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Happy Halloween Binary Traders

Trading on Halloween should just be like any other trading day. However, today was a bit different than most other trading days. Returning from a hurricane, Wall Street is opening up the markets after two days of closure. Price action the past couple of days has been really soft and the range has been really tight on the EURUSD. This led to hard-to-find trade areas and a lot of patience. We did notice how price action on the charts was choppy in the sense of not being completely plotted like it usually does. Hardware Datacenters across the nation have been hit by this giving poor price feeds to some charting systems. Anytime something like this happens it is best to walk away and wait for everything to come back to normal.

We did take our trade on this Halloween October 31, 2012. Price seemed to be falling back a little bit from this resistance two area into a support area developed by a couple of wicked candles. This area showed a little bit of support and that is where we entered our call option on the EURUSD. Price went against us by pip or two before pushing up giving us a clear two pip winner. We were pretty happy with the trade result, but based on the price action we are witnessing on the charts, I will not be trading anymore for the rest the day. This should be a lesson for new traders out there that technology can falter and you just need to be careful when things like this happens. It is not worth forcing trades in this environment.

The image below shares what may happen when technology is acting up. Notice how the candles are missing on this 5 minute EURUSD chart. I’ve heard several datacenters have gone down because of the hurricane in the United States. When you see blotchy paint on the charts make sure you are not seeing delayed action. It is sometimes better to just walk away and let the issues get resolved. It is hard enough to find winning trades and to have another dynamic work against you is not what you need. Be patient and things should get back to normal.

Missing Chart Items
We are looking forward to price action to improve tomorrow and will continue to trade the binary options markets with you live. Please make sure you also check out the chart set up video and website page if you haven’t done so already. This information will allow you to have the same charts as me. It will give you a clear-cut understanding of what I am looking at on a daily basis using the template and indicator. Metatrader is a pretty simple charting system and to get a better understanding of it you need to get the information downloaded. This will make things for trading binaries a lot easier going forward.
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Comments

  1. I don’t have a signal service. I think you will be fine with 24option unless you want to trade a bit smaller. I feel good about both brokers. Make sure you check out this page.
    http://www.binaryoptiontrading.com/support-and-resistance-with-pivot-indicator/

    It will get you setup on the charts.

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