Weekly Binary Option Trading Analysis
Hi Traders, I’ll make this week’s analysis short and sharp. Basically I’m trying to systematise the way I write these weekly reports.
First of all, I’m going to cross reference with the trading analysis in last week’s review. Check that out too if you haven’t, for means of comparison to what’s happening.
Significant Events That May Affect FX Markets
The main significant event this week is the Bank of Japan (BOJ) interest rate decision. In the last 6 weeks, the USDJPY has charged back from the yearly lows. Breaking the 44-week high last week, USDJPY is currently looking to recover from the slump that lasted the entire of this year. Refer to the diagram below.
Continuing from last week’s analysis, I wish to draw your attention to the GBPUSD. Last week I mentioned that it will either break to the up-side or down-side. As you will see from this image, over the last week it already broken to the downside, and is around the 161.8% vicinity, trying to push further below 1.2400.
Next, have a look at the GBPUSD H1 Chart.
Short Term Trading Recommendations
As you know.. in Binary Lab Webinars, I live trading the really short trades that last between 60s-5mins. So let’s have a look at the M1.
This week I say that you’re best FOCUSING ON TREND FOLLOWS, NOT REVERSALS.
Can you see how it’s going sideways, down, sideways, down?
Now…what if we looked at things in a slightly different perspective? Looking for breakout areas, rather than reversals?
The Way To Trade This Week
Have a look at this…
Of course, it’s arguable that there are still counter-trend opportunities in this picture and the FX markets in general. But the point is, what is the HIGHER PERCENTAGE APPROACH in handling the markets.
And that will be the one you should take.
This is how one of the movements on EJ is breaking the Fibo levels like nothing.
Join us on this week’s Binary Lab Trading Webinars to see how we handle the markets!
All timings in Eastern Standard Time (EST), GMT-5
** Sessions may be increased or reduced depending on conditions, as we’re closer to Christmas.
Monday- No session, I’m resting from travel.
Tuesday- 10am, 9pm
See you on the sessions!
P.S. As mentioned in my email, cut back your initial trade size to allow room for martingaling. It’s decent price action this year end, but don’t count on everything to always go smooth because it won’t. Better to be safe and smiling during this festive time!