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By: Adam Stone
July 14th 2014 5:06am GMT, London UK
The new binary options trading week begins today and we hope it’s going to base itself on the optimism things closed with this past Friday. Although nothing overly dramatic, the positive close of the S&P was enough to get us thinking uptrend again. While it’s a bit early to even begin thinking about it considering the inability of the S&P to crack the 2000 level while very positioned to do so over the last 7 days. The formation on the charts is improving and it looks as though a few more positive days could very well see the 2000 broken and behind us.

Binary options trading today specifically though won’t have the luxury of thinking about technical breaks of this type. The most classic of breaks, above resistance levels of this significance, obviously don’t come around often and as such, we need to readily and actively prepare for the event well in advance. The reason such breaks are so critical in our mind-set is that the expected follow-through of the market, after the break, is at its peak. In other words, the expiry you choose to trade upon seeing the break becomes less critical and as such, reduces unwanted losses and even allows traders to go “bigger”. In other words, without the fear that the market will suddenly recoil and retreat, the ability of the binary options trading strategy to be bigger and wider in scope becomes much greater. These are in essence the events that allow the binary trader to make the big hit profits we await all week.

For the day ahead, without a sudden move higher from the current 1967 above 2000 for the S&P, we are likely going to see binary options trading refocus on the old stalwart; the EUR/USD. The forex pair is currently forming a very short term head and shoulders. While this pattern is generally reserved for longer term reversal signaling, the short term outlook and use of such a pattern for binary options trading is still valid. As such, looking at the last 7 sessions, we see the pattern developing and nearing its completion. While a move above the local resistance (see image below) looks rather likely, it doesn’t mean that such a break will cause the pattern to cease to exist. In fact, it may actually strengthen it much like a cloud formation above your head gathers vapor and blackens. Well, this, in a more positive outlook, could yield a massive move and in quick order. In this case, we’d expect the support (the blue line) to break eventually. While in the past, we waited days and weeks for the completion of such patterns for binary options trading, in this case, it looks like it’s a matter of hours or days in the worst case. Binary options traders need to ready themselves for this break. As mentioned in our analysis of the S&P, such breaks are precisely what we seek due to the large move expected after the break. The break lower will create a wide scale USD recovery and binary options trading will likely focus outside the EUR/USD on such forex pairs as the USD/JPY, GBP/USD, and possible the AUD/USD as well.

EURUSD with binary options trading 14-7-2014

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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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