Categorized | Binary Option Indicators

Good Binary Option Indicators to Use

If you take a look at your trading chart be it on oil, currencies or stocks, you will see that the price are always moving in the form of waves.

This wave like movement is created due to the existence of support and resistance levels. When the price hits a strong support or resistance level, it will usually get repelled by it and trading the repulsion of these levels can be very profitable for a binary trader.

However the problem that most binary traders are facing is they do not know how to identify a strong level of support and resistance. Therefore in this post, I am going to share with you several indicators that can be very useful in binary option trading.

1) Fibonacci – The Fibonacci indicator is a very strong support and resistance indicator as it is an indicator that is widely used among institutional traders. Many time, you will find that the price get pushed up after it hits a major Fibonacci support or get pushed down after it hits a major Fibonacci resistance.

Fibonacci

As you can see from the picture above, the price of EURUSD get pushed up by the Fibonacci support. However I do not advice you to enter CALL (HIGH) option simply by seeing the price hitting a Fibonacci Support as there is an entry condition and techniques to use this indicator in order to capture more winning trades.

2) 200 EMA – The 200 EMA is another very strong support and resistance indicator that you can use. As can be seen from the picture below, the price got pushed down after it hits the 200 EMA.

200 EMA

However there are also times where the price did not get repelled by the 200 EMA and the key here is that you have to know which EMA is good enough to repel the price and which are not.

200EMAb

3) Bollinger Bands – The Bollinger Bands is another good indicator that the price will respect. In case you do not know what Bollinger Bands consist of, it has a Upper and a Lower Band which serves as a support and resistance level.

You will find that the price get repelled by these level and I am also using this indicator in my binary option strategy due to its effectively. However if you think that it is just as simple as entering an option based on the repulsion of the price, you will be wrong. In fact, I have written a post on this topic before and you can read it from the link below.

/does-repulsion-of-bollinger-bands-really-works-for-binary-option/

The above 3 indicators are very useful in helping you identify levels of strong support and resistance. However the key now is for you to identify where the exact best time to enter a trade for these levels is.

If you are thinking that you will enter once the price hits one of these levels, then you will get into trouble. I will suggest that you test out each indicator and who knows you might formulate your very own profitable strategy which is what I did several years back.

What I can advice you is to do some back testing first before you used this indicators in your real trading.

I understand that there are a lot of lousy courses that do not work as I had bought several of them in the past when I am new to trading.

Therefore for those of you who are still struggling in your trading, you can consider taking up my Binary Option Mastery course which comes with a 120% refund policy to take the risk off all my students. This is the best I could do for you guys.

Click Here To Learn My Binary Strategies

 

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