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Thanksgiving Binary Options Trading

Today’s trade was based on price action moving up from the lows of the day at support level three. We watched price come up from this level after last night’s significant move down. What we were seeing was price being reversed from the lows of the day. Anytime you see price move one direction, and then come back into itself, makes trading pretty interesting for that particular day. Had this been a normal day and not a holiday price probably would’ve continued to the north side through resistance one and higher. Being Pre-Holiday trading of the Thanksgiving weekend, price should sit around the pivot for the rest of the day. Keep an eye on the price and see what happens.

Our entry was a secondary move to resistance one. Price had moved up to resistance one giving a sweet entry for a put option, however price had already been expired for that particular expiration and was not available for us to trade. Had this happened a couple minutes prior to this particular time we would’ve traded this as our trade of the day today. In any case, we took a secondary move up to this level with a put option at price. Price moved against us immediately after entry before finishing up in favor in the last couple of minutes. For binary option traders this is one of the things you look for on a holiday trade. Significant moves in one direction or the other don’t really happen too often during this holiday time. In this case we were able to take the trade knowing that price shouldn’t move much higher for the rest of the day. Price has not come back up to the area of entry making our put option a nice trade.

The image below shows the trade we took on the EURUSD. The put option was taken around resistance one and as you can see price fell off soon after entry. You could see the arrow pointing down which was our entry. Price moved against us by a little bit before moving down in the direction we were seeking. We expect price to move even further down for the rest of the day. There is no real trend so any trade was available on this particular trading day. You could trade put or call options and not worry so much about trend trading. Sometimes the pivot will let you know what to do.
Trading before Thanksgiving
We will continue our videos and blog Post next week after this Thanksgiving weekend is complete. Keep an eye out for more solid trades from binaryoptiontrading.com. We hope you have a great holiday.
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