Start Trading Binaries with the FREE Binary Options Robot - CLICK HERE

Binary Trading North Side

Price action was pushing to the north side this morning, but has pulled back since the highs of the day soon after our trade was over. We decided to take our trade around the 1.3542 level and by the time the trade closed out, we had a winner. We were watching price action climb to resistance two and gradually come back down to this trading area. It had formed several extended moves and this is when we started looking for our trade at Redwood options. Any time you’re consolidating before the US markets you can look for a trade within the channel and try to grab a good entry.

After our trade yesterday, price action gradually climbed up nearly 70 pips. This was the highs of today with a nice five-minute candle reversal at resistance two. Price fell off quite a bit after these highs were reached. Most Forex traders that were taking long trade at this level are now getting burned pretty bad. Hopefully good stops were put in place to avoid drastic losses. We are in a slow moving week with the Thanksgiving holiday coming up. However, there is always price action to be traded during this time of year.

In the image below you can see how price action climbed to the resistance two level before falling off heavily. It came down to the 1.3542 level and extended past it a couple of times. It repeated this on two different occasions. Notice our green arrow is where we entered our call option. Price climbed before closing out one pip in our favor. Soon after our trade was over price immediately dropped hard down to the 1.3520 level. This is the pivot level for today. Price has since climbed back up and formed a nice base at the pivot. As we write this post we see it climbing up to resistance two once again in which it formed another wick candle. This is shaping up to be a very choppy day, so please be careful with your trading for the rest of the week. If you’re located in the United States your most likely not trading on Thursday, but all the markets should be open based on the world not being completely involved in this holiday. Although price action will be slow there will be some trades to be had.
A tight win for us
We continue to trade at Redwood options and have had pretty good success. We’ve had a lot of questions about this broker and how you can get started. All you have to do is click the link below and set up an account. It’s really that easy. We’ve also revisited 24option the other day and created an updated review on 24 option. This is for traders outside the United States. We had one of our fellow traders who trades with them fill us in on how things are going. This allowed us to create an updated version of our review that we did many many months ago. We’ve always liked 24option and we will continue to recommend them to people outside the US. Having one the best software platforms, it makes trading a lot easier for many different people. If you are new to binary options you may want to check out 24 options before you go anywhere else.

This is the week of Thanksgiving and we give thanks to all of our traders out there that have been with us on the channel and on the website. We look forward to continuing our trading videos and website. We also recommend you get involved on the channel and on the website to allow our growing community to continue. This allows us to make a better community in the binary options market. Have a great weekend and we’ll be back on Monday with the trade of the day.

Risk Disclaimer

Comments

  1. Hello Rich,

    Thanks for the great article, I really enjoyed reading it.

Speak Your Mind

*