Range Trade Opportunities In Binary Options For November 16th

Copyright (c) 2012 Signal Coyote Binary Options Signals

Range trading is fun, because you get to make money while the big trend players battle for control. The problem with range trading is that by the time the range is defined, you can just about bet your ass that it is no longer actionable. That's why the 100 and 200 day simple moving averages are so valuable, especially for swing traders.

The 4 hour candlestick chart indicates a grossly apparent downtrend since the secondary high on October 16 @ 1.3138. This downtrend has run into support at the 38.2 % support line of the July 23, 2012 low (@ 1.2041) and the September 13, 2012 high (@ 1.3178).

We are witnessing here a likely early stage range trade for the EUR/USD between its 200 day SMA, which is just overhead @ 1.28075, and the 100 day SMA @ 1.2646.

You want to make some money? Call up the 5 and the 15 minute candlestick charts. Call up the 100 SMA and the 200 SMA for those time frames. Price has been going up since the Tuesday London open, so buy retracements (downswings) to those levels.

The 200 SMA is KING on an intraday basis. When it breaks, it signals a change in the intraday and maybe even the intraweek trend. The 15 minute by 200 SMA is even more authority.

If you want to know what I really think: 1.2740 is former resistance, now turned support for this developing counter-trend since it was breached on November 8, 2012. Buy the EUR/USD in late Asia, early London as close to 1.2740 as you can. When the price hits the 200 day SMA overhead, expect a breach of that level. Sell that. Don't ask me where to put your stop loss order. If you lose, don't come crying to me. If you win, I am open to any criticism as long as it is unalloyed praise. :)

There are three other levels of overhead resistance at the Fibonacci levels between the October 16 high and the November 12, 2012 low. Binary options players: Expect hesitation at each level. Puts placed there will provide opportunities for profit on an intra-session basis.

Trading range options is one of the best things for a new Binary Options trader to do. We often find that range options are a very easy and quick way for a trader to make money. So when you are new to the world of Binary Options, try to trade range before anything else.

Love,

Fat Charlie the Archangel

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