Rekon's Binary Option Trading with M15 Chart

Ya the Daily and M15 templates are different. Sorry bro, I am not with the terminal at the moment. Tell me for which instrument you need Daily Analysis, I can show you with some other Tech, if require.

Hi Rekon,

Right now I am in the office (nightshift) and was going through your daily steps one by one. Copied it in the word file and printed it. Will do some obserervation tomorrow on daily charts. I am not in hurry for the daily template, Take your time and if possible PM me your daily template. FYI - I am also from Bombay. Nice to have you as friend. Good wishes.....

Bomi

Alright! Will send you that. TC.

i definitely agree with you, 15minutes charts is not good for price actions as it respects what higher time frames says. will post a chart soon to back this up

Hows your trading going Bro? All ok?

seems no entry for me

hopefully yes. but still having some problems

okey. Trade with a free mind, if something bothers then share, if I can help.

Still not receiving any entry, will try again in US session.

Important Reading ****

With Market Scanner, you can perform this very important observation of how the market is doing just before US open, and what it is doing after 30 mins or 1 hour of US open.

If you find a particular instrument or a group of instrument continuing the same trend then it is very easy for you to select the direction of your trade.

If you now closely view the Fib points posted on the above chart and Tally RekonX. You will see price is on the pivot before US Open, so we will see after this retracement, if US start buying G/U in first hour, Price is very likely to climb higher for the session.

DCC on U/J

Notice the Volume spike on E/U and how the 3 Filters opening up.

Still not getting any signal from equities, so I guess I will wait for another hour.

Opened trades for forex

All won.

First and foremost, i will like to say i am not very good at having too much indicators on my chart as the affect my judgement. my most powerful indicator is the WICK( candle wick). It tells me with 80-90 percent accuracy what the next candle is likely to do as far as my setup is available. wick is a session of indecision in a lower time frame represented by the higher timeframe. lets take a good analysis at the usd/jpy chart to see why i disagree that a put will not have been the best option. I have posted a 1H,M30,M15,M5 chart so u can understand me better.
On the one hour chart, u will notice the following
a) Area of interest (1), meaning, despite the strong down trend, the was an indecision(retracement) in the last 15-30 minutes of the previous 1H candles, this gives us a clue that the signal candle will also have an indecision at the buttom(retracement). if u have been playing with candle wicks, you will understand what i mean.
b)Area of interest (2). weekly pivot was just there waiting for price.

30 minutes charts is a smaller representative of the 1H candle and it is broken into two. lets see what happened there
a) Area of interest (1). the last 30 minutes candle of the previous one hour closed bullish giving us a clue that the next candle may have a retracement(wick) and it may close bullish as well making put option not ok.
b)Area of interest (2). just as earlier stated, a bullish retracement may take place due to the previous candles formation and if it does, it will occur in the last 15 minutes of candle.
c)Area of interest (3) price is nearing weekly pivot.

15 minutes candle is a smaller bro to the 30 minutes and the 1H candle and it is broken down into 4 candles to form one hour candle. lets see what happened there cos this is were the battle is taking place.
a) Area of interest (1). in the last 30 minutes of the signal candle, the first 15 minutes was suppose to go down(bearish) for the last 15 minutes to go up(bullish). but that did not happen. so since the first 15 minutes candle went up instead of down, the last 15 minutes will close bearish. BUT NOTE, we are still expecting a retracement of about 8-9 pips and that will happen in the last 15 minutes since the first 15 minutes violated the setup. The first 15 minutes candle did not go down for the last 15 minutes to go up, So therefore, last 15 minutes will have to go down and up to complete the retracement. so putting that candle for 15 minutes and above was not a good option to me for the following reasons
1) a retracement was expected in that very 15 minutes candle
2) it was near weekly pivot meaning it could retrace any time
3) it was way in oversold meaning a retracement is most likely to occur.

5 minutes chart, ouchhh, i love it cos it tells me wen to buy and sell. lets see what happened there.
a) the area marked 1 is the last 15 minutes of that candle. there you can clearly see how the last 5 minutes candle went 9pips bullish to create the much anticipated retracement.
b) the area marked 2 is the first 15 minutes of the 30 minutes candle that was suppose to go down for the last 15 minutes to go up(retarce).

If you ask me, how would you have traded that setup, since you know that a retracement will occur in the last 15 minutes,and for that to happen, the candle must go down and come up, this is were the 5 minutes charts helps you. since I don't know what is going to happen, i.e if it will come down then go up or if it will disobey the setup, i usually wait for the first 5 minutes candle to close and this give me an idea of what may happen next since nothing is certain in forex. As clearly seen, the first 5 minutes of the last 15 minutes went bearish and crossed the MA giving me a clue that the next 5 minutes will still be a bearish candle and a bit longer than it, so i will put that candle for 5 minutes. If this comes out as planned, the i know for sure that the next 5 minutes being the last for that hour will be 8-10 pips bullish so that the can be a retracement. So i will buy that candle for 5minutes. But if the first 5 minutes candle closed bullish, or bigger that 12pips, i will not take any actions. better setups ahead. dollar is expensive to dash your broker. To back the decision to call the last 5 minutes, u can see that the 55 minute candle couldn't break the weekly pivot giving me a strong reason to buy the last candle. I hate trades that exceed one hour candle, that is like calling a trade for two hours or from the begining of one hour candle to the end. nahhh, i go inbetween the fight(candle) and comes out before i'm hit. like i said before, nothing is sure in forex.

The brokers are making thing hard as the offer low percentage for retracement.

I will come back to you bro, it took a while to read all, overall my view is your analysis is correct.