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Find this Winner

We got off to an early start this morning on the binary options market. Over the last 24 hours we watched the EURUSD drop over 200 pips. This of course led to some nice trade setups on both the Forex and binary market. News came out mid-day yesterday surrounding the stimulus package in the US. The stock market did not like the news, but the dollar rallied against all currency pairs. The dollar was Rallying throughout the course the night and into this morning. We watched price hit the lows of 1.32000 and this is what allowed us to find a nice set up at stockpair. Ideally we would’ve taken put options today, but there was nothing available at the time we were trading. Although we were waiting patiently, the whole number reversal trade was the one for us.

As price was starting to consolidate around the whole number of 1.3200, we decided to look for a call option on a move that followed through just prior. Price came down to the whole number and this is where we entered our trade at Stockpair. Price went against us for a couple of minutes, before moving up significantly, giving us a nice 13 pip winner today. Price action has been consolidating all morning since the original drop-off from the whole number 1.3400. A lot of Forex traders that took advantage of that move, made a lot of money and some of them might still be in the trade right now. As we write this blog post, price is continuing to drop to support level three and should be interesting to see what happens going forward.

In the image below, you can see price was falling down from the high 1.32’s all the way down to the whole number 1.32000. You can see our green arrow for the entry. We were watching higher lows developand this is what made us take the whole number trade to the north side. We caught that one significant north side candle that gave us the nice 13 pip winner. Although price has dropped since our entry, it doesn’t matter as a binary options trader. We called the trade correct with a 10 min. expiry. If we were to take more trades today, it will most likely be put options or at least until we see a reversal in the markets. It appears news came out around 10 o’clock which is causing significant drops in the US stock market.

Took a reversal at the Whole number
We do have an announcement for next week. There will be no trading live on the video. Be sure to stay responsible with your trading and only take the best setups possible. You can still be active on the channel and we’ll do our best to respond. we’ll have access to e-mail and the channel, so stay involved and we’ll be back the following week to continue what we’ve been doing this whole time. If you haven’t questions you can always ask.
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