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Binary Trading Live Day Four

Over the course the night we witnessed the euro and the pound significantly drop to some new lows for the past couple days. After monitoring these currency pairs we noticed that the downtrend has taken over and we were currently looking for put options going forward.

This morning news came out on the US markets causing the euro to jump 70 pips in less than a half-hour. With this in mind we knew that this extended move would have some good pullbacks. It just so happened that the pivot line was right there for are taking. We saw the pivot and put in our put option at 24option.com at around 9:05 AM. This gave us a solid 10 min. of waiting time for the expiration. Not that this bothers us as traders, but the shorter your timeframe using the pivot the better.

In the end, the trade worked out really well with four pips in our favor. We did see as much as eight pips but the pivot line held.the next couple hours showed that the pivot held pretty well not allowing the price to push through completely. As of right now the price is still consolidating below the pivot. As binary option traders it doesn’t matter what happens after the trade expires, but always be aware because a new trade could form right before your eyes.

Euro Put Option

See how the price moved up quick to the Pivot and pulled back Perfectly

Not only did the euro move up around this news time but the pound did as well. The pound moved to a solid pivot point where you could’ve taken a put option as well around the same time as the euro. Had you taken the pound trade you had a big victory as well proving that the pivot points are solid trades. Support and resistance are definitely our number one goal when it comes trading. Using these pivot points need to be considered every time we trade.

If you have any questions about this particular trade please leave a comment below. We’ll see tomorrow for the trade the day.

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