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By: Adam Stone
June 27th 2014 5:26am GMT, London UK

Trading begins today with more range trading than we know what to do with. Seemingly every major asset is currently stuck in a short to medium term range. Whether looking at the EUR/USD, Gold prices, Oil, or even the S&P, they all seem to be stuck in one form or another. While some assets, like the S&P, have an obvious propensity to go higher, others, like the EUR/USD, seem perfectly inclined to cruise strictly through the range channel.

Specifically, the EUR/USD has seemingly been content to just wander through the range between 1.3590 and 1.3650. The resistance, in this case, at 1.3650 has been tested only once in the last days and shows no signs of breaking any time soon. The support for the forex pair is also very strong and was also tested briefly yesterday and some might even call it a false break. After all, the market did head below the support for a short period only to head back up. The market pushed as low as 1.3575 only to bounce back higher. So for binary options traders today, looking at these levels is again the way to turn out profits without the need to commit to a particular trend. In fact, this is as close to an idea formation on the charts as you can find during day to day trading of the most ordinary type.

EURUSD with binary options 27-6-2014

The ranges create opportunity and with 2 levels available, the range becomes a haven. Binary options traders can take down options on tests of the resistance on each instance they occur. Obviously, the same holds true for the support level which would allow up options to be taken. These trades are called reversal strategy based trades and the signals herein are normally considered medium to high risk trades but not because any individual trade might lose but rather due to the high frequency of trades needed to make the strategy a viable one.

After all, the market doesn’t usually test just once. It’s a repeated trial and error type of situation and binary options traders, if careful and take precautions, can make a lot of positive trades that should round up to a nice profit at the end of the day. With reversal strategies, the trader though needs to be very patient and wait for the absolute closest price available prior to the market breaking the level.

If of course, the market does break higher (or lower in the case of a support) then the binary options trader needs to adjust the strategy to allow for break trades immediately. Failure to take the trade to the direction of a break will cost the trader a great deal. The reason is, these breaks are where the big profit is made. Most reversal/break strategies of this type are based on small reversal trades and big break trades. So when the break comes along, and it eventually will, you need to leverage yourself to take advantage. You need to go big into the direction of the market and rely on the momentum built up throughout the range.

That’s how you make the real money trading binary options. Let’s see how it all plays out today .

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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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