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Getting Back in the Binary Groove

We had some time off last week and it’s good to be back trading binary options. Price action was a bit weak this morning, but we were able to find a setup that worked in our favor by a small margin. We took this trade at Traderush just before the US markets opened around 9:20am, as price was climbing up from some recent lows. We saw price get above the pivot level. We entered our put option, looking for a move to go down to the short side. Although we got in this trade during the middle of the expiry. We were able to get a winner in the last minute/second.

Price action was showing softness all morning and finding a good trade set up was not that easy. Price had hit our favorite number of 1.3042 and started the day yesterday at the whole number of 1.3000. This price range is pretty narrow and finding a good set up hasn’t been easy in both the Forex and binary markets. Our trade was exposed on the extended move past the pivot level. We entered our trade at Traderush and watched the price fluctuate between one and two pips. On the final candle it closed out by 1/10 of a PIP in our favor, giving us a winner after a long week off of trading. Although this wasn’t a huge winner it’s a trade we’ll take after some time off.

Price has since dropped off from the pivot level, making new lows for the most recent trading hours. The US markets were opening up on the green side and although the EURUSD has not moved very much it is obviously being affected by what’s happening in the US. Price should consolidate all week due to the holiday on Thursday. There will be no trading videos on that particular day, but for the rest the week we should be back to normal.

In the image below you can see how price had jumped off to the north side getting above the 1.3042 level. And once it reached its highs for the day, it steadily dropped off all way through the pivot level. Although the market might seem to be on the north side trend, anything can happen on a day like this. Be ready to take both calls, puts and long and short trades if your trading Forex. We do like setups at the whole number and near the highs of the day. You can see the green arrow on the chart. This is where we entered our put option. Notice how it climbed up nicely and then dropped off on the next particular candle. Since the close of our trade, price has dropped off even further, nearly 15 pips. If these prices come into play we could take more trades today or just wait until tomorrow. This way we won’t get whipped out of a trade that wasn’t really there.
Slow Moving Markets
It was a good week to reflect on what is happening in the markets. By getting away for a little while, we are able to come back and see the markets a little bit more clear. Sometimes it takes you a while to adjust to the market conditions. The more time away will allow you to be more patient with your trading and not try to force yourself to make mistakes. We will continue trading this week and if you have any questions you can always ask us.

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