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By: Adam Stone
June 2nd 2014 5:34am GMT, London UK

As we discussed last week, US equities are on an elevator ride heading higher in a slow creep to new record levels. What this means for binary options is simple: profits to be had. The S&P broke upwards again this past Friday and could do more of the same on this news light Monday trading session. The index headed upwards to 1923 after rising 0.18% on the day in a very choppy and volatile session. It’s rare that we have such days for the index, but binary options traders should have known better than to fret over it. The fact is, the S&P index, in the last 18 months, has only had 4 false breaks and over 84 successful breaks. As such, traders using these moves to trade off of, should realize that the stats are on their side and take the direction of the break each time. After all 84:4 odds are better than you can get virtually anywhere. As such, Friday, we did expressly that when the index opened and started climbing.

However, this wasn’t easy to watch as the index started the session early in the red and only later climbed back out. We recommended taking an Up option early on and we found that the market could deliver. However, around mid-session, the market headed back down making the roller-coaster ride just that much more gut wrenching. It was all to end positively though and the market pushed higher right in the last 1.5 hours and secured our trade in the profit zone. It’s all we can ask for when trading indices like the S&P.

For the day ahead, there’s a dearth of news to report on and as such, binary options traders will surely keep their focus on the charts. The S&P, our perennial favorite might not open strong today however, if the 1924-1926 band of resistance is broken, taking yet another Up option looks rather favorable. However, make sure that the RSI is still pointing upwards. Its actual position is of less concern in this case as compared to the direction of the momentum, So long as heading higher and at a higher level than the previous peaks and you are looking at a high potential and low risk trade which is just the way we like it.

For forex traders, the USD/JPY looks like an interesting choice to follow for the day. The forex pair is now trading near 102.01 and the range over the last 12 hours is between 101.98 and 102.06. This is obviously an incredibly tight range but more importantly, it’s not likely to last. Binary options traders will do well to stick to the general uptrend we’ve seen from the forex pair over the last 2-3 trading sessions as it looks unlikely that the a sudden correction will come upon us. While the forex pair is capped to the upside, this resistance is much further along (above 103) and should pose no threat to those taking up options on the break above 102.06. Binary traders will probably avoid reversal strategies in this case due to the range and risk level.

USDJPY with binary options 2-6-2014

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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