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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek -SP500, USD/JPY, Gold Weekly and Monthly Expiry - 8/05-12/2013 !!!

    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 Reaches New Highs

    S&P 500
    Call/Put = Call
    Entry = Below 1705
    Expiration = One week

    Last week the S&P 500 made a new all-time high, two days in a row. This week it was reported that last month saw record inflows of capital into U.S. equity funds. This is a fundamental piece of evidence supporting the recent rallies. Record inflows of money into mutual and other funds shows that there is real money supporting the already bullish technical picture. At the current time the charts of the S&P are about as bullish as I have seen them. The daily chart is showing a stochastic buy, a MACD buy, is breaking above resistance and setting new all time highs. This also following a 12 month extreme peak in the MACD, a sign that momentum is strong and higher prices should follow. Backing all this up is the long term chart with is still showing a strong buy as well. Based on this evidence I have no choice but to trade calls on the S&P 500. My target entry will be near support and below 1705 with one week until expiration.



    Stubborn Resistance To Abenomics

    USD/JPY
    Call/Put = Call
    Entry = Below 98.75
    Expiration = One week


    The USD/JPY is facing stubborn resistance at the 100 level. Little do those bears no but the technical picture is shaping up for a strong move higher. Abe and his plans are here, his government supports him and they are all committed to the long term strategy. This pair should continue to move higher once the 100 level is whittled away. I am trading calls on the pair this week because of the technical picture and the fact that the USD/JPY is trading near the bottom of the near term trading range. My target entry is below 98.75 with one until expiration.



    Euro Topping Out In Near Term

    EUR/USD
    Call/Put = Put
    Entry = Above 1.3250
    Expiration = One Week


    The EUR/USD pair is trading near the top of its trading range. Indicators have rolled over and are weakening plus I see no change, or expected change, to fundamentals. At least not this week. Tapering is factored in, right now it is time for currency traders to watch the data for signs of if it will happen in September or not. For now I am trading puts on the euro with a very short term expiration, at least for me. My target is to get in above 1.3250 with one week until expiration.

  2. #2
    Specialist Member LesterK's Avatar
    This week Michael trades don’t look so great like they were last week. There is still chance for most of them to end in the money, but the chances looks smaller with the current market development. We have still two trading sessions to see what will happen, but some of them like USD/JPY looks totally lost, while others are not so bad but still in negative territory.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by LesterK View Post
    This week Michael trades don’t look so great like they were last week. There is still chance for most of them to end in the money, but the chances looks smaller with the current market development. We have still two trading sessions to see what will happen, but some of them like USD/JPY looks totally lost, while others are not so bad but still in negative territory.
    NO doubt, my trades on the S&P are good, gold maybe but the currencies are a bust. Good thing I have been doing so well lately, and that i use my money management with every trade!

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