Start Trading Binaries with the FREE Binary Options Robot - CLICK HERE

Pivot Trades are a lot of Fun

We were fortunate to have a pivot level trade set up this morning. Price action had been hanging below the pivot near support level two, which is also the 1.3642 purple line. We’ve been talking about this area for quite some time and although we’ve been staying in a tight range, we knew it had to make a pretty big move for us to take a trade. Around 8:30 this morning, price jumped up from the 1.3642 all the way to the pivot point. It did not get up there on a five-minute candle, but rather, it climbed over the course of an hour. This is when we started to look for our trade, which appears to be the trade of the day several hours later.

Price action hit the pivot level just after nine o’clock this morning. We decided to take our put option just below the pivot level looking for a move down. We knew that price action had been weak for the day and that the reversal was not yet ready to occur. We were confident in the put option at the pivot, knowing the price action would have to pull back after the significant move it just made. Price did move in our favor soon after entry and we had a winning trade without any pain. Painless trades make the day a lot easier and it will allow us to look for better trades in the future. Hopefully some of you caught this trade or got in at even a better level. No matter which binary broker you are using you had plenty of time to get in this on a five-minute or even a 30 minute trade.

In the chart below you can see how price action climbed up from support level two. Notice the purple line is the 1.3642 area. With a big jumper candle of overt 20 pips, we were watching what price action would do if it reached the pivot. You can see our green arrow for entry-level and notice what happened after that. Price action dropped off pretty heavily, almost halfway of the initial big move. It did stall out at support level one and continues to stall out even a couple hours later. It appears that price action will be hanging just below the pivot level for the rest of the day or it could decide to make even bigger moves. We are expecting a bigger day tomorrow, but as binary options traders we will wait to see what happens first. If you took a Forex trade at the pivot level you are looking pretty good as well. Price action is still moving in your favor. This area could also become a good call option spot if price action starts to stall out. Don’t try to force a trade unless you feel very comfortable with the setup. Remember, the current trend is south.
Found a Good Pivot Point Trade
We are going to continue trading these types of trades on the EURUSD. We’ve mentioned looking at other currencies, but for now, we are sticking with what’s working. If you have any questions about other currency pairs you can ask in the comments below or on the YouTube channel. There are plenty of trade setups out there for all kinds, whether it stocks, commodities, or currencies. You just have to find a comfortable level that you want to trade and continue to manage your risk.
Risk Disclaimer

Speak Your Mind