June 7, 2013 One event that many traders look forward to each month is the nonfarm payrolls (NFP). In short, it’s a statistical report over the current state of the labor market in the United States regarding the number of jobs that were added (or lost) over the course of the previous month, excluding farm […]
I traded the EUR/USD from around 2AM-7:30AM EST on Thursday and found five set-ups to trade. The first trade I took occurred on the 2:15 candle where I was looking at a call option on a retrace back to a previous resistance area. For about one hour, price had been consolidating around the 1.31046 price […]
I took five binary trades today with good results, winning four of the five. I had actually been watching the market for over two hours before I took my first trade but nothing had really set up to my liking by that point. I did have a 38.2% Fibonacci retracement level in play today, but […]
June 1, 2013 I started watched the EUR/USD from around 1AM-5AM EST and found nothing worth trading. The trade I really wanted was a put option at the touch of the 61.8% Fibonacci retracement level on the 2:45 candle. Unfortunately, it came 3/10th’s of a pip short of touching the Fib level, so I never […]
May 31, 2013 I had been watching the EUR/USD market off and on for nearly six hours before I finally took a set-up I felt would be worth taking. The EUR/USD had been pretty lifeless the entire morning and based on the image you can see that there really wasn’t a whole lot going in […]
May 30, 2013 Fibonacci levels are something that I pay special attention to in trading both forex and binary options. Essentially all charting software packages allow you to manually plot Fibonacci levels on a chart, usually by drawing them from the low point to the high point of a recent trend in the given asset. […]
May 28, 2013 Finding a price level that continuously holds over and over again can be very profitable. It comes up fairly rarely, but occasionally you will find a level in the market that holds every time and tends to consolidate along that price level for extended periods of time yet never quite breaks through […]
May 27, 2013 Hello, everyone. It’s been quite a while since I last posted here to my blog. Rest assured, I’m still trading, but I’ve shifted almost all of my focus to swing trading spot forex recently, mainly focusing on the four-hour and daily timeframes. It’s been much less time intensive so it blends well with my […]
January 12, 2013 These are two trades that I took in the early morning on November 28, 2012. (My previous post, dated December 30, 2012, explained a trade I took the afternoon of that same day.) My first trade occurred at 3:50AM EST and is denoted by the red arrow, showing that I took a […]
Today I’m going to share the thinking behind a trade I made back on November 28, 2012. When trading short-term binaries (i.e., 10- or 15-minute expiries), I usually trade the European session, which begins at 3AM EST and occasionally some of the New York session (begins at 9:30AM EST). However, I took this trade at […]