EUR/USD Trading for June 20, 2014

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EUR/USD Trading for June 20, 2014 | BinaryOptions.net

As I stated in my last post, I am trading at Boss Capital at the moment. I do like how you can obtain an 85% payout for an in-the-money trade. That’s really as low as I prefer to go with binary trades in terms of payout percentages. Having a lower break-even percentage is nice.

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mayhem

glad you,re back..i like a lot you're style of writing about your trades and even more the fact that you post losing trades.I looked on my chart and my support 1 was at 1.35644,14 pips below your support 1.what worked more for you pivots or s/r made by price history?

mifune

I don't mind posting losing trades at all. It's all part of it and everybody will experience them.

Pivot points do vary based on chart settings because they are based on the previous day's high, low, and close. These can vary based on what is considered the closing time. I think the most reliable pivot points tend to be those that use the New York close (considered 5PM EST) since those are the most widely used. Traders in Europe may often use the London market close. And various MT4 platforms will use the close of whatever time zone they are based on. So yes, there can be some discrepancies.

I use pivot points as guides in my trading. I find them useful, but not any more or less useful than support or resistance derived purely from previous price history. I think they both work well. I am always content just to trade from a plain price chart, but pivots and even Fibonacci retracement levels can give you more tools to work with to give you these potential areas of support and resistance.