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Several Nice Binary Options Setups Today

We’ve been watching several price action trades, not only today, but throughout the week. These trades were set up based on support, resistance, pivot and our purple line of 1.2750. All these areas created several trade options for you throughout the week. We mentioned in today’s video how the lines aren’t necessarily entry points every time price hits. However, when used in conjunction with other catalysts these lines can be very profitable over time and the patient traders who wait for the best setups will make the money in binary options.

Today’s trade was based on price action coming down from the purple line of 1.2750. Price had created a low which we did not take and then continued for an extended low. This was available for us to take a call option. This occurred at support level one which became a nice area for a bounce. Price went against us by only a pip before moving up, closing five pips in our favor. This type of trade was based on the extended move from the previous low which is always something we look for as a catalyst with our lines. Remember, having certain trade setups are great when you have more than one thing working for you at that particular time.

The image below shows a couple of trades that occurred an hour or two prior to our entry. Had you been trading early this morning these trades would’ve been perfect setups using the purple line of 1.2750. This area has become a nice battleground for support and resistance. You can use this all next week as well until price is broken out from this level. You can see how price moves up from support level one to this area of resistance. It only poked its head through a little bit before pushing down, giving a nice solid winner for a put option. You could have traded this at any of the binary options brokers and still had a nice winner.
The Purple Line Shows Up Again
Yesterday we mentioned a trade that occurred during the afternoon. Price had moved up to the whole number of 1.2800. This trade was a perfect trade set up for a put option knowing the whole number could hold in the middle of the afternoon. When these types of extended moves occur late in the day it makes you want to jump on a trade. Usually later afternoon also carries weakness on big moves. We did not take the trade ourselves, but the price action dictated that we talk about it today. Price has come off that level over 80 pips since yesterday afternoon and is continuing to fall as I write this post. This area will most likely come into play again if we continue to see this type of price action. Trading areas like this as spot Forex traders will allow you to get the potential home run.
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