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Clean Put Option at Resisitance

When trading in the binary markets you need to find areas to trade that give you the advantage. A lot of times people trade so they can just make a trade. This makes no sense at all. If you want to be successful you need to trade good setups and stick to your rules throughout the day, week, month and lifespan of your trading career.

Today’s trade was based completely on price action near a resistance level which was confirmed inside a channel. Price was moving up from the pivot point from one hour ago and created a top on the channel. Price then started to retrace back down and moved up once again to the top of the channel. Not only were these tops nice areas to trade we also had wicks formed on the candles. We use these tops of the wicks as significant levels of resistance when trading price action.

We took our put option on a secondary move near the wicks at the top of the channel. Price moved against us by maybe a pip, but in the end was pain-free and won by over two pips. These are the types of trades you should be going after all week long. Not all trades will be successful of course, but you are better off taking trades that have more potential than not. Have a good solid guess on the markets is also what you should strive for as a trader.

The image below shows a couple of trade options you had throughout the morning. As you can see on the chart at 11:30 price moved down significantly on the 5 min. chart to the pivot point. Two wicks were created at this level on those candles. Price then bounced up nearly 20 pips from that level. Several hours later as you can see in the chart, price then moved back down to the pivot. We had two solid wicks there as well and eventually the price moved up a total of 30 pips. These are the types of trades that you can search for on a daily basis and feel confident when you take them. It may take time to see these develop. Use your alerts to give you a signal when price reaches certain areas. This will save you a lot time from starring at charts.
Solid Pivot Points
If you’re still interested in learning more about brokers and where to trade there is plenty of information located on the site. We will continue to offer more information about trading and the caveats that come with it. We’re here to help new traders and experienced traders be successful in the binary options market.

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