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Non Farm Pay Roll Binary Trading

We had a really nice setup today on the binary options market. After watching the news event at 8:30, we knew we had to wait a little while before we entered our trade. Over the past year we’ve been talking about waiting for a good trade set up to occur after 30 to 45 minutes when a news release comes out. This allows us to remain patient and avoid any whipsaw action. Today we had the nonfarm payroll news event, which moved the EURUSD nearly 80 pips to the north side. There were definitely some happy news traders today riding this trade up for big winnings. Although it looked like the price would breakout to new highs it failed to commit to the north side anymore than the initial move. This is when we started looking for our call option at trade rush.

Price formed several nice five minute wicks near resistance one. At news time, price was hanging around the whole number of 1.3200. Price leaped up nearly 80 pips and formed five five-minute wicks which caused the price to drop all the way back down to the pivot level. This is where we started looking for our trade and took a call option. We decided to go with the current news trend in got in just above the pivot line around 1.3242. This price area has been in play all week and it seems to be having a hard time getting away from it. Within 10 minutes we are in this trade we saw price go in our favor. We ended up with a nice 13 pip winner with hardly any pain. Price continued to move in our direction after the trade was over and it should be interesting to see what happens next week based on this news event.

The image below shows a couple of things. As you can see price was consolidating around the whole number 1.3200 at 830. We did have the nonfarm payroll news event which jumped the market 80 pips. Price pulled back to the pivot level. Notice how Price formed a nice little wick at the one 1.3242. Our green arrow shows our entry point to the North Side, giving us a nice solid move up. price continued to rise to resistance one and is now making new highs for the day. There should be a challenge of the 1.3300 level, but it should break above this, reaching some new highs for the past week. If it does not do this today it will most likely happen next week. As binary options traders we’ll hold off with our trading and only take the trades that we see fit. The range we have been in all week is bound to be broken and it’s just a matter of time.
Taking Binary Options Trades Post NFP
We will continue trading all next week using our charts and brokers. If you have any questions about a particular broker or a chart set up please reach out to us on the about us page. We can then reach back to you with the proper information that you request. If you’ve had hard time with your trading be sure to go back to a demo account. This will allow you to take good trade setups, without losing any money. We hope you all have a great weekend and we will talk to you next week.

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