Welcome to my Price Action Strategy video and blog post! This strategy is created for Pocket Option, ensure to check out my Pocket Option Broker Review for more information about this Broker! Basically, this strategy should work with almost any broker! First, take a look into this video, showing live trading using my strategy:
Attention: A strategy is created for a specific situation. This strategy for example works best in consistent trends and strong sideways markets (With a lot of movement). Depending on the tools you are using, you can apply this strategy to almost any market, as long as there is a certain market movement! Ok, let us take a look at the main idea behind this strategy!
Click here to see some trade examples with explanation!
Price Action Strategy for Binary Options
First, I draw trend lines (Inside Trends) or Support and Resistance lines (In sideways markets), depending on the market conditions! (Watch the video above to see how I draw a trend line inside an Upside Trend!)
Inside trends, you can use the Fibonacci Retracement in addition like shown inside the video!
When the Price touches or breaks a line, I use the RSI and Stochastic indicator to predict the next price move! Will it bounce back or breakthrough? (Stochastic should be in the <50 range inside an uptrend, and > 50 inside a downtrend! In a side trend, I recommend to wait till the 20 or 80 level is broken in trend direction!)
Keep in mind that this strategy should be traded with longer binary options, depending on the time frame you are using to analyze the market! If you use 1 Minute Charts, I suggest to trade 3 – 5 Minute binary options! If you use 5 Minute charts, Trade 10 – 15 Minute Binary Options and so on! Here is another video showing my price action strategy in another situation:
Attention: Always trade inside a demo account for some time first! It is important to learn when to trade this binary options price action strategy and when to better look for another market! Click here to get your free demo account!
Follow this Blog for more information in the future! If you got any questions, send a PM through Facebook by clicking here, or leave me a comment below!