Trading EURUSD binary signal using Nadex binary options resulted in a risk of $43 per contract and profit of $38 per contract. Here’s how the trade played out.
Trading EURUSD Binary Signal Using Nadex Binary Options
At 6:14 am New York time, a buy signal was issued on the EURUSD for 1.2282. Instead of incurring risk of more than $50, I opted for a slightly OTM at 1.2284 with a limit order at $43 (risk parameter). Price was moving very slow so I opted for the full 2-hour binary (8am expiration).
Price initially moved in my direction and then the next bar moved back down barely touching the strike below the ATM (1.2280 was the ATM). I opted to give it one additional bar. (Price had been testing the 1.2276 area, which was where the ATR was.) The next bar moved in my direction — perhaps the hidden divergence was starting to kick in. The next bar moved up two strikes and I opted to exit at $81 (instead of $85) because there was an ATR immediately above price.
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