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Call Option at the 52 Week High

We took a Put option this morning before we took our winning trade of the day. What a difference trading with the trend makes. The earlier trade fortunately finished at a break even level. Although the next candle worked out perfectly, it is just to hard to predict against the strong trend trades. If you ever feel like trading is going rough, remember how the trend can save you.

Once this put option closed out we were only looking for call options. It was just a matter of time until it setup. We waited for the pull back to resistance 3 which gave us a strong place to get in our trade at 24option. It only saw an ounce of pain before pushing higher making it a great winner today. In fact all EUR currency pairs have been moving up heavily. That is one thing the Forex BlackBook told us on the EURJPY.

As you can see in the chart below the price of the EURUSD had been pushing up. We were in new territory around 52 week highs. This should be an area of significant resistance. This is why we took the put option earlier near some tough areas. We ended up getting lucky, but that is okay. Our trade shows the pullback to R3 where it turned on a dime making new highs for that time. Price really never got ahead of this area again. It will be interesting to see what happens next week. We expect it to get to the 1.35000 level.
Pull Back Bounce at R3
We had a great trading week and hope you did too. We will continue trading the binary options market like we’ve been doing. Be on the lookout for a video review of the Forex Blackbook next week. We have some great screenshots and we still have some open trades. It should be an interesting week for sure.

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