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Perfect Trade Going

After a great week of trading it was nice to see a trade really work in our favor. At around 8:30am we noticed the price moving to support level one on the pivot. We decided to let the price consolidate for a couple of candles. We then entered our trade, which was a call option to the north side and we watched the trade successfully move up without any pain. For about a week now we were trading very thin market conditions. What I mean by this is, we weren’t seeing the moves we had seen in previous weeks. Most of the trades this week have been 1 to 3 pip winners and it was good to see a trade really work in our favor.

Trading in the binary options market can be a bit tough. If you were to seek trades like this every day you would be much better off than trying to guess the markets and risking your money. Not every trade will work out at a support level, but if you will notice how the price moves around the support and resistance levels you will start to understand how powerful they really are. Over time, from watching charts and price action you will learn whether a trade is a decent set up not. Any trader looking at the chart today at this particular time should have jumped on this call option around 8:30 AM Eastern Standard Time. I wouldn’t call it a no-brainer, but it was definitely a trade you could throw some risk at. 24option.com gave us a nice entry but for some reason the price chart was not working while we are in the trade. You will see on the video that the price doesn’t even move within the chart but if you look to the left you will see how the price actually moved. We do share the meta-trader chart so you will see how the price actually moved during this particular trade.

The image below shows the trade set up and how the price came down slowly over the past hour. You can see how the one candle hit support and actually popped through it about a half a PIP and eventually just shot up and gave us our 11 PIP winner. Within 30 minutes, the price has recently jumped up over 50 pips from that support level. This gives any Forex trader or longer-term trader a great entry as well as a binary options trader. Had you entered your trade on the spot market and moved your stop loss to entry you would still be in this trade making a decent Friday for yourself. These are the types of charts you should document for yourself and have handy to look at for future trades.

24 Option Support Trade

From looking at the charts on the meta-trader account I can also see how the pound dollar did a very similar move. It came down and touched support level one just like the euro and bounced up over 40 pips since that price hit. This shows you that these types of moves will work on multiple currencies and not just the EURUSD.

****Updated 3 hours later. Check how price came back to support one again and bounced hard.
Support Holding Hard

Risk Disclaimer

Comments

  1. Francisco says

    this was great, I got in early on this one… no pain at all ! nice post rich!

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