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Chart Trading

Our week may close early, but this trade had some nice highlights for sure. We noticed how price was in an upward trend today and we decided to look for call options. Price was coming down to an area of most recent support and that is where we decided to take our trade. The EURUSD had been up for the day and we were coming into the 9:30 opening of the US markets.

As price came down to the most recent level of support we decided to take our call option. Price went against us by two pips at the beginning of the trade, but held its ground before moving back up, closing out with a nice winner. Within two to three candles, we watched price move in our direction and continue to move in our direction after the trade was closed. Picking the right direction while trading binary options is critical and gives you a lot of positive movement when you are with the trend. Currently, price has now fallen off below our original entry and could set up some nice call options around pivot level. This is definitely a location you should be following as the day moves forward. Some big candles are forming right now. Check out this old trade that had similar price action.

In the chart below you can see a one minute EURUSD chart. Notice the green little arrow where price at 24 option was entered. You could see the little doji candle right after that. Price then had two jumper cables to the North Side before slowly drifting in a sideways pattern. Price closed on the candle just before the next jump from resistance one. You can see our price then moved up through the highs of the current hour giving this trade a great set up for us at binaryoptiontrading.com. These are the types of trades you want to look for when seeking your own trades no matter which broker your are using. It helps to have the trend at your back to make moves more valuable.
One Minute Chart Showing Our Setup
Speaking of trading, Forex Black book has been acting really well over the last couple of days. Although we didn’t have it in our charts, the Pound New Zealand dollar trade on February 12th, with the trend, is showing some great movement. We will discuss this in another video next week and hopefully some of you will pick up this product. Price has moved from 1.8730 all the way down to 1.8496. This is a 200 Pip move in 24 hours and could have been yours if you are trading with Forex black book. Although the pound New Zealand dollar isn’t normally a currency pair you would look at. When you’re looking for trend trades it becomes a very powerful asset. It tends to have a lot of fluid moves when the trend is decided.

We will continue trading binary options next week so be on the lookout for our latest videos and everything else we have going on. If you have any questions about the binaries you can always ask below or use the contact form on our about us page.

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