Webinar Schedule & Trading Analysis
Welcome Traders to 2017!
First of all, I invite you to check out my 2017 Trader’s Welcome Message FB Live Video HERE.
This Week’s Webinar Schedule
This is the list of webinar timings for our Binary Lab live webinars this week. As mentioned in my FB Live video, unlike the usual, we’re starting mid-week this week.
All timings in Eastern Standard Time (GMT -5), New York Time.
Wednesday – 815am EST (Event: USA, ADP Employment Change)
Thursday – 9am (Event: Jobless Claims, Purchasing Managers’ Index)
Friday – 815am (Event: Non-Farm Payrolls)
Webinar Links will be posted in our Binary Lab FB and Telegram groups.
**Note: These are Binary Lab Member-Only Webinars. You can Become A Member of the Binary Lab to watch, and participate in our Live Webinars and Community. Click Here To Find Out How You Can Join For Free.
Continue reading for my overview and analysis here…
Weekly Binary Option Trading Analysis
Each week where I do trade (I totally skipped trading last week – I don’t believe in trading during time people are supposed to be merry-making), I look at various factors, like Key Events, Key Support/Resistances, Price Action, and then give comments and suggestions on how I think this should be traded, in terms of strategy and money management.
Key Events To Look Out For:
It’s the first week of the year, and surprisingly, I’m already seeing very decent range across most of the main pairs and popular crosses. Event wise, most banks and governing bodies haven’t got much on calendar this week, and notably, Russia is still on festive break. The Key Event to look for, is the Non Farm Payroll, on Friday 830am Eastern Standard Time. Notably, banks in many parts of Europe are closed for “Epiphany Holiday”.
Still, being the first NFP of the year, I do expect that many key institutional and also retail traders to be at hand for this event, and we might get a decent volume still.
First of all, USDJPY would SEEM to be in a rather critical area. But the possibilities are really rather limited. It is at the 10-month high, as you can tell. It is at a 76.8% retrace of previous downswing. While it is possible to stall and bounce to the downward side, from my experience, anything that gets to 76.8% almost always runs on to 100%, effectively re-entering the range that exists between the 76.8 and 100% markers.
At such points, price is usually expected to doji and stall, however, check out what’s happening on USDJPY M15. It’s already bounced off the 118.423 line, sharply down toward the 200MA and is showing a lot of channel range.
If the USDJPY does continue upward toward 100%, we’ll get nice trends to ride, but as things are, i think it’s gonna be more speculative and we should see many channel oscillations that will be fab for very short term M5 and M1 reversals.
Next check out the EURUSD. Just today, EURUSD tested the previous month’s low, and ricocheted off. It’s currently within a very sharply angled equidistant price channel, and is at a 161.8% Fibo extension as of pullback from the prev month’s low of 1.09115.
Moving to the M1 chart which is my favourite for trading, the EURUSD moved in very predictable oscillation during London session today.
Although in Binary Lab I teach both Trend Riding and Reversal Trading Methods, I tend to prefer reversals as it is often more accurate, and able to quickly grow an account balance. I’ve checked the main pairs as well as the popular crosses and find that thus far this week, Reversals seem to be very good way to trade.
While preparing this blog post, I also took a sample trade on a EURGBP setup I identified. The trade went in the correct direction almost immediately. This shows that the Forex market is behaving in very predictable fashion, as it had been during our last webinar trading week of 2016.
Check out this $5,000 EURGBP 2min Put Binary Option Trade HERE…
As you can see from my drawings on the chart, it turned out in a very predictable fashion.
General Thoughts on Binary Trading This Week
I’m generally OPTIMISTIC about this week’s Live Webinar Sessions given the very good beyond-expectation market movements so early in the year, and am looking forward to some great results!
Nonetheless, those following my webinars are advised to apply the “breadcrumbs” approach to testing the market conditions to ensure increased risk exposure will be safe and not in vain.
Non-Members of the Binary Lab can JOIN NOW to receive access to Daily Webinars, Download Trading Indicators, and Grow Your Trading Experience with our Online Community and Traders Group Chat Mastermind.
Founder, Binary Lab
P.S. It’s great to be back all refreshed after a great Christmas-New Year break!
P.P.S. Remember to check out my FB Live 2017 Welcome Video HERE
P.P.P.S. The broker I use in my webinars and the screenshot above is 24 Option. If you’re outside the USA, and Canada, you can join HERE.