Type of eur usd binary options strategy
Like last Monday, I decided to trade some second type of eur usd binary options strategy. For second options posts, I do my commentary a bit differently than usual.
Due to the higher than normal volume of trades, I label each trade by number in the screenshot and describe them individually below it. When I began trading around 2: When price hit the support 1 line I decided to wait and avoid the call option set-up given the When a market is near an important Fibonacci level, it almost always tests it.
This is especially important during normal market hours i. When the market touched the Price went through a bit before the Fib level expectedly acted as a level of support and sixty seconds from my entry I had a winner. I took a put option this time looking at the 1. Three wicks had formed at the level and the trend, although pretty much a non-factor thus far, seemed to have a predilection to the downside at this point.
So I entered a put type of eur usd binary options strategy and this trade went in my favor almost the entire time, although it crept back up to an at-the-money trade by expiration i. This trade followed the same resistance level as trade 2. After a brief dip, price came back up type of eur usd binary options strategy 1.
This trade worked very similarly to the last one, going in favor most of the time before a climb back up just before expiration. But fortunately, this trade finished in-the-money by a tenth of a pip. This trade, quite simply, was a call option using the But the sellers clearly won out at this level and a morning downtrend was confirmed. Although this trade lost, at least the breach of the This certainly helped in making further trading decisions, where I had a clear bias for put options going forward.
Since the trend was down, I wanted to remain partial toward put options. However, in type of eur usd binary options strategy downtrend and price only retracing slightly above these areas, I preferred to bypass these call option set-ups. This trade used the 1. Within a downtrend, retracements back up to resistance levels become higher probability trades.
I could have taken the first touch of the level on the 3: But I was still able to get into the put option on the 3: This call option on the 4: Also note that the whole number of 1. But when it comes to daily pivot points, the market has a strong tendency to show some reactivity to these since so many buy and sell orders revolve around pivot points. This trade ended up a winner. I at least expected there to be another touch of support 2 and perhaps even a move below it if the downtrend was going to sustain itself.
But the fact that the market stopped short of support 2 suggested to me that a move back up was likely. This was especially true given that an extremely weak retracement had just occurred right before the re-touch of 1. So no put options were taken at type of eur usd binary options strategy. My price feed temporarily froze on that occurrence anyway. I took the put option on a touch of the resistance level that had been formed around the 1. This trade lost by a tenth of a pip.
Those type of losses might seem like morale killers, but on second trades outcomes of less than a pip are rather normal.
First of all, the support level was formed after a three-pip down move from support at 1. Even so, when that support level came back into play on the 5: So that trade never materialized. This trade was simply another call option at the touch of support 2 1. The fact that this trade failed immediately does not type of eur usd binary options strategy me as the trend was down and support 2 had already seen a touch earlier in the day. I actually wrote down on paper the flaws in this type of set-up so I can possibly avoid it should similar market scenarios arise in the future.
For beginning traders, I would always recommend trading in the direction of the ongoing trend as much as possible. Finding high-probability reversals or counter-trend opportunities can be difficult. Even many professional traders choose to never go against the trend on principle. This was a simple trend-following trade using the 1. This trade finished in-the-money.
I took a put option type of eur usd binary options strategy on the touch of support 2 1. It was my favorite set-up of the day as it went with the prevailing downtrend and was based on a strong level of resistance given it was a pivot level and had seen previous price history earlier in the day.
These are my favorite type of trade set-ups in general. Overall, this was still a profitable day. Where Do I trade?