Parallel Channels Forex Binary Options Trading Strategy For MT4
The Parallel Channels Forex Binary Options Trading Strategy For MT4 works well because it uses strong confirmation tools to give directives for reversal binary option trades.
This is a reversal trading setup which uses sound technical analysis tools such as the support-levels and resistance-levels to help traders leverage from high probable trade setups. It works best on the 15-minute, 30-minute, 60-minute and four-hour time frames. The general expiry time is set to four to five candlesticks after entry. However in the instance of the 15-minute, 30-minute and the four-hour time frames traders can even go as low as using three candles at minimum to a maximum of five candles as their expiry time philosophy.
There are a bunch of indicators - the first indicator is the Parallel Channels indicator. There is a stochastic indicator, a True Trend line indicator and another Parallel Channels indicator. The settings as specified should be kept as is and then the analysts just need to ensure they follow the rules and pull the trigger when all conditions are met.
Binary options trading is volatile - this cannot be overemphasized. It is in support support of the best interests concerning the trader to exercise proper risk and money management. Furthermore, it is also good to first go about practicing this strategy to get fully acclimated to it and develop a feel for market reactions. This is a reversal strategy in truth - knowing a few reversal patterns in unison with the strategy could serve the trader advantageously.
Though the complexity of this trading system is quite high - the rules pertaining to it are not so. For instance for the put entry - a valid setup happens when a price move has resulted in being located in the higher bands or above the Parallel Channels. The sell arrow has to appear as per the Stochastic indicator. Then the trader can enter at the opening of the next candle if a trend-line is above the sell arrow of the Stochastic oscillator. Then the exact same but opposite rules are applicable to call options.
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