Binary option broker: Binary options crude oil
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Binary option broker. The best way to approach crude oil binary option trading is to rely on fundamental analysis and use technical analysis to determine the best entry and exit points for your trade. Here are some of the main factors you should be on the lookout for: Weekly US crude oil inventories report, due at . /08/09 · About Crude Oil. Crude oil is one of the commodity assets in the binary options market.
On any binary options platform that offers commodities, crude oil is one of the big three (the other two being gold and silver). The reason is not far-fetched. The world relies heavily on crude. Wars have been fought on crude oil and without crude oil, the world as we know it will be very different indeed. Combining the news and the double bottom formation, a discerning trader would know that the only way crude oil was going was northwards. This sets up the following binary option plays: 1) Touch option with an upside barrier above the neckline level of $ 2) No Touch option with a downside barrier below the double bottoms at $ Commodity Binary Options.
This article is sponsored by OptionBit which is our recommended broker for binary options broker trading oil with binary options. It is true that this is a binary options trading blog, but the truth is that the principles we shall talk about cover all assets traded in the binary options market, binary options crude oil . So we will select an instrument that is traded on the binary options platforms of many brokers to illustrate a typical trade strategy, and that asset is crude oil.
Many traders are familiar with trading currencies, but very few trade crude oil. As such, they are in a position where they are leaving a lot of money on the table. This is supported by the fact that the same technical analysis principles used in forex analysis are virtually the same principles used in technical analysis of any other instrument, binary options crude oil . What is good for binary options strategy the goose definitely has to be good for binary options the gander as well.
Let us examin a binary options trading strategy that will employ the use of the Fibonacci retracement tool, this time not as a strict retracement tool but as a tool that can be used for binary options strategy range trading. Look at this daily chart for crude oil CLJ1. This kind of trade is a dicey one, because the fundamentals that were pushing crude prices were ones that could not be predicted. This was a binary options crude oil situation. Any shift in the dynamics of the war would immediately cause a shift in the behaviour of the underlying asset.
This was what was playing out here. Prices were rising as no one knew how long the war would last. As battles for the Libyan cities raged and forex towns were taken, lost and re-taken by the opposing fighters, prices were doing a dance.
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