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Pivots points and Fibonacci retracement levels can be particularly useful, just as they are on other timeframes while trading longer-term instruments.
Take trade set-ups on the first touch of the level. For those who are not familiar with the way I normally trade the minute expiries from the 5-minute chart, I normally look for an initial reject of a price level I already have marked off ahead of time.
If it does reject the level, this helps to further validate the robustness of the price level and I will look to get in on the subsequent touch. Expectedly, this leads to a lower volume of trades taken in exchange for higher accuracy set-ups.
To provide a baseball analogy, a hitter who normally maintains a batting average of. On the other hand, in that same span, he might hit. Continue to consider price action e. But without further ado, I will show you all of my second trades from Monday and I how I put all of the above into practice.
To avoid confusion, I will briefly describe each trade according to the number assigned to it in the below screenshots. On the first re-touch of 1. Similar to the first trade I took a put option on the re-touch of 1. This trade also won. A third put options at 1. This trade lost, as price went above my level and formed a new daily high.
Price formed a newer low at 1. I took a call option on the re-touch of 1. Basically the same trade as the previous one. Price was holding pretty well at 1. On a normal move, I would take a put option there, but momentum was strong on the 2: Several put options almost set up on the 1. So my next trade was yet another call option down near where I had taken call options during my previous two trades.
I felt this was a safer move as just half-a-pip can be crucial in determining whether a second trade is won or lost. Call option down at 1. However, the minute after this trade expired in-the-money, the market broke below 1.
This trade was a put option at 1. Nevertheless, this trade did not win as price continued to climb back into its previous trading range. I decided to take a put option at the touch of 1. This trade might seem a bit puzzling at first given a new high for the day had been established and that momentum was upward.
But by simply watching the candle it seemed that price was apt to fall a bit. Binary option graphs quebec Binary Scam Alerts. Charts Binary options trading strategies and indicators.
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