Binary trading price action strategy forex
If you work on two charts at the same time, one on H1 and one on M5 you can see when the price is moving towards one of the stronger resistance or support lines.
Watch the Stochastic and the clock to get a signal when the price is trending and seems to be moving towards a major resistance or support line. The timing of the signals is the most important part of this specific strategy.
So you need to look for a possible retracement when the clock is about to hit the hour or half hour. This means you could possibly have trade entries 48 times in each day, but the price does not always follow the pattern. This is where the Oscillator comes in handy as it confirms the oversold and overbought levels and also highlights potential resistance and support and gives you the actual signal.
The signals do not always follow the trend. Trading the retracement should happen when one of the resistance or support lines are reached and there is confirmation from the Oscillator. You can look at trading the retracement or work on the trend of the entries that occur once the retracement has taken place.
This strategy is not recommended for a beginner. There is a very short expiry and patterns are often neglected which could result in a bad trade.
A good market entry and relevant expiry is crucial to have a profitable trade and time is only one of the factors. Your email address will not be published. How to use our strategies from Best-Binary-Options-Strategy. I am nowhere near done reading them, they are huge books, and not the easiest ones on the shelf to read…..
Sometimes I have to re-read a page to grasp what was said, and I may read all three of these books over again just to let it sink in. They are hard to read, but they are the best source of what price action is to me. I will be applying some of the concepts from those books in my trading, and I will do it as I read the books, so bear with me it may take a while.
So lets have a look at what I did today, this is the first day I started trading since I stopped when the markets were getting a bit crazy and scarce. One thing I do not do is trade during December; everything just seems sporadic to me so I stay away. Plus it gives me time to focus on family and friends; otherwise my head is stuck in the books lol. Anyways I made four trades today, and three of them were ITM.
I have made a slight modification to my charting setup, nothing big really, just I changed and added an extra EMA to the chart. Once it reached it again I waited for some other form of confluence. We can see that the overall trend was down, and there was a bearish inside bar that formed after the candle that reached the EMA.
To help things out further the Value Chart was at the level which also signaled a possible overbought situation.