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Getting Back to Business on the Binary Options Market

After a long week of office construction, it was nice to get back to trading. All last week we had contractors in the office making adjustments. Unfortunately, we were unable to take our normal trades and provide our normal videos. We did however manage to make a couple of videos with some excellent trades. Nonetheless it’s nice to get back to normal, looking for the best trades possible on the binary options market. All this week we will have trades that will hopefully show excellent price action and give us nice winners.

Today’s price action got us off to a decent start for the week and the beginning of June. We noticed how price climbed to our favorite number of 1.3042 last night before dropping all the way back down to the pivot level. Price came down to the lows of the day and this is where we started looking for our call option. Price was reaching the area of support level one and decided to take the call option at a recent trade area. The price filled us with a decent entry and moved up in our direction, giving us a one pip winner. Although we were seeking as many pips as possible in our favor, due to the short time period, we would take any amount of positive movement. These are the types of trades where small moves are just fine when looking for a winner and not so much for the breakout mover. On a longer time level this may not have been the best entry.

The image below shows the price action that occurred over the course of the night and through this morning. You can see a thumbs down arrow, which shows the price action at the 1.3042 number. Price came up to this level on the 5 minute chart and dropped off in its normal fashion. We talk about price getting away from this area and allowing it to become significant again after some time away. You can see our price entry on the green arrow pointing up. Although it looks a little shaky, you can see we got in at the bottom of the red candle and it closed at the top of the green candle right after that. This gave us a nice winter of one pip and it wasn’t until after our trade closed where price action really kicked in. You can see the high flying action a few candles later.
Bouncing near the lows
Price came down to the support one level and continued to consolidate for two candles and eventually jumped on the next five-minute candle. Over the next hour or so price moved up, reaching the whole number of 1.31000. Price has definitely made a northern move and looks to be pretty strong going forward. Keep an eye out on your price levels and take the best trades, trying to stick with the trend. We almost hit resistance three and will most likely do that at some point today.

although we talked about the 1.3042 area earlier, it is important to watch price around this level in other levels that may show significant support and resistance. This will allow you to find great setups and create several catalysts to go along with your trading. If you can find an old trading area that worked out really well, this should be an area to trade in the future. Keep an eye out for good trade setups on your 5 minute charts and set alerts for you to take the best trades. If you have any questions about binary trading of any kind you can always comment below.

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