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Fri Apr 6 Tokyo: July edited July in Binary Options Strategy. I will probably post some about Binary Options and Spot here and there as I notice good setups and trades. It particularly caught my eye and Should i trading binary option or forex factory began to read the thousands of posts from day one up until now. The core of the system is un-altered but I wanted to share and see if anyone wanted to try this with binaries.
I will attach the indicators in a following post. Dean Malone developed the TDI, but with this method there are several things removed from the original indicator. Green crosses red on the TDI and is heading up with a sharp angle think of the face of a clock, if the angle is in the 12pm — 2pm positionand PA agrees on the first or second candle of the move, enter the trade. Green crosses red on the TDI and is heading down with a sharp angle think of the face of a clock, if the angle is in the 4pm-6pm positionand PA agrees on the first or second candle on the move, enter the trade.
This only applies to Spot trading and not binaries since they have a fixed expiry. Now what Should i trading binary option or forex factory explained above is basically the core method, and some discretion needs to be used which is why I mentioned PA price action.
For anyone new to this method, every single cross of the TDI will not result in a winning trade. Now to integrate this with Binaries, I think that if you look at a higher TF such as 30M and see a setup, zoom in to the lower TF such as 5M and look for a setup in the same direction to enter the trade on a 30M expiry.
Price action is waves inside of waves all the way up to the highest TF, so naturally if a higher TF shows a solid move then on the smaller TF you will have more obvious pullbacks that you can watch and wait for the continuation.
The attached screenshots show where a Short put trade would have been taken. The entry is shown by a red vertical line on the 30M TF and when you zoom in to the 5M TF you will see you should probably wait until price starts to move again before you enter a Put. Screen Shot at 6. During the evening if I trade, I usually focus on Spot Forex because if I see a setup on a much higher timeframe, I will usually set the trade with a stop loss at the most previous price swing point and go to bed.
I usually do this with the 4H timeframe that way when two more candles develop and show up it will be morning time so when I wake up I can check on the trade.
Usually I will exit before I go to work, as I cannot monitor the trade throughout the day. As we all know or should knowif you look at a higher timeframe than the one you are entering your trade with, you will get a better idea of what direction price is heading. If the highest timeframe shows a bullish move, I guarantee you every time frame below it will be bullish overall.
The point is, if you trade in the direction of the higher timeframe price direction, your probability of having a winning trade is much greater. Focus on going with the flow if you are just starting out. Counter-trend trading should come later when you are more comfortable and accurate at entries and be fully aware that you are in a counter trend trade.
Counter-trend trades should be watched like a hawk for a sign of continuation so you can exit. The TDI indicator had an excellent crossover and the Stochastics was heading down, which confirmed my thoughts on where price was heading. If you look back at the overall trend you also see price is bearish, so this also adds to my trade. As I said earlier, I let the trade run all night, and when I woke up I checked again and exited my trade before I left for work.
Another reason I exited because if you look back in time around January of this year, price showed a significant support level and price bounced away from it, so price was likely to do it again.
If you look at the 4 hour TF, I was correct that price would should i trading binary option or forex factory off that significant historical support area so it was a good idea to exit before I went to work. You can find the indicators by googling them, as i cannot upload MT4 files here.
Screen Shot at Has anyone tried this out for themselves? Hey everyone, i made one BO trade this evening. I originally saw the move on the 30 minute chart so i zoomed into the 5M chart to look for an entry. The rules of the method were met, green crossed red at a good angle about 1pmthe Stochastics were heading up to add confluence.
I entered on the second blue candle and not too long afterwards price had a small retrace then it took off again. The reason i had confidence should i trading binary option or forex factory this trade is because i had an entry signal on the higher TF and the lower TF. It's should i trading binary option or forex factory simple as far as the method goes.
There's not a whole lot you have to consider for an entry. Price didn't do much for the previous several hours, so a large bullish movement like that had some momentum with it. If the market is moving in a direction with decent sized candles, it will likely continue for some time.
With the signals from this method, you should be able should i trading binary option or forex factory catch some of should i trading binary option or forex factory move early on. I have placed an arrow on the chart to show which candle i entered on, and as you can see, i could have added several other call trades as well in this move to maximize profits. I wish i had been at the computer the whole time, but i was eating supper. Oh well, you cant catch all the moves. Please keep posting your progress.
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