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Cold Binary Options Trading

It’s a 7 degree day out, but that doesn’t stop the markets from around the world from opening. As long as you can handle a little pressure you can handle trading in the binary options market no matter what is happening outside. We witnessed yesterday’s trading activity to be quite boring. Although we did not take a trade we did look at the markets and how they fluctuated. Price action had a range of about 60 pips (Very Small). Today’s set up was based on that small range. When you have a small move the day before, it usually makes the support and resistance lines less effective. The one line that we like to trade is the pivot. We based today’s price action around the pivot and that is where we took our call option.

Price had moved up about 50 pips in the night and continued to drop after that for 50 pips. Price once again moved up, close to the high of the day before pulling back to the pivot line. We then started looking for our trade on a call option right around the whole number of 1.3300. Price formed a new low of the last hour creating a nice wick just above this level. We took a call option on this candle on a 5 minute chart giving us a 7 Pip victory. The chart told us to enter the call option just before the US markets opened. We use this as a pretty strong catalyst to ride fake breakouts.

Fake breakouts are something you want to avoid at all costs. Continue to watch the charts as they develop around new lows or new highs. Price was extending through this area of 1.3300, you should still be careful around the time frame you are trading. For price to move through it by a few pips and knock out any stops below that, before moving back up is very common. If you don’t watch yourself you can get trapped in a trade and lose your binary options trade for that moment.

The image below shows the price action from today. You can see how price had moved up and then moved back down. It continued to move back up again before consolidating around the pivot line. Price formed a wick as shown on the chart and that is where we entered a call option. Price never went against us and continued to north side, closing out as a nice winner for the day. These are the types of trades you should seek before the US markets open.

Trading the Big Wick on January 22
Since the close of the trade price has moved further down to the South side. It is now around support level three, almost near the lows of the day. It should be interesting to see how price action will proceeds at this level and should be considered call option potential. Until we see new lows of the day we will continue to look for call options versus put options. Once broken, put options become more in favor on a day like this.

We will also continue to trade gold on the binary options market. We did trade gold at 24 option the other day and we traded the EUROUSD at Bank de binary.

We’ve also been beta testing a product called for Forex Black Book. This product is a Forex trading software that allows you to take trades based on current trends and analysis. We will continue to beta test the software and give you a full review in a video format soon. If you would like more information about this particular product today you can check out our page concerning this product software.

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