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SILVER BINARY PUT OPTION – MARCH 23RD 2015

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By: Adam Stone
March 18th, 2015 7:38am GMT, London UK
Today’s Binary Options Trading Strategy:
• Commodity: Silver
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 16.600
• Upside Potential: The downside potential for this binary put option is 130 pips to 15.300
• Downside Potential: The upside potential for this binary put option is 40 pips to 17.000Silver has enjoyed a solid advance which took this commodity from its intra-day low of 15.286 which was reached on March 11th 2015 to its most recent intra-day high of 16.904 which was recorded on March 20th 2015. The inflow of capital into Silver was a result of the disappointment out of the US Federal Reserve. Expectations priced in a very hawkish Fed, but the press conference showed a rather dovish Fed which caused an exodus in US Dollar long positions. The capital was placed in safer instruments such as Gold and Silver. A decrease in upward momentum is expected over the next few trading sessions.

 

Trading Silver 23 March 2015

Price action is now trading inside of its horizontal resistance level and started to drift away from its current intra-day high. Silver is anticipated to resume its drift to the downside until it can breakdown and accelerate into its horizontal support level. Binary options traders can profit from the expected move to the downside with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 16.600 for a risk/reward ratio of 1.0/3.25.

Silver was exposed to a low volatility trading environment which accompanied the move to the downside, but as price action spiked above its horizontal support level and advanced in a brief period of time into its horizontal resistance level an increase in volatility followed. Volatility is expected to further increase as buyers and sellers are facing off inside of its horizontal resistance level. Buyers may attempt to force a breakout in order to extend its current gains while sellers are likely to attempt a continuation of the current drift away from its most recent intra-day high. This favors binary put options in Silver.

The first support level awaits Silver at its intra-day low of 16.083 which was reached on February 24th 2015. This level represents the low recorded during a drift to the downside prior to a reversal which took this commodity to its intra-day high of 16.890 on February 26th 2015. A breakdown below this level will take Silver to its ascending support level around the 15.800 mark from where a further breakdown will clear the path for Silver to reach its final support level located at its intra-day low of 15.286 which was reached on March 11th 2015.

The following economic data out the United Kingdom is expected to impact Silver:
CBI Trends Total Orders & CBI Trends Selling Prices for the month of March:
• Expectations: A level of 9 is expected for CBI Trends Total Orders in March, a level of 8 for CBI Trends Selling Prices
• Previous Report’s Data: A level of 10 was reported for CBI Trends Total Orders in February, a level of 8 for CBI Trends Selling Prices
• Impact on Silver: The expected reading out of today’s CBI report is likely to result in an outflow of capital from Silver which favors binary put options in this commodity

In addition the following economic report out of the United States is expected to impact Silver:
Existing Home Sales for the month of February:
• Expectations: A monthly increase of 2.0% is expected for the month of February
• Previous Report’s Data: A monthly contraction of 4.9% was reported in January
• Impact on Silver: The anticipated increase in existing home sales may suffice to pressure this commodity to the downside; this favors binary put options in Silver

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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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