The binary signals EURUSD kicked off at 6am this morning for a buy at 1.2307. Instead of choosing the 1.2306 binary, I opted for the 1.2310, which had $44.25 of risk per contract for a 7am expiration.
Binary Signals EURUSD
The chart below shows the signal, as well as the multiple ATR timeframe with the Stochastics. Notice the hidden divergence that formed right at the 30 minute ATR (blue plus sign) with the Stochastics being oversold. Also, notice that the white ATR is above price. This is important because it shows that price may not make a full move to the upside (taking out the previous high).
After entry, I initially set my profit target at $80. However, by the end of the bar, weakness appeared (bar closed about midway). I lowered my expectation to $75 and was filled when price reached up to 1.2315 (I anticipated price to get to 1.2318 which is the yellow line on the chart).
The next bar ended as a doji with a close in the lower percentile, which indicated the next bar would be down and it was. Price is currently trading at 1.2306. This shows the importance of modifying your expectations when the price bars are indicating that you should. It was better to take the $30.75 of profit per contract versus losing the $44.25 of risk I paid when I entered off the binary signals EURUSD.
This is also why I tell you to monitor your trade and don’t just expect it to expire in your favor. A trader’s job is to take profits when profits are offered — not place the trade and forget about it.
The binary signals EURUSD made money as long as you did your part — monitor the trade and take profits early, if and when the price bars dictate.
You can sign-up for the binary signals by clicking here.