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BOUNCE BACK?

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
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BitCoin/CNY 5386.325 10:00 03.12
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BITCOIN 781.315 09:20 03.12
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By: Adam Stone
January 28th 2014 6:00pm GMT, London UK
 

World equity markets tried to rally back higher to varying success. In the US for example, after an abysmal Friday, markets tried to regroup to start the week but the rally came short of even breaking back to a positive day. It was a rather up and down session across most markets and US indices were subdued in relative terms. Binary options traders, who are often focused on forex and major stocks like Apple stock. Speaking of Apple, the world’s largest company, by market capitalization, the tech company disappointed the street by showing lower than expected results for the previous quarter in terms of sales revenues for the iPhone as well as a tepid outlook on the near future.

The fact that China’s recent economic results spell downturn is also hurting the stock’s outlook seeing as how the recent bet on China was a large and costly strategic decision that as it turns out, might simply not work out into a profitable move. The market reacted to this viewpoint by dumping Apple stock and leading it to one of its worst performances in recent months as it dropped more than 8% yesterday. The stock closed the session at 550.5 and could continue to head downward as there seems to be little in the way of support until we reach the 548 level and below the support drops off to the 546 level and as such, binary options traders might look for breaks of these levels to take down options. The risk level of these signals looks rather low at the moment due to what looks to be an impending triangle patter on the daily charts.

Note that yesterday we reported a triangle formation on the EUR/USD 15 minute chart and as expected, there was a break. This is only going to show the value of understanding how to recognize such patterns and thereafter isolating the proper strategy to make profitable moves based on them. The EUR/USD forex pair broke lower as the formation completed itself mid session yesterday.

AAPL with binary options 28-1-2014

It is now testing the resistance at 1.3620 with an eye to breaking back into the range of the triangle formation. Look for further upward pressure for the forex pair today as it stretches early gains.

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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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