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Trading Post Labor Day

After a long weekend we were able to get things going in the right direction on Tuesday, September 4, 2012. Price action is still weak based on summer trading and post holiday blues. If you’re in the United States you understand that it’s quite possible for slow going activity after a holiday weekend. We were only looking for solid setups to take our binary option trade today. This particular trade worked out in favor, but wasn’t as beautiful as we would’ve liked. Take what you can get sometimes.

Price had moved up through the evening and into the night on Sunday and then over the course of several hours dropped off passed support level one. This is when we started looking for our trade and price action was still a bit weak. Price was up to a certain area of resistance where we looked for our put option trade. Price immediately went in our direction at Trade Rush giving us a nice start to our trade. Over the course of the 10 minutes we were in this trade price moved against us several times.

We did notice price consolidate a bit and didn’t have the fluidity that we’ve seen in past during stronger market conditions. Near the end of this trade we were just hoping for a winner. At the close, price was in our favor and ended up being a winner by less than a pip. During slow times you try to seek out the best rates available.

The image below shows a trade that occurred about 20 minutes after our trade finished. Although we did not take this particular trade because of time constraints and other business matters it was set up perfectly. Mentioned in the video, we talked about price moving back up to pivot level or support level two. As you can see price moved through pivot perfectly around 10:00am and fell perfectly over 20 pips in the direction we took. This gave anyone who took this trade a solid winner and without any pain.
Post Holiday Pivot Trade
To find this trade on a slow moving market the week after Labor Day is always nice. If you find one or two solid setups a day in this type of market you are working hard and smart. It’s best not to sit around and try to trade this market while price action is really slow and not comforting as well.

We also did a write-up on Mobile Binary Trading. This is something people want to be able to do more and more.
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