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Trading on Hump Day

After a long night of working on the new web design for binaryoptiontrading.com, we finally got around to taking a trade this morning around 11:00. It definitely took a while to find a good set up to trade. Although there were a couple of setups that occurred throughout the morning it wasn’t as clear cut as it’s been the rest the week. We were trying to find a trade that suit our needs, but also allowed us a good entry point so we wouldn’t have to much pain potential. Today, we were able to launch the new design and take a trade.

The EURUSD popped through 1.31 whole number last night and stayed above it for a couple of hours. It eventually dropped right back through that level all the way down to the pivot line. This pivot line is located at 1.30621. It’s also an area where we traded yesterday that had success. Prices came down to this area mid-morning before bouncing back up and consolidated between the pivot level and resistance one area. Eventually price started so move back up to the midpoint between the pivot and resistance. This is where we took our put option thinking the price will come back down to the pivot. Sure enough the price did come down to the pivot, but not until after our trade was complete. Price did move in our favor for a while, but in the end it only closed 1/10th of a Pip in our direction. Although we will take this trade and book it; this wasn’t exactly how we expected it to go.

The image below shows our entry on a EURUSD 5 minute chart. This chart shows how price was moving up from the pivot level once again after a wick was formed. Price reached an area that had been another area of resistance. We then decided to take our put option where the green arrow is located. Price moved against us for a couple of one minute candles before moving in our direction. It wasn’t until the last minute in which price was challenging our entry point. In the end, we were fortunate to get the fill we got.
Finding Good Setups was Tough
As you can see in the chart, the drop off did occur and moved through the pivot line. It has since consolidated around this level and it will most likely stay here for the rest the day. After the long night and long trading morning we’ll most likely not take any afternoon trades.

The new design is up and running right now and it has a lot of work to go. We hope it helps you navigate through the site a little bit easier for the main points and find some things that you might not have read about yet. You have access to all the information you need as a trader, whether you’re just getting started or you’ve been around. We’ll continue to grow the site, adding content continuously and hopefully grow the community much bigger. If you have any questions about the new design or have any information that may help us please let us know in the contact form.
Risk Disclaimer

Comments

  1. Paul Mullen says

    Hi Rich, great looking website so far only managed a brief look and caught your trade of the day which is always part of my day, close call for you but a win is a win. I’m still learning the craft, been a follower for 6 mths now but keep up the good work, it’s all appreciated, will be in touch regards Paul

    • Paul,

      Thanks for hanging with me for 6 months. Hopefully things have been getting better and stronger. Keep things rolling and stay positive no matter what happens.

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