Profiting on GBPJPY trades this morning was easy if you were in the coaching sessions. Out of all the forex pairs, the GBPJPY had a higher timeframe setup that indicated a retracement was likely. However, the 2 hour Nadex binary options did not open until 8am and the trade still needed to setup.
In this case, the trade did setup because price moved above the ATR and moving averages, then went back for a test of support. Support held and I opted to use both the Nadex binary options and Nadex call spreads.
As shown below the risk on the binary was $22 and the risk on the call spread was $17 (per contract on each). By 9:05 my profit target at $75 was filled on the binary option and the call spread is still pending.