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By: Adam Stone
April 3rd, 2015 5:12am 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 1,200.00
• Upside Potential: The downside potential for this binary put option is 5,725 pips to 1,142.75
• Downside Potential: The upside potential for this binary put option is 1,965 pips to 1,219.65 Gold has bounced back into its horizontal resistance level after its ascending support level prevented further downside. Gold was in the midst of a price action reversal after recording an intra-day high of 1,219.66 on March 26th 2015. This level represented a false breakout above its horizontal resistance level. The drift lower, which developed after the false breakout, reached an intra-day low of 1,178.38 on March 31st 2015. The ascending support level reversed the losses and pressured this commodity back to the upside.

Price action is currently trading inside of its horizontal resistance level which is being enforced by its descending resistance level. Gold is anticipated to drift down into its ascending support level from where a breakdown is favored. Binary options traders can take advantage from the expected breakdown with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 1,200.00 for a risk/reward ratio of 1.0/2.91.

Gold was exposed to a trading environment with decreased volatility, but a sharp increase in volatility is expected as price action is trapped inside of a triangle formation. The intersection between its ascending support level and its descending resistance level is located just below its horizontal resistance level. Buyers are likely to try and pressure this commodity above its descending resistance level in order to challenge its most recent intra-day high. Sellers are expected to successfully force a breakdown below its ascending support level and accelerate back down into its horizontal support level. This favors binary put options in Gold.

The first support level, after a successful breakdown below its triangle formation, awaits Gold at its intra-day low of 1,178.38. This level marks the low of its previous breakdown from where its ascending support level pressured Gold into a reversal. A breakdown below this level will lead the way for Gold to correct down to its intra-day low of 1,163.72 which was recorded on March 6th 2015. The final support level for this commodity is located at its intra-day low of 1,142.72 which was reached on March 17th 2015. A double bottom formation may emerge from this level and prevent further downside.

The following economic data out of China already impacted Gold:
HSBC Services PMI for the month of March:
• Expectations: A level of 54.0 was expected for the month of March
• Previous Report’s Data: A level of 52.0 was reported in the month of February
• Released Data: A level of 52.3 was reported in the month of February
• Impact on Gold: The reported increase in the HSBC Services PMI out of China is likely to be overshadowed by economic data out of the United States which favors binary put options in this commodity

In addition the following economic report out of the United States is expected to impact Silver:
Change in non-farm payrolls and unemployment rate for the month of March:
• Expectations: The addition of 245,000 jobs is expected for the month of March, an unemployment rate of 5.5%
• Previous Report’s Data: The addition of 295,000 jobs was reported in the month of February, an unemployment rate of 5.5%
• Impact on Gold: The anticipated increase in non-farm payrolls out of the United States as well as a stable unemployment rate may suffice to apply downward pressure on this commodity; this 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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