[quote=ZagaEBaya post_id=1295502511 time=1675453645 user_id=4953330]
Hello guys, im interested in Binary Options and having been blowing accounts for a while, perhaps someone can look at my strategy and see if they can help make it more efficient.
1. S&R used is drawn on higher time frame i.e if im trading 30min, then i will look for S&R on 3hr chart or more..I also use previous daily,Weekly and monthly levels for S&R. I also use indicator i found on this forum for S&R zones.
2. I look at indicators which are mostly based on RSI to give an arrow signal,,there are about 7 of the indicators and I only consider a signal if it has 4 or more arrows
3. I use lower time frame to check for confirmations, for 30min trade i use 2min chart. I look at the price action at the level, im specifically looking for M/W formations
4. I check for candlestick patterns as well on the 2min chart, specifically engulfing pattern and 3 consecutive candles of the same colour. So in an M/W formation, the first top/bottom has to have a candlestick pattern and the 2nd top has to have a candlestick pattern as well.
5. After confirming all the above conditions i will enter a 30min at the start of the new 30min candle.
hello bro
these above rules are great analysis expect point 5. i don't know why you go back again higher time frame..
what is the expiry you took!! not clear.
you can use ema ribbon posted here and the rules..
viewtopic.php?f=578267&t=8474130
also use this idea
viewtopic.php?p=1295501796#p1295501796
rsi ma hl setting post # 1538