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USD/JPY AND S&P IN FOCUS WITH BINARY OPTIONS

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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By: Adam Stone
April 17th 2014 7:00am GMT, London UK
 

US stocks continued their recent rally as earnings season has hit the focus alerts. With Major stocks like GOOGLE, YAHOO, and other companies all reporting on their first quarter results, volatility is peaking. It’s a bit strange though that liquidity is very low due to the spring/easter holiday season coinciding with reporting this year. Although it’s always incorporated into this period, the low liquidity seems to be allowing volatility to help push markets higher as can be seen in both US and Asian equity indices.

In the US, the S&P, hit hard for much of the last 10 days, shot up over 1% to 1862 after climbing a total of 1.05% and setting up traders with very fertile ground for a run at the resistance level at 1872 today. While somewhat distant, it’s certainly a doable figure and binary options traders may wish to revisit the index now that it’s heading back higher. Daniel Gant, of the GOptions dealing room explained that “today binary options traders who’ve avoided the S&P like the plague of late may very well find themselves back in the fray today as the index heads higher. We’ve seen volume slightly higher than it has been in all of April and this could mean that the collective mindset for the index is now trend-following and as such the likelihood of follow through on a break above 1872 looks very solid today”

S&P with binary options 17-4-2014

Binary options traders may also refocus energies on forex pairs which have been largely underperforming of late. The USD/JPY is a great example as the pair has been unable to break below support at 101.25 which has held up incredibly well now for almost 8 weeks. The level which is also a Fibonacci support level is showing its mettle and binary options traders are likely to use the support as a pivot for reversal strategies. Such strategies may rely on a multitude of tests and retests of the support level. The only issue with this may come in the form of patience, or lack there of. Binary traders may be reluctant to wait for the support level to be reached prior to taking Up options on reversal strategies today and this could spell disaster for profit seekers.

USDJPY with binary options 17-4-2013

The upside potential look dismal at the moment and as such binary options traders will likely leave that possibility behind, at least for now. This can only change assuming the local resistances are broken early in the US session, a feat not likely to occur for the down-trending forex pair. All too often, binary traders get into a bad habit of trying to catch falling swords, and today we want you to avoid this at all costs. Stick to the actual trends in place on a macro level and this should keep your trades as low risk as possible while still using advanced reversal strategies which will allow a multitude of trades to be passed in quick succession and this increase profit potential in tandem.

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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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