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GOLD BINARY PUT OPTION – APRIL 10TH 2015

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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By: Adam Stone
April 10th, 2015 7:00am GMT, London UK
Today’s Binary Options Trading Strategy:
• Commodity: Gold
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 1,192.00
• Upside Potential: The downside potential for this binary put option is 4,925 pips to 1,142.75
• Downside Potential: The upside potential for this binary put option is 1,655 pips to 1,208.55

Gold is retreating from its most recent intra-day high of 1,224.18 which was reached on April 6th 2015. This level represented a false breakout above its horizontal resistance level as well as a higher high as compared to its previous intra-day high of 1,219.66 recorded on March 26th 2015 which also represented a false breakout above its horizontal resistance level. Gold reversed quickly and drift to the downside until price action met its ascending support level and this commodity recorded an intra-day low of 1,192.57 yesterday on April 9th 2015.

 

Gold
Price action is currently trading at the low end of its horizontal resistance level and at its ascending support level. Gold is expected to successfully breakdown below its ascending support level which would open the way for a corrective phase. Binary options traders can take advantage from the anticipated breakdown with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 1,192.00 for a risk/reward ratio of 1.0/2.98.

 

Volatility was unable to increase significantly despite the false breakout above its horizontal resistance level and following corrective phase, but an increase in volatility is expected as buyers and sellers are set to face off at a crucial support/resistance level. Buyers are expected to push this commodity into another false breakout above its horizontal resistance level in order to test its most recent intra-day high. Sellers are anticipated to accumulate enough downward momentum to force a breakdown below its ascending support level which will lead to a new corrective phase. This favors binary put options in Gold.

 

Gold will be faced with its first support level, after a successful breakdown below its horizontal resistance level as well as its ascending support level, at its intra-day low of 1,178.38 which was reached on March 31st 2015. This level represents the intra-day low reached during its previous corrective phase. A breakdown below this level will take Gold to its intra-day low of 1,159.47 which was recorded on March 19th 2015. The final support level is located at its intra-day low of 1,142.72 which was reached on March 17th 2015.
The following economic data outChina already impacted Gold:
Annualized Consumer Price Index & Producer Price Index for the month of March:
• Expectations: An increase of 1.3% was expected for the CPI in March annualized, a contraction of 4.8% in the PPI annualized
• Previous Report’s Data: An increase of 1.4% was reported for the CPI in February annualized, a contraction of 4.8% in the PPI annualized
• Released Data: An increase of 1.4% was reported for the CPI in March annualized, a contraction of 4.6% in the PPI annualized
• Impact on Gold: The reported annualized contraction in the PPI was unable to pressure Gold to the upside; this favors binary put options in this commodity
In addition the following economic report out of Canada is expected to impact Gold:
Employment Report for the month of March:
• Expectations: No jobs addition are expected for the month of March, an unemployment rate of 6.9%
• Previous Report’s Data: The loss of 1,000 jobs was reported in the month of February, an unemployment rate of 6.8%
• Impact on Gold: The anticipated absence of jobs creation in March represents and improvement over the previous month and may be strong enough to apply downward pressure on this commodity which favors binary put options in Gold
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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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