Trading around round numbers

One of the best levels of support and resistance are the round numbers or figures. Currently the closest examples are 1.2900 for EUR/USD, 1.6100 for GBP/USD or 106.00 for USD/JPY. Usually around the round numbers are clustered various orders and they provide us with good opportunities for trading.

Rules for trading

• identify the nearest round numbers;
• buy at the round number below the current market quotes, and sell at round number above the current market quotes. you can open your position via the 2B set up, or after a reversal candle forms;
• always place your initial stop beyond the round number.

You can also trade the round numbers with simple above/below binary options. In this case all you need is the price to stay above the round number.