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Using Pivot Points to trade Binary Options


Has anyone here used Pivot points to trade Binary Options?
I have not but I can take a guess as to the most effective way to trade them would be.

I would guess that the most volatility in the binary option price would be around the strike price so that would be where the pivot points would be most effective. I would pick a strike price at which the underlying security opened at and then observe the support and resistance at S3 and R3.

I've never traded binary options to the above is speculation...
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