Trading binary options demos using support and resistance
Disadvantages of this tool It is simply not possible to be accurate every time when drawing this information onto your charts. This is true whether you use automated software or create the points manually. The indicator sees these points on a chart as constantly moving and, therefore, will draw several lines where someone who creates the points manually will simply draw an area of resistance or support.
Of course, the more you become aware of this fact the easier it is to adapt your strategy accordingly. Advantages The tool provides you with a reference point for your resistance and your support points.
Not only is this essential to good trading, it is also an excellent way of you improving you r understanding of this technical analysis. The tool can simplify your need to it as part of a successful approach to trading. Ultimately you will find that the indicator is of little use as you will correctly locate the right levels yourself. It is important to note that this is a tool to help you trade; it is an excellent way of checking that the trade you intend to place is accurate; you should never use this indicator by itself as it will not provide enough understanding of the market to allow successful trading.
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Is it a signal for Put option deal? No, because there is no evidence of level breakout, nor rebound. We are still waiting for the next hourly candle closing. Then we see that the next bullish candle also does not give us a clear signal. It is only after another hour, when we see that the market determines the direction bearish candle with a long body.
At the close of that candle, traders should buy a Put option with expiration time of hours. Unfortunately, support and resistance levels do not always become an insurmountable obstacle for the price.
Very often a breakdown of these levels occurs. Rules for trading at the breakdown level are similar to that on the rebound, but in this case we are waiting for the signal candle to close above the resistance level. It serves as a signal for Call option buying with the same expiration term — 3 or 4 hours. It is also important to remember that when you open a transaction on the rebound or breakout of important price level, there are other factors affecting the price, such as technical trend lines, reversal patterns, continuation patterns and fundamental ones.
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