Categorized | Binary Option Indicators

How To Trade Binary Using Doji Candlestick

This is another important candlestick pattern that you can use when trading binary option.

The doji candlestick is a typical reversal candlestick pattern which gives us a signal that the price is going to move back soon. The reversal may not be a reversal in trend as it can also be just a minor retracement of the price.

However for a binary trader, it does not matter whether the move is large or not as we just need the price to be 1 pip in our favor and we make a profit.

First of all, let me explain what is a doji candlestick looks like in case some of you here do not know.

The doji is simply a small body with 2 long wick at the top and bottom.

doji3

This candlestick is a sign that the price is going to move back. However it will be even better if this pattern is formed after the price hits a major support or resistance level.

Doji1

Doji2

In my live trading room, you will get to see how I trade using this candlestick at time.

For those of you who are interested to see how I trade, you can take a look at my FREE Live Trading Room where I will allow you to watch over my shoulder to see how I trade everyday and how I setup my chart everyday.

Click Here For My Live Trading Room

 

 

 

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