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Following the rally toward 1.2838, the currency pair was seen stalling. In the near term, we expect to see a pullback. Therefore, we are looking to purchase daily PUT options in USDCAD at 1.2820 for a 21:00 GMT expiry time.
We expect that USDCAD is most likely to post a correction to the downside and thus close lower on the day.
We can see some signs of weakness in EURJPY. The currency pair was continuously falling in February and March and after failed to make an inverse head and shoulders, it is now moving in a rising wedge pattern, which is also a sign of exhaustion. Therefore, we would purchase daily Put options at 132.30 for 21:00 GMT expiry, as we expect EURJPY to close lower on the day.
To make profit, we need to trade smart. The Marubozo strategy is simple but that doesn’t mean it is easy to make profit. First, you need to learn to identify trends and then wait for a confirmation candle that will eventually tell you the price is in strong momentum and the trend will continue.
Before you start trading 5 minute binary strategy, you have to accept it will not give you 100% ITM signals. You have to approach trading with lower expectations and follow real action on the charts to build knowledge.
The ADX-based trading strategy is a simple intraday system, it is ideally used by day traders. Because we combine the concept of the previous day’s high and low and then take the position of the breakout from these levels using the ADX indicator, traders can rest assured they are entering into a position when the trend is starting to become strong.
By analysing price action, traders can benefit as the chart patterns can signal a potential reversal to the trend and open positions accordingly. That the reversal patterns can appear in any time frame suggests they can be used by both swing traders and short-term day traders.
As the price action patterns are formed across multiple time frames, traders can take advantage of the continuation patterns and either day trade or swing trade, depending on their preference. In most cases, the continuation chart patterns can be expected especially after a strong move by the markets.
Trend lines and price channels are two simple ways to trade corrections or breakouts in the trend. Remember, this would ideally be a counter-trend trading. While there are always risks involved, traders can capture profits quickly and efficiently on the forex and crypto markets.
Some of the best forex brokers regulated by FCA (UK) and ASIC (AU) deliver currency pairs and cryptocurrencies, including Bitcoin, Litecoin and Ripple. The brokers offer traders direct access to the interbank liquidity. Traders can speculate on the forex and crypto markets by using leverage up to 1:1000.
Ayrex binary broker uses new technology software that increases trade execution by up to 0.028 seconds and offers up to 90% payouts on successful trades. At the same time, the broker runs automatic withdrawals thus providing a fair environment for all traders.
Finmax is currently offering only binary options products, but the company aims to also add forex trading and CFDs in the near future. Thus far, it offers some interesting features, such as Social trading, which allows users to copy trades from the top traders on the platform.
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First things first, the binary options industry is not an “ideal world”. Sorry to burst your bubble, but this industry is not free of scammers and people who are just hunting your money under the guise of being your friends.