Here’s this week’s Binary Lab webinar schedule, as well as my comments on the market with regard to trading binary options. Take note that this week we’re running a short week for webinars as I’ll be in London attending the Financial Partners Expo in ExCel, London. As a matter of fact, I’m also looking forward to meeting several members of Binary Lab based in London. I’ll be cramming 4 sessions between Monday and Tuesday, so mark your schedules for these timings.
Webinar Schedule for Feb 6-10 2017
All times in Eastern Standard Time (EST), GMT -5.
Monday – 9am
Monday – 8pm
Tuesday – 830am (Events: CA – Building Permits; US – Trade Balance)
Tuesday – 830pm (Event: CHN – Trade Balance)
FX Market for Binary Options Trading This Week
I’ll generally be taking a very reactive approach to the FX markets when trading Binary Options this couple of weeks, because with BREXIT debates going on, US President Donald Trump announcing members of office and new policies, and further more, on this Friday 1am EST, there is the EU – Extraordinary Economic Summit – I expect that we may have some surprises this week with regard to short term conditions. As of today, the D1 chart on many pairs is in reversal from last weekend, showing as Doji or Engulfing Bar, with pennant or horizontal channel consolidation forming over the last 10 days on various mains and popular crosses. Today and tomorrow will be indicative if trends will run on if price closes out of the pennants/horizontal consolidations. Otherwise, market movements can get tighter over next few days, especially closer to Friday where I think UK’s member status in the EU will be one of a few key topics. GBPUSD currently has given up all of last week’s gains. The USD is continuing to weaken, after mixed reports on Friday’s Non-Farm Payroll (btw, last Friday’s NFP was a rather muted one – probably due to the mixed results, namely, increase in jobs, but also increase in unemployment rate), not to mention, Trump’s on-going sequence of meddlings with delicate US national issues.
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Where trading is concerned, I personally plan to ride trend breakouts, and catch pullbacks, and stay out of consolidations narrower than 9pips. If ever I see a flat market, I will just stay out. This can happen when the economic factors are affecting the markets in similar way as several occasions in past weeks. Martingale-ing is a no-no if ever the market goes flat. If M1 is too full of dojis or bars with long wicks, I suggest moving up to M5 to reduce noise. Personally if I have to go up timeframe, I rather stay out as i’m not getting good return on my time investment.
Please check our “Binary Lab Trading Community” FB and Telegram groups for webinar links, posted at the scheduled times.
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