Trading GBPUSD binary options was beautiful overnight if you were using the TradersHelpDesk’s indicators. The charts were aligned to the downside and a trader could have opted to trade either the 60 minute chart or the 15 minute chart when price approached the ATR (average true range) stop (red plus sign on charts).
Trading GBPUSD Binary Options – Beautiful Entries
As shown below, on the 60 minute chart, price moved down from 1.2486 down to 1.2346 or 140 pips. Using the daily binary options, there are strikes every 20 pips (also known as strike width and each expiration has a different strike width). This means that price moved more than seven strikes down in this example. Or using the 15 minute chart, price moved down from 1.2470 to 1.2346. The strikes on the two hour binaries are every ten pips. This means that price moved down 14 strikes overnight, if you were trading GBPUSD binary options.
While a trader could have opted to trade using the spot forex pairs, read this article to find out why I prefer the binaries. In this case, since the timeframes were aligned, traders could build their binary options to the downside every two hours, use daily expirations or combined the two to create multiple trade opportunities.
The advantage is traders do not have to worry about their broker taking the opposite side when trading binary options. Nadex is an exchange not a broker. They can only match buyer to seller and seller to buyer. This levels the field and allows retail traders a fair advantage, which is awesome.
We offer multiple ways to learn to trade GBPUSD binary options. We have the binary signals subscription for $99 per month with several training videos available. Or the Silver Package, with hours of online training available and all the indicators for TradeStation, Multicharts, or NinjaTrader 7. Or the Diamond Package, which includes all the indicators, online training and a 2 day training seminar.