As we said in the third episode of technical analysis, using trend lines in the world of binary options is one of the most fundamental and most reliable methods. This morning I made two lovely trades, let’s analyze them together.
For these trades I used the broker Stockpair, because of it’s expiration time of exactly 15 minutes, which no other reliable broker provides
Trading USD/JPY option
Probably the first thing I will explain is what indicators I used. The first is, of course, Bollinger bands – gray lines. Then, marked with the letter C and D supports and resistance lines. Pink lines are the trend lines that I had drawn, and the blue vertical lines I used to indicate the open and expiration times.
First I drew the trend lines. I drew them on M15 timeframe, which is one bigger timeframe, than the one where I was looking for trades (M5). From point A, I led (drawn) the ray to point B.
Fig. 2 is with the timeframe of M5. At the point where you can see the first vertical blue line, I noticed the rise of the price over the TL followed by a correction. Roughly in a half of the bullish candle, I opened a PUT trade for 15 minutes. The investment paid off and $53.4 were in my pocket.
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Trading EUR/JPY option
I think, that the next trade does not need any comments. 🙂