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BINARY OPTIONS ON THE NIKKEI

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By: Adam Stone
July 8th 2014 4:44am GMT, London UK
 

Corrections all over the trading world have set in motion a series of events that binary options traders may need some time to truly decipher. After all, just this past Thursday, optimism was seemingly everywhere, across all markets, and continents. So what has changed in this brief period of time? The short answer is actually ‘not much’. To oversimplify it purposefully, the world order has not changed and all is actually looking well for the uptrend of the major US indices. But what about everything else out there? Does it all have a similar outlooks? We take a closer look:

When looking solely at the US based indices, sure, this singular correction yesterday where the index dropped 0.39% to 1977 still leaves the uptrend firmly intact. In fact, the correction is actually coming at a good time as it wasn’t a deep correction. It does come with some question however, but nonetheless the overall idea of a correction at this time, when we are still so close to the 2000 level leaves most world markets looking up.

Take for example the NIKKEI, Japan’s major stock index, which today dropped as well in a seemingly shallow correction. The index fell 0.15% to 15356. The level isn’t very significant at first glance but it does put in focus the strong support level at 15000 which looks to hold up against the attacks on it in the last 24 hours. Reversal strategies should work very well with up options anywhere in the band of support (between 15000 and 15100). The ability to take such a strategy with binary options forward makes for an interesting opportunity. On the one hand, yes, traders need to wait 18 hours before putting it into practice. But starting to keep an eye out for the index looks like a very good plan. Our overall indication here is for a continuation higher, so be prepared for a push higher above resistance at 15490. So binary options traders can take up options on any break above the band between 15490 and 15500. The levels in question today will surely be tested today so be ready for the action.

NIKKEI WITH BINARY OPTIONS 8-7-2014

With other Asian indices showing corrections during the Asian session, including the Hang Seng, SSE, and others, it’s very likely to weight on the European session ahead. While we expect the US session to start the turnaround, it is very likely that the European session will to be marred by corrective moves for most of the major indices.

For forex pairs, things are likely to stall. Don’t expect any major moves in the forex market while such corrections are expected and most analysis do in fact expect them. As such, if you are trading on the EUR/USD or other major pairs, keep a close watch on the major levels of interest from the previous days of trading. We don’t expect a major break in the coming 8-12 hours, so stick to range trading with binary options and keep away from direct reversals with binary traders on forex today.

No major news today is a partial reason for the lack of impetus we expect in the forex market.

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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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