Rekon's Binary Option Trading with M15 Chart

Quoting Emmpoli

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{quote} 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.

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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.

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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...

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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...

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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...

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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...

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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. {image} {image} {image} {image}

Quoting Cristiano76

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Rekon, Thank you, you are very good! I will try to use the 4H and let you know for the DCC. Also, can you send me your demo/indicator? Thank you Cristiano

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Quoting freedomfer

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Hi Rekon67!, About you last trade ( PUT AMAZON ), I understand the Market Scanner was in GREEN (Buy Strong), but 4 indicators were in OVERSOLD ZONE, so you decided to PUT AMAZON, but the strike price you entered was very near of a FIBO S2 LEVEL, so Do you think it was a risky trade? Thanks a lot in advance for your Help and your Effort for teaching all us!! Cheers!! Fer

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Quoting freedomfer

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Hi Rekon67!, About you last trade ( PUT AMAZON ), I understand the Market Scanner was in GREEN (Buy Strong), but 4 indicators were in OVERSOLD ZONE, so you decided to PUT AMAZON, but the strike price you entered was very near of a FIBO S2 LEVEL, so Do you think it was a risky trade? Thanks a lot in advance for your Help and your Effort for teaching all us!! Cheers!! Fer

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