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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek -SP500, USD/JPY, Gold Weekly and Monthly Expiry - 7/29-08/04/2013 !!!

    The new Top Five Tips of the week from Michael are here. Check them out and find which are the best binary trading ideas for this week. Test them on CommuniTraders!

    Originaly posted by Michael Hodges.


    S&P 500 Edging Into New Highs

    SPX
    Call/Put = Call
    Entry = Below 1695
    Expiration = One week

    The S&P 500 has been trading in a narrowing range over the last two weeks. The index is consolidating in anticipation of this week, the big data week. Not only is it a big data week it is possibly the week we get some concrete information on tapering, when it will start and what it will look like. Over the past two weeks the index has created a new all time high, pulled back to test support and is now approaching the long term trend and a likely area for a bounce. The technical picture is rather good and is helping me to maintain my bullish stance. Once the data is out and traders have a chance to digest the data I am expecting the market to move higher. Before getting to bullish and entering shorter term trades I am going to wait for a stronger signal to develop. For now I am trading a long term call with one month expiration. My target entry is below 1690.


    Abe Position Strengthened

    USD/JPY
    Call/Put = Call
    Entry = Below 100
    Expiration = One Week

    I am still bearish on gold longer term but am not convinced this is the start of the next down leg. The metal is indicated down at this time so I am trading a short term position. The metal is caught between two important support/resistance lines and a breakout is really required for me to have a firmer position. At this time gold is near the top of the range with declining indicators. I am trading a put on gold with a target entry above $1325 and one week until expiration.


    Banking On A German Rebound

    DAX
    Call/Put = Call
    Entry = Below 8300
    Expiration = One Month

    German recovery efforts are taking hold and have left the country in position to benefit from global rebound. Now, I am not talking about any kind of booming world economy, just a mild expansionary recovery. Germany, which has been shifting to a more global economy, will benefit from that expansion. The index is trading near upper resistance with bullish long term technicals. Like with the SPX above I am entering a long term call position on the DAX while waiting for the stronger signal to appear. At that time shorter term positions will be appropriate. I am trading calls with one month until expiration and a target entry below 8300.


  2. #2
    Legendry Member Michael Hodges's Avatar
    so far all five trades are in the money, plus one bonus trade I made during the week!

  3. #3
    Specialist Member LesterK's Avatar
    That’s really really great Michael! One of your best weeks I hope all of them will end in the money successfully. Even the bad NFP number won’t disrupt your successful streak!

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