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Consolidation Bounce Trade

Today’s trade set up occurred this morning based off a mini consolidation area after a huge move down in the euro and the pound. We had set an alert to trigger our trade on certain levels so we didn’t have to monitor the computer screen for the setup. In this case the price did not reach that price level, but we did notice the small consolidation area that gave us a nice entry for a call option in a more down trending market.

This trade at 24option occurred almost 10 mins. before the expiration time. We usually get in around us 5 to 8 minutes before expiration but this one seemed a little bit early. The price went against us right out of the gate a couple of pips. The pain was limited by only a couple pips and never did we worry about the trade not succeeding because the price action was more favorable for a bounce at this particular time. Also, sometimes getting in early gives you a bit more wiggle room.

The majority of the trade stayed in the green area. Always a good thing when you are trading binaries.

We did set triggers or alerts at particular price levels in both directions for put and call options for future trading that day. Neither of these prices triggered our entry so we did not take as secondary trade. Although these price alerts may trigger at particular times you are better off understanding the market conditions before entering the trade. Had the price come down to these price levels or up to the price levels in a fast moving market the trade would most likely have been taken.

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