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Monday Trading

This trade was found just before the US markets opened. We started looking for a trade just before nine o’clock this morning. Although we were considering a long Forex trade around 8:30 AM we did not take it. Price action did move up nearly 50 pips from the whole number 1.300 all the way back up to the pivot level. It wasn’t until just before the US markets opened up when we took our call option trade at the purple 1.3042.

As price was consolidating just above this purple line, we waited for the price to get closer to this level. As soon as it reached an area where we liked, we entered our call option. Price moved in our favor right out of the gate and eventually pulled back against us for several minutes. It wasn’t until the end when it moved up 3 pips in our favor giving us a nice winner for this Monday at Traderush. Price action has been consolidating ever since our traders closed out and we were pretty excited about this trade to finish up in the green.

In the image below you can see the price action coming up from the whole number of 1.300. Notice how prior to that, price formed a nice stair stepping pattern down, making new lows throughout the morning. As price moved up to the pivot level we started looking for put options: with the current trend. It wasn’t until price broke through the pivot level where we started looking for our trade. Price eventually came back down to our favorite purple line of 1.3042. That’s where we took our call option trade. We did have a slight bit of pain in the trade, but by the end it was in our favor giving us a nice winner for this Monday July 15, 2013.
Purple Line in Play
When trading on the binary options market you need to consider all possible factors. You need a few catalysts working in your favor before entering a trade and that will help you make better decisions going forward. If you consider all the trading that can be done in one single day, try to find the best trades within those as possible. This will save you a lot of time and money going forward.

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