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By: Adam Stone
May 18th, 2015 5:12am 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 17.400
• Upside Potential: The downside potential for this binary put option is 180 pips to 15.600
• Downside Potential: The upside potential for this binary put option is 105 pips to 18.450

Silver has advanced after reaching its intra-day low of 15.598 on April 24th 2015 which marks the low end of its current horizontal support level. A bullish price channel has formed and supported the advance to the upside. Upward momentum was strong enough to allow a breakout to occur and Silver is now trading above its bullish price channel, but inside of its horizontal resistance level which formed as momentum was unable to push this commodity to new highs. Fundamental factors have assisted the strong advance which reached an intra-day high of 17.719 today on May 18th 2015.


Price action is now trading inside of its horizontal resistance level which is being intersected by the ascending resistance level of its bullish price channel. Silver is anticipated to drift down to its ascending resistance level from where a breakdown is likely to lead the way to its horizontal support level. Binary options traders can take advantage of the expected corrective phase with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 17.400 for a risk/reward ratio of 1.0/1.71.

Silver was exposed to a trading environment which featured a decrease in volatility as the bullish price channel allowed for an orderly advance away from its intra-day low. An increase in volatility accompanied the breakout above its bullish chart pattern and is expected to increase further as buyers and sellers are expected to test its newly formed horizontal resistance level. Buyers are anticipated to extend the advance with a breakout while sellers are expected to force a breakdown below its ascending resistance level in order to push this commodity back down to its horizontal support level. This favors binary put options in Silver.

Silver will face its first support level at its intra-day high of 17.225 which was reached on May 13th 2015. This level represents the breakout above its bullish price channel as well as the low end of its horizontal resistance level. A breakdown will take Silver to its ascending support level around the 16.550 mark. An increase in volatility is likely at this crucial support level. The next support level awaits Silver at its intra-day low of 15.861 which was recorded on April 20th 2015. The final support level is located at its intra-day low of 15.598 reached on April 24th 2015 from where a double bottom formation could develop.

The following economic data out of Switzerland is expected to impact Silver:
Annualized Retail Sales for the month of March:
• Expectations: An annualized contraction of 0.8% is expected for the month of March
• Previous Report’s Data: An annualized contraction of 2.7% was reported for the month of February
• Impact on Silver: The anticipated slowdown in the contraction rate for annualized retail sales may suffice to pressure Silver to the downside which favors binary put options in this commodity

In addition the following economic report out of the United States is expected to impact Silver:
NAHB Housing Market Index for the month of May:
• Expectations: A level of 57 is expected for the month of May
• Previous Report’s Data: A level of 56 was reported in the month of April
• Impact on Silver: The expected improvement in the NAHB Housing Market Index is likely to apply downward pressure on this commodity; 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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