there. The one super candle that occurred moving through three support levels gave us indication not to take call options. You can see on the chart, how price was climbing back up to the whole number 1.3100. The arrow on the chart also indicates the entry for our put option. Notice the next two candles were down significantly. We actually caught the top of that green candle and that’s why we had a 15 pip winner today. Anytime you can take a trade like this on a fast-moving market, you should feel good about your binary options trading.
This trade worked out well
We continue to seek trades they give us the best possibilities for winners. We will do the same tomorrow. Remember, we have a NFP news report at 8:30am Eastern standard Time, so it could be quite a ride. Make sure you’re not trading around that particular time. Let the news to digest for about 30 minutes before opening the door for more possibilities. Unless you see a perfect entry, avoid trading during the whipsaw action that can get you and out of a trade within seconds. If you have any questions about nonfarm trading please let us know we will try to help you out.
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