This is the time line I was referring too. I've marked the period where you traded in RED. I was monitoring the 5MIN timeframe, although I did check higher timeframes for confirmation, and found that they looked pretty much the same.
Your help will be greatly appreciated!
that was a NFP day. the HOD had already been established when the figures were released. and it was a holiday as well.
i simply timed the ticks from 12pm EST onwards and a pattern was established. also given the NFP figures were not that good.
fundamentally the majors were pushing higher and higher or at least to retrace the HOD when the London session closed.
If u switched to 1M, you'll see the pattern formed.
it means the selected asset must touch the entered bid for it to be ITM.
this is under the TOUCH/NO TOUCH (TNT) trading features and this is specifically TOUCH "DOWN".
i'll do on a per requests basis, sorry. Prefer doing other stuff, u know what i mean ?
the trick is to realise which day or window of that day is viable for binary options trading.
and when that time come, u'll also need to decide (if u are with 24Opt) which trading feature is the most suitable for the prevailing market conditions.
all the best
There are 2 ways to trade in binaries. I am with 24Opt as well and use technical analysis tools trying to look for meaningful SR levels and play with end of day expiry. If am wrong there is a way and time to double bet in the opposite, if second bet is wrong again quadruple bet in other direction. Most often is only 2 trades the needs to be entered.
To do this you need to use strict money management techniques to achieve your goals.(Roughly each bet not more that 4% of your capital)
Example: buy EURUSD with 1000 euro on a strong support, if direction is wrong SELL EURUSD 2000 Eur if that support is broken, if direction is again wrong BUY 6000 Eur at next support level .all with end of day expiry.
Your direction movements are based on reaching meaningful Support or resistance values.
I am pretty consistent with this technique, I do EURUSD GBPUSD OIL GOLD and occasionally some stocks.
Second way to play like CherryCoke does using the shortest possible timeframe and placing the bet just 1 minute or less before close. She is not using I think indicators to trigger the trade but just as confirmation background. What triggers her trades I think are only patterns. If she can establish a pattern with highest possible frequency, using the 1 MIN charts, just looking at those ticks, then she can decide on the direction of trade and which instruments to play in 24Opt (High/low, touch/no touch).
Is a fire and forget technique, not possible to salvage the trade. Like me she mostly uses currencies and oil.
She is pretty consistent.I still need to try it.
Maybe she can shed some light on how she establishes a pattern (just visually and for what period or maybe she using some algorithm to do that like an EA used in Metatrader).
Cherry the answer to you if I am right on pattern recognition.......
Actually there are many sophisticated software for pattern recognition (of any kind)....
Here is my trade om April 4 on EURGBP. 3 trades at BUY on 3 different support levels.
My acccont has grown very large ( I started 4 months ago with 20,000 eur + 10,000 eur bonus and 4% more on each win as platinum account.
Tale of the day was Eur 20,400
I only trade 2 or max 3 times a week using this technique. Here is an example when twice the market moved against me but eventually got it at last support.