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Trading Regulations and the Trade of the Day

We got off to a fast start on this trade of the day. Although a nice trade set up was at the pivot level today, we were unable to take this particular call option. It wasn’t until about 40 minutes later where we took our put option on the EURUSD. This trade was set up for us on an extended move past resistance one. We noticed how price was climbing up after recent drop off. Although price action has been up to the north side, we still felt comfortable with a put option around this level. We took this trade at Traderush which will play an important role in the binary options market going forward. We’ll discuss more about the binary options regulations below.

As price was climbing up from the pivot level and extending to resistance one, are put option was placed. We got an excellent fill at Traderush and price dropped off over the course of the 5 minutes that we were in this trade. Price had moved down nearly 20 pips in the end after our expiry was over making this trade a great set up. Although we were looking for call options at the beginning of the day, it was hard to pass this one up with most recent resistance in play. The more resistance you have the better.

In the image below you can see the green arrow pointing down in the direction of our trade. We actually got in at the top of the candle that the arrow is located on. Notice how price pushed down in our favor, giving us the nice five pip winner in 5 minutes. You can also see how price then climbed back up to this highest point before finally breaking out to the North side. We did expect the price action to break the highs of the day, knowing that the US markets were down significantly. Price challenged the 1.3300 level and retreated quite quickly. This is a tough area to get through and once it eventually gets through this strong area it will become a strong support level. We will continue taking these binary trades and also take Forex trades as well.
Nice South Side Move
Binary Options Regulations
There is a lot of speculation of the jurisdiction and regulations of the binary options markets lately. Still in a gray area, it is been said that 24option will be pulling out of the US market. Although this is our favorite broker to trade with, we still feel comfortable in the other brokers available such as Traderush and Stockpair. Assuming they stay in the US market for some time, there will be plenty of binary options trades going forward. Hopefully over time regulations will set in and we won’t have to deal with this. We highly recommend you check your jurisdiction laws and keep your risk in check. Try not to put any more money than you have to put in to make your trading a success. This will allow you to have less money at these brokers, but also allow you to take the best trades possible. If you have any questions about these matters, please contact the broker themselves and hopefully you can get a solid answer from them. We will be back trading tomorrow for the trade of the day. Be on the lookout and stay positive with your trading.
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