Binary Option Alliance

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The perfect trade

I often come across opportunities in the market such as this one and I thought Id share this one today.. I came across this opportunity in the USD/JPY market today and banked myself a nice profit.. check it out!

Once I’m confident of the trend I look for indicators/signals to know when to place a trade- in the image below I have highlighted these signals with a green arrow usd jpy

Once I’m confident of the trend, (which is determined by price action)  I look for indicators/signals to know when to place a trade (in this case i was buying a position)– in the image above  I have highlighted these signals/indicators with a green arrow. The white vertical line is showing the time of expiry, which I calculate by looking at recent swing intervals.

Proof, if you need it ;-P

proof

This a screenshot image of the email you receive from the broker titan trade.  If I was gonna fake this I would have put a higher amount XD..If you would like to know more about Titantrade, you can read my review HERE

Here below are some details on a trade I placed on the AUD/USD

aud.usd 6.10.14

 

 

aud.usd2 6.10.14

These trades were executed on the Titantrade platform which is one of my preferred broker platforms as they provide a wide range of assets and diverse expiry times.

You can also read my review of Titantrade here

 

4 Comments

  1. Hi Dean, could you possibly elaborate on the techniques you used to predict the trend? Also what charting software are you using?
    In my experience, indicators are lagging and do not provide reliable signals, how is it that you are able to use them so effectively?

    thanks in advance! keep up the great work!

    • Dean

      October 29, 2014 at 7:00 am

      G’day Daryl

      Id be happy to go into detail of what techniques I use to predict the trend. It is Called Price Action. Price action can be elusive to some traders as its basically an attempt to find order in what seems to most as a random movement of price. Swings (high and low), tests of resistance and support are some examples of price action. I’ve been wanting to do a training video on this to explain it in greater detail – just gathering up the courage ;-P

      Yes you are absolutely right, indicators are lagging and should not be relied solely upon to trade- however they do act as powerful WARNING signals that the market is changing direction or that the market is going to continue in one direction.

      Take a look at the trade above on the AUD/USD
      Notice how all the indicators were pointing in the same direction as my trade?
      That my Friend, is not luck or mere coincidence, Its taken me months to set up my charts and adjust my indicators to how I use them today.
      I spot perfect trade set ups like this one by switching to higher time frames (ie 1hr chart, 30 min chart) and looking for Strong warning signals such as the cross of 2 moving averages (paramaters- EMA 34 and EMA 8)(EMA= Exponential moving average)

      Another warning signal I use is The MACD. Which stands for Moving Average Convergence Divergence . This indicator dictates momentum- and I use it commonly on the 4 hr chart to see what the moving averages are doing, For Example- If the MACD lines are wide apart moving upwards- it indicates a strong Bullish tendency for the market. If the MACD lines are narrow or about to cross- this could indicate the market is about to change direction.

      Over all Price Action is King Daryl, You need to know if the market is making new highs or new lows in order to know where its going- Is the new high higher than the previous high? or is the new low lower than the previous low? Is the market going sideways? Is there a room for the market to move Up or down? if so- how much can it move before the next resistant level? These are the questions you need to be asking yourself while looking for a trade setup.

      Great questions Daryl- keep em coming! im sure everyone reading this appreciated your input!

      Cheers
      Dean

  2. That’s a really good example of a trade using indicators to signal your entry- I have been using a similar technique with good results. Glad to see I am not the only one benefiting from setting up charts in this fassion.
    Thanks
    Jon

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