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Monday Binary Trade at Higher Lows

We witnessed over two hours of consolidation on the EURUSD with a range of only 10 to 15 pips. This made trading a bit typical, but still a trade set up was available for us and turned out to be a winner. One of the things we’ve talked about in the past are how higher lows can come in to play for picking a direction. In this case, we saw four higher lows to the north side.

For the last six hours we watched price move up and came back down in a continuous pattern. It wasn’t until price consolidated for over an hour where we decided to take a call option. This call option was at the lows of the consolidation area. We watched price go in our favor by almost 5 pips before coming back down to a near break even trade. In the end, price did what we thought and closed out as a winner by one pip. These types of trades are not the easiest for new traders or new chartists. It takes time to learn these setups, but it helps when you’re trying to find a good trade in a congested market.

The image below shares the higher lows throughout the morning that we discussed in the video. You can see how price was steadily rising from the 10:00 server time all the way until 16:40. This is where price decided to consolidate before we took our trade. You can see how price came up to pivot really quick. These types of trades makes it nice to have both a 24option platform on your side and a TradeRush, binary platform. It gives you multiple options for entries and allows you to take quicker trades when needed.
The Higher Lows Came Into Play
We still have a couple things in place today and the rest of the week. Our purple line that we’ve been talking about the past few months is still at 1.2750 and will continue to be in action this week. If price moves through the pivot the resistance area of this purple line will be the first area to think about at trade setup. You may also see resistance one come in to play soon after. There should be several trade setups the rest of the week and we will continue to watch them and try to help define them.

Binary options trading can be difficult if you are unaware of the price action that is in front you. We will continue to go over charts and trade setups to help you understand what to look for in your trading.
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