This morning there was one trade setup that resulted in 4 trades using a combination of the Nadex touch brackets and binary options. Here’s out the trades went.
First, the trade setup was identified from the higher timeframes. Although the GBPUSD had been moving upwards, a retracement to the downside was likely. Analyzing the lower timeframes, they confirmed the downward move was beginning. This was one trade setup if you were using the spot forex market.
Using a combination of strikes, I was able to build four trades:
- 1.3136 strike – 5 am expiration, $30.50 in risk and $49.50 in profit.
- 1.3127 strike – 6 am expiration, $18.75 in risk and $41.25 in profit. This one I exited early because price was hesitating at the ATR on the 15-minute chart and the 5-minute Stochastics was oversold. Instead of my typical $20 target, I modified it to $40.
- 1.3131 strike – using a 5-minute binary option, with $28.25 in risk and a profit of $51.75.
- Touch Bracket 1.2913 – 1.3163 for a risk of $24, which is still pending.
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