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By: Adam Stone
March 26th 2014 6:07am GMT, London UK

Binary options traders ready to get back on that index bandwagon as the US session finally has a strong session yesterday. The session was the first in 2 weeks with more volume than the preceding session. It’s simply amazing to us that the psychology dictating the collective demand for binary options index volume is so entrenched in the actual directional bias of an index. On the other hand, no other asset class has this phenomenon. Most professional traders claim that the reason this is the case is that indices are the only asset class that have an inherent predisposition to rising above CPI (Consumer Price Index) in a consistent, albeit multi-year, basis.

Our own Daniel Gant, explained it in eloquent terms when stating that “forex tends to be volatile with no clear direction over the long term that can be effectively taken advantage of for the casual trader. Simply holding a position for months if not years is usually impossible with the object of making serious yields. That’s why short term trading is agnostic to direction and simply looking for the breaks and picots needed to make profits on an hourly or daily level.”

The US session, as explained, finished higher and the DOW closed the session up 0.56% to 16367 while the S&P finished up 0.44% to 1865. The next resistance levels for both of these indices are actually very much in effect. We fully expect the indices to be at least tested in the coming sessions. 1878 is the most important resistance for the day for the S&P stock index but we must admit, we are rather skeptical. Although most analysis is pointing higher, a true test of this level in the coming session. We do expect a push higher, but a true test looks unlikely.

As such, binary options traders will do well to keep to a tighter approach today, sticking to more sure fire bets for the day ahead. Binary options trading is always exciting but there’s never a reason to loosen up when resistances/supports are this far away from any clear level of interest from a technical level of things.

Traders must realize the proximity to true resistances on this type of chart pattern is dangerous because the levels are just too far away. It’s not a rule, but certainly a situation that should be respected. As to start firing away trades on a day like today, certainly not before a real move higher to the resistance is seen. So wait for that before any major trade is made or simply stick to smaller value trades until the move is seen.

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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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