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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek -SP500, USD/JPY, Gold Weekly and Monthly Expiry - 07/01-07/2013 !!!

    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!

    Originaly posted by Michael Hodges.

    The S&P 500 Bounces Into A New Year

    S&P 500
    Call/Put = Call
    Entry = Below 1620
    Expiration = One Week

    The SPX has been making a nice bounce from the long term support of previous all time highs. Today’s data helped to boost that bounce and sent the index above the 30 day moving average. The rest of this weeks data will likely help to further support the rally, not to mention incoming earnings reports. Although the season officially starts on Monday with Alcoa we have already received a few reports of note. The trend so far? Increased revenue on slightly weaker than expected earnings. If that sounds familiar it should, that has been the trend for the last 3 quarters.

    I expect volume to be a little light this week because of the holiday. This could result in some high volatility days, driven by economic events. I am neutral on the index in the short to long term but bullish in the near. I am trading a call on the S&P 500 with a one week expiry and a target entry below 1620. I will be watching the market closely and may enter into a 3 day call on any signs of weakness.

    Yen Slip Sliding Away

    Call/Put = Call
    Entry = Below 99.75
    Expiry = One Week

    The USD/JPY has also made a nice bounce from long term support. The pair is indicated up but faces some resistance. The pair is currently trading just beneath the psychological 100 level but should puch up through it without too much trouble. I am currently trading a call on the pair with a target entry below 97.75 and one week till expiration. I will also trade another call with 3 day expiration upon the break above 100.

    Europe Returning To Growth

    Call/Put = Boundary Inside
    Entry = between 1.2975 and 1.3150
    Expiration = 3 Days

    New data from Europe shows that the region may be returning to growth. This has been the expectation for the last 6 months despite many reasons to doubt Draghi’s prediction. The next meeting of the ECB is this Thursday and I don’t expect any changes to policy. I doubt the ECB will increase QE and there is not reason enough for them to stop it either. Until then I expect the EUR/USD to hold steady where it is, trading near the long term support/resistance of 1.3000. Because of this I have decided to try out a boundary inside option with a predicted range of 1.2975 and 1.3150 with three days to expiration.

  2. #2
    Specialist Member marvel's Avatar
    The USD/JPY soared through the 100 very easy and I bought an option immediately after that. With four hour duration it ended in the money very fast. I am not absolutely sure, but I think if you entered your options also will end in the money Michael. On SP500 I am not so sure as the NFP is a big question still. EUR/USD could be a good gain with a boundary option before ECB press conference, but after that it will break the range for sure!

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