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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, EUR/USD, USD/JPY Weekly Expiry - 10/21-28/2013 !!!

    The new Top Five Tips of the Week from Michael are here. Check them out and find which are the best binary trading ideas for this week. Test them on CommuniTraders Binary Trading Platform!

    Originaly posted by Michael Hodges.

    The S&P 500 Is Making A New High

    S&P 500
    Call/Put = Call
    Entry = Below 1740
    Expiration = One Week

    The S&P 500 broke out to a new high last week. This for some is a scary time to enter the markets but for others a great time. Many successful traders will tell you that when a market is making new highs it can be a good time to buy and I am one of them. The market is bubbling with bullishness at this time and is indicated higher. The long term and short term charts are both firing off signals now for bullish positions. Not only has the index broken above the long term resistance of the previous all time high it has also broken above an upper channel line. The indicators are bullish; MACD is strong a strongly rising, stochastic is moving up with plenty of room for more.

    At the same time the candles the are also strong. Six of the last eight days have had white candles with fat bodies. I would not call them Three White Soldiers but they are definitely fat enough to be considered bullish. Not to mention the candles come in the middle of the consolidation range and are an extension of the long term trend line bounce. I am bullish on this indicator and am trading weekly calls with a target entry below 1740.

    Euro Moving Up With Little Reason

    Call/Put = Call
    Entry = Above 1.3650
    Expiration = One Week

    The EUR/USD moved up unexpectedly last week, putting not one but two of my trades out of the money, for the moment. Those two trades are both longer term trades with an initial expiration of one month. They are both now only a few weeks away from expiry and I am still confident they will profit. The EUR/USD moved up last week on fear the U.S. would default, pushing it up to the very extreme top of the long term range. There is no bull signal at this time and the candles are not looking very promising. I expect the data tomorrow and the rest of the week will support the dollar and push this trade lower as expected. I am trading another put this week with a target entry above 1.3650 and one week until expiry.

    Important Yen Level: 98

    Call/Put = Call
    Entry = Below 98.50
    Expiration = One Month

    The USD/JPY has been struggling with where it wants to go. It is wrestling with Abe, Kuroda, the Japanese people, the USD, tapering, the data in Japan, the U.S. and globally. Over the long term the USD/JPY pair is trending sideways. The pair is clearly stabilizing and the 98 level is looking pretty good as the launching point for future bullishness. This week may be a big one for data, which will impact the economic impact, the central banks and currency pairs like this one. I am still bullish on this pair long term and am trading a longer term call with a one month expiration and a target entry below 98.50 or as close or below 98 as I can get.

  2. #2
    Veteran Member Ammeo's Avatar
    On USD/JPY , I see the recent pullback as a further opportunity to load. Looking for the low 97's to buy in again....

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