Hello everyone! Im newbie here, and im still looking for good strategies to start.. After of couple of months of unsuccesful trading with news based strategies and end of day ones, i found the one that fit me well. This is how i feel it, tell me if im wrong.. It's based on extremely simple 60 minute trading strategy using so called "Indestructible" indicator. The trading strategy utilizes following the trend which is always a big plus when trading binary options. when the Indestructible trendwinner is green, i only look for calls and when it’s red i look for puts. As an additional confirmation, im trying to utilize an ADX indicator and only trade when it is above the 19 level. I, however, believe this additional confirmation is unnecessary.
The setup is two consecutive one hour candles/bars the same color as the indicator line followed by an exact entry is the beginning of the third bar/candle. The expiry is 60 minutes but the strategy can be used on higher time frames also; if using 4 hour candles for your entry, the expiry will be 4 hours too. The two bars must be in "slope" or trending somewhat strongly before make the trade, to see price moving up strongly for a call and vice versa for a put. And don't enter if price is just stalling or moving in a range. This strategy works for me, but only in a trend. What do you think about it? I can attach an example of a few winning trades utilizing this strategy.