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EURUSD Support Binary Trading

It took us a little while to find a solid trade on the binary options markets this morning. Once we found our particular trade we were able to enter a call option on the EURUSD based on a couple of support levels that occurred many hours prior to our entry. We had noticed how price had moved down to a certain level on two different occasions within last 30 minutes and eventually broke through that price. Once this price was broken we then looked for the most recent support level from the original support. In this case, the price was on a 5 minute wick candle nearly 10 hours earlier. We then entered the call option at the same price from 10 hours ago.

Within a minute after our entry price moved against us about two pips for only 1 minute. The next candle then shot up over seven pips and never looked back. The trade ended up closing nearly 10 pips in our favor and continued to move up to the pivot line. If you are trading on the spot Forex market or any market for that matter this would’ve been a solid trade for a good 30 pips. Anytime you can find a great area of support or resistance to trade the likelihood of winning that particular trade increases to substantially.

We mentioned in the video how price was moving up to the pivot real fast and how it would be questionable to trade a put option. That being said, the price jumped through within 3 minutes by almost 10 pips. Had you entered the trade at the pivot line itself it turns out the price worked out well for pivot put option trade. The closing candle on the 10:00am expiry was two pips below the pivot. Had you traded this at 24option.com you would’ve ended up with a two PIP victory with an 82% payout. For some reason 24 option changed up their payouts on the currency pairs across the board. This will be something we’ll have to look after going forward and hopefully it won’t get reduced much further than this.

Trading the EURUSD Pivot

Although a tough one to trade, the Pivot trade worked.

Risk Disclaimer