August 7, 2014 The GBP/JPY had a big spike up ahead of the European open before once again re-settling below the pivot level of 172.305. Just ahead of the 3AM (EST) hour, price began consolidating into its own channel and by 3:10, a distinct level of support had been created along 172.21. Recently in my […]
August 6, 2014 One of the nice things about pivot points that are spaced far apart is that the market will tend to be sensitive to them to a greater degree. When there is no other obvious immediate intraday level for price to hang on, it makes reaching a pivot point a rather notable event, […]
August 6, 2014 In trading, you can often become your own worst obstacle by usually the following three things: 1. Forcing trades and taking trades that aren’t there. 2. Trading too frequently and only semi-decent set-ups that don’t fulfill the criteria of factors you have set for yourself. 3. Investing too much money on any […]
August 5, 2014 It’s a common theme in my blog to emphasize the importance of avoiding trades around news time. My recommendation is to avoid trading it completely, especially in the context of simple short-term up-down binary options. At many brokers, you may not even be able to get into a trade in the first […]
August 3, 2014 Last Friday’s trading of the EUR/USD didn’t amount to much in the way of trading opportunities setting up at pivot points. Naturally, when the gap between them is large, it carries with it the reality that set-ups along them will be in less abundance. Daily pivot points are truly a favorite method […]
1. The first trading opportunity I encountered was not as easy when it came to making a cut-and-dried decision about if and when to get into the trade. The market broke down below the pivot level during the 2AM (EST) hour, and tested and rejected the level at the onset of the 3AM hour before […]
A bit of a unique set-up occurred when I first began trading, in that it’s not one that comes up frequently. Starting on the 2:10(AM EST) candle, a series of consecutive wicks occurred on each five-minute candle, showing an inability to break this particular price level before the daily pivot. Before the end of the […]
July 28, 2014 The benefits of having a tightly constricted set of pivot points is that the market may provide several areas of congestion. When they are close together, it may take only a few five-minute candlesticks before the next one is met. It really can make for an exciting and active trading session, as […]
July 28, 2014 When I post articles discussing a day’s trading results, I have no issue going through and explaining losing trades. One reader actually expressed gratitude that I also discuss the trades that I lose. At first I thought it was a bit strange, given losing trades is simply part of the game and […]
July 26, 2014 Trading when the news is released as a binary options trader can be risky. In forex trading, managing risk is relatively simple in that you can adjust your stop-loss to a given pip value and if you’re wrong and your stop is hit then you’re out just a little bit. If you […]