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Extended Move Traded

After a huge trade yesterday, it’s always nice to end the week with another solid trade. We spend our time seeking the best trade setups on the binary options market and today we found one that worked out really well in our favor. Sometimes it’s best to have the trade setups alert you to look at the charts versus just watching them continuously. This allows long candles or certain price points to tell you that a trade option is available. Today we took advantage of an alert that occurred around a news event on the EURUSD. In the end, the trade worked out really well. We also may have found the low of the day on this particular currency pair.

Around 8:30 this morning news came out in the US market. This event contained the personal income numbers. This is not considered a huge mover for the markets, but for some reason the price dropped significantly pushing past the pivot line. This extended move past the pivot line was a sure trade for us. We entered about six pips below pivot line seeking a retracement back into the news price. People have asked about news event trading and how I can help them make money quicker. We normally try to stay out of the markets around news time because the volatility can crush your account. However, in this case we decide to take this trade because the news event was not that big of a deal.

We witnessed three strong candles pushing past the pivot at around 1.2968. Our entry was perfect, giving us a seven pip winner in the end with no pain at all. We took this trade at 24 option today. We may also bring in another broker that we’ve been looking at as well. More information is still in the works and if things work out we’ll start putting them in the mix. One of the main reasons we like to spread our money around at these different brokers is to get better fills, pay rates, and the best trading time frames we can find.

The image below shows the trade of the day up close. As you can see, the candles were moving down through the pivot line. We noticed how it bounced up after the second candle was through the pivot completely. This price then continued to move to the North side giving this trade a nice winner above the pivot line. A few hours after our trade was complete price has moved 20 pips past the purple line of 1.30. This makes our original entry even stronger. Sticking with the current trend was a major factor in the decision today.
Extended Move on the Pivot Level

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