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By: Adam Stone
June 10th 2014 6:05am GMT, London UK
Binary options trading begins the day with many items to think about. For starters, US equities once again pushed higher and reached yet another record high yesterday. The S&P, the only index of the American stock indices that we recommend trading on for reasons we explain below, once again provided a clean break and climbed higher to a new high. The behavior of the S&P for binary options traders is just about perfect. The reason is that if and when a break comes around, the S&P seems to almost always hold up above the break. As such, binary options traders are consistently able to take up options (on upward breaks) with little risk of a retreat. With no retreat, the follow-through needed to verify a break is very minimal with the S&P and this is expressly what occurred yesterday despite a mid-session scare where the index fell into negative territory, momentarily.

However, when trading breaks on the S&P we have always maintained that binary options traders should always use end-of-day (EOD) expiries to secure profits as mid-session moves, like the one from yesterday are rather common. So to remove doubt by eliminating the fear of retreats. While they may occur, the statistics on this index are stellar. Of the last 100 breaks seen on the S&P in the last 1.8 years, the index has comprised well over 100 separate and distinct breaks with only a mere handful, 4 to be exact, working out to be false breaks. This incredible behavior allows binary options traders to rest assured that solid breaks allow the trader to take EOD trades with low risk.

SP with binary options 10-6-2014

For the day ahead, expect the S&P to break upwards again with 1952 being the resistance to watch for. Support levels are at 1949.45. A break below 1950 won’t cut it so don’t trade this level as a pivot as risk levels would be considered much higher than need be. So even if the market retreats today and corrects back down, if the market doesn’t push below 1949.45, the move will not be considered a break and as such, we can not recommend taking such a trade. As always, we seek the lowest risk trade with the highest likelihood of follow-through post break. A move downward, which would be considered strictly corrective, is fine in this case as well. However, binary options traders need to take care to pinpoint their trades down to the most exact of supports and resistances that constitute actual breaks.

So for the day ahead, look for a move above 1952 with binary options for the end-of-day or 1949.45 for down options. Any other levels will be considered relatively high and as such unnecessary levels of risk for such a day of trading.

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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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