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We had noticed the euro and the pound getting demolished overnight. Specifically, the euro had dropped over 100 pips since midnight. This made us only want to trade put options on retracements and only look at call options after the trend has been changed a bit.

We got in to the trade about 10 min. before the expiration time and never saw an ounce of pain on this particular trade. Within a minute or so we saw a move down of about 4 to 5 pips given us a green light for almost the rest the trade. We watched how the price started to consolidate in our green area which means in the money and never looked back.

After this hundred Pip move there hasn’t been a retracement of more than 21.8 on the Fibonacci so for this trade we were looking at resistance from previous candlesticks. The area we got in was based on the resistance formed a couple hours prior to entering this trade. In the video you can see on the 5 min. chart, the consolidation area where the price had moved up to. Sometimes you need to create your own methods to finding these resistance and support areas.

We are still confident in our trading techniques and look forward to more in the future. If you have any questions or comments please leave them below and will be more than happy to help you. Have a great trading day and see tomorrow for the trade the day.

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