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Monday Binary Trading

We were watching flat markets all morning waiting for an ideal setup. Finally, this trade came to us on a pullback from the most recent whole number. We started to look at put options near the whole number of 1.3000. Price immediately dropped off to the most recent area of support a 1.29960. We went from trading a put option to taking a call option at 24 option. Sometimes when you’re looking at one direction it’s the other direction that comes in the play for a better set up. You always have to be on your toes. This is why we took our call option and price worked out really well in our direction.

As price was rising from the lows of the day, we started looking for calls and puts. Price had just recently hit the whole number of 1.3000 before pulling back down to most recent channel hold. This area became a nice area of support and allowed us to take a call option to the North Side. We saw about 2 minutes of price going against us, before a nice jumper Candle took it back up to the north side. Price jumped through the 1.3000 whole number and consolidated just above that area. This trade ended up being a six pip winner and it took a lot of patience for the trade to be set up.

Something to consider in the future when there is a nonfarm payroll like Friday. You can view our most recent trade here. Usually markets move and get really extended on a big news event. What usually happens is, price will tend to consolidate the following trading day. In this case, price has formed a pretty tight range below the pivot line. So we were going to look for only good setups and play it patiently. If you force trades on slow days you will lose a lot more often.

In the chart below you can see price was rising up to the 1.3000 level. Price then came back down to the purple line that we took our trade. You can see the green arrow which shows the trade we took. Notice how the next two candles went against us. However, in a fast manner price then started to climb back up in our direction giving us that nice winner. Price has since climbed a little bit more in continues to climb getting back near the pivot area. Price is not moving in extreme numbers, so make sure you’re only taking the best setups going forward today.

Call Option in Range Market

Risk Disclaimer

Comments

  1. Hello Rich,

    Are you going to make the webinars that you was talking about on the others videos, just wonder, will be nice to learn more from you. I just hope you do the webninars 🙂

    Thank you!
    Veronica

    • I plan on having one. I just have to find the time. Hopefully by April I’ll do an open forum type of webinar.

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