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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, EUR/USD, Gold Weekly Expire - 06/10-17/03/2013 !!!

    Hi guys,

    The new Top Five Tips of the week from Michael are here! Check them out and see which are the best binary trading opportunities to trade this week.

    Originaly posted by Michael Hodges.


    S&P 500 Returns To Trend

    S&P 500
    Call/Put = Call
    Entry = Below 1650
    Expiration = One Week

    The S&P 500 is displaying a fantastic stochastic buy signal on my daily charts. I use the standard setting so it’s easy for you all to follow along. Adding to this technical signal is confirmations in the form of a long term trend bounce and a break above the short term moving average. The 1650 level appears to be near term resistance for this week so it is the level to watch. Long term momentum is bullish so this level should not put up to much of a fight. Longer term there is risk of a top forming at this level but the index is likely to retest the recent all time intra-day highs around the 1680-85 level.


    For now I am still bullish and trading calls on the index. My target entry for the week is below 1650 with a one week expiration. I will also be watching out for signs of topping or reversal, especially once the index trades back up to the all time highs. Near term support exists at last weeks closing price around 1643 and the short term moving average around 1630.


    Dollar Gains Against The Euro

    EUR/USD
    Call/Put = Put
    Entry = Above 1.3190
    Expiration = One Week

    The euro had been gaining ground against the dollar as fear of Fed tapering sapped interest in the greenback. The NFP release has changed all that. Maybe more importantly the U.S. Unemployment rate has changed that. With the data showing a strong economy, but one that is not too strong, and unemployment above the Fed’s sweet spot tapering is off the table for now. The dollar should resume its upward trend versus world currencies which means the EUR/USD will go down. I am trading puts on the EUR/USD with a target entry above 1.3190 and a one week expiration.


    Gold Breaks Support

    Gold
    Call/Put = Put
    Entry = Above 1380
    Expiration = One Week

    Gold broke support. The same figures the help support a stronger dollar and U.S. economy also help to depress gold prices. Now that the $1390 level has been breached I think the retest of recent lows near $1326 I have been calling for is more likely than ever. I am trading puts on gold with a target entry above $1380 and a one week expiration.


  2. #2
    Legendry Member Michael Hodges's Avatar
    I may have been really wrong this week. These trades close about 15 minutes after the open on Monday so there is still hope for one or two of them....

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