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Tight Binary Winner

Unlike yesterday’s trade of the day, this one was a fight to the finish. Although it was a tiny winner today, the idea of taking a call option at this level worked out really well. We were using the momentum to the North Side that was brewing on the Euro and took a call option near the pivot level. Price action had recently climbed through the whole number of 1.2900. It had climbed back down over 20 pips to the pivot and this is where we started looking for our trade. The first attempt on the pivot line was definitely the best trade. Price had bounced up perfectly right after forming a nice 5 minute wick candle. Fortunately for us, price came back down to the pivot giving us our entry at 24option. In the end, if you have winner that’s what it’s all about. However, were correct on the direction after the fact as well.

As price was coming down we entered a call option with about 10 minutes to go. Price was in our favor for a good 4 minutes soon after entry. Then over the next 4 minutes price moved against us. Although we had the right idea at this particular time, price wasn’t ready to make its move up. We were lucky to see the price move in our direction in the final minute. With about 1 second to go price finished 1/10 of a pip in our favor. The good news is, price continued to rise after our trade was over, making new highs for the day. Even though we’re binary options traders, it’s nice knowing that you had the right side of the market when the big moves happen. This also helps if you do decide to become a Forex trader. Price is now coming down to the whole number of 1.2900 and it could be another interesting area to take the call option.

The image below shows the price action that occurred on a 5 minute chart throughout the night. You can see how price was hanging at support level one, which gave a lot of people some good trade setups. Price steadily climbed from this area up over 50 pips. Although it didn’t climb extremely fast, it did give a couple of setups throughout the morning. Price eventually had a jumper candle that blew through the pivot and the whole number of 1.2900. This is when we started looking for our call option trade just before the US markets opened up. Fortunately for us, we got a good fill because we only had a 1/10 of a pip winner. You can see in the image how price was making new highs after the trade was over.
Call Option Trade
The markets continue to show price action in a range between 1.2800 and 1.3200. As soon as it breaks one of these levels we could see some new price action. 1.2700 will be an area that may have significant support and plenty of call options to be traded. Make sure you keep an eye on all levels going forward and be patient with all your trades. If you have any questions about binary options trading please ask in the comments section below.
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