Start Trading Binaries with the FREE Binary Options Robot - CLICK HERE

Winning Trades Based on PullBacks

After a scary day yesterday it can sometimes be tough to get back in the groove. Here at binaryoptiontrading.com we like to focus on the positives. By doing this, we will focus on a binary trading and taking good setups on the markets. The US markets are bouncing back pretty strong today after yesterday’s huge selloff. Price on the Dow Jones dropped over 250 points and gold was off by over $100. Any time you see this type of price action in the markets, there is definitely a changing of the way people are trading. Yes, most likely profits were being taken, but at the same time, you need to consider this a wake-up call if you’re in the long-term upside move. As binary option traders we don’t necessarily worry about this so much, but it’s important to keep in mind when taking trades.

We mentioned last night on Twitter about the 1.3042 purple line coming into play once again. Price had come down to this area and bounced off pretty strong soon after. Price has since climbed to the North Side over 100 pips. This allowed us to start looking for call options on the EURUSD.

Watching price almost hit resistance three and then move back down, we started looking for our call option at Traderush. We watched how price was falling off for the past 30 minutes before consolidating near resistance two. This price started hitting an area in which support was forming. Price moved down in this direction and bounced up almost immediately from this level. We did have a little bit of pain at the beginning, but by the end price moved up in our favor. We closed out a winning trade for four pips and felt really good going with the trend in the current market conditions.

In the image below, you can see how price had climbed from the 1.3042 level. This was just below the pivot level and climbed over 100 pips near resistance three. As price climbed in a stair stepping formation there were several call option potential trades along the way. As price hit the resistance three area it then pulled down all the way to resistance two. Price has consolidated a couple of candlesticks at resistance two and is now trying to reach new highs for the day. US markets are opening a really strong and continue to hold at this moment. We will look for call options later and at resistance two and resistance three as an extended move area. Keep in mind, that you’re better off sticking with the trend in taking good setups on a day like this.
Looking for a big move off of 1.3042
We continue to work on the site, making updates, and modifications. If you have any questions about what we are trying to do, please let us know. There will be plenty of trades to occur all this week, but remember we are facing a weird situation based on a terror event, so this could cause some whipsaw action throughout the day. Make sure you are aware of what is going on in the news while taking your trades.
Risk Disclaimer

Speak Your Mind

*