Friday Jobs Number Binary Gold Trades

Friday Jobs Number Binary Gold Trades

Friday Jobs Number Binary Gold Trades
Friday Jobs Number Binary Gold Trades Getty Images

It’s Friday and the Jobs number is due out shortly at 8:30 a.m. ET. With the Fed signaling that they will raise rates at next week’s meeting this seems to be the final news event leading up to Janet Yellen’s decision on March 15th. With the Jobs number due out this morning there is potential in a variety of markets for volatility. Let’s examine the Gold Market this morning ahead of the Jobs announcement.

Nadex offers binary options on a variety of indices, commodities and currencies with varying time expiration. Here we see a chart of the Gold contract, which is based off the April COMEX/NYMEX® Futures price, as of about 8 a.m. ET this morning. Along the right axis are some of the binary options available that expire at 1:30 p.m. ET today, leaving almost 5.5 hours.

Friday Jobs Number Binary Gold Trades

Whether you’re bullish, bearish, or market neutral there are trading opportunities for all methodologies in binary options. What kind of risk reward are you looking for and what kind of movement are you anticipating in Gold today before the 1:30 p.m. ET expiration?

If you’re looking for Gold to continue its decline you could sell a binary option, and if you expect Gold to bounce you can buy a binary option. What strike price you choose depends on your market bias and expectations.

If you’re looking for a good risk vs. reward trade one possibility would be to buy the >$1,204.10 binary option for $23.25. You would be risking $23.25 for a maximum profit of $76.75. If you decided to make this trade you would be risking $1 for every $3.30 of potential profit. Gold would have to move almost $8 from its current trading price of $1,196.70 to be a successful trade, yet that’s why you are getting such a nice risk vs. reward.

One the flip side, if you were bearish and looking for Gold to continue its recent pullback you could sell a binary option. If you chose to sell the $1,190.60 binary option at $72.25 you would be risking $27.75 for a maximum profit of $72.25. You would be risking $1 for every $2.60 of profit. In this case Gold would have to move down almost $7 from its current price.

To see for yourself the types of defined risk trading opportunities on the Nadex Exchange open a demo account today and they’ll provide you with $25K of practice funds to experiment with before investing any of your hard earned real cash. There is plenty of uncertainty across the world right now, and that uncertainty could provide for fast move in currency markets. Be ready for the next great currency trade by opening a Nadex account today!

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