In the video below I showing a trade using my favorite Broker Pocket Option!
My Trading Decision explained As you can see inside the video, a strong downward trend started in the past. I ´ve drawn the Fibonacci Retracement from the starting point to the end point of the first trend move.
The Price already reversed and started the price correction The move against the trend till he touched the 61st Fibonacci level! This is the point where the trend move starts again!
It would have been a good entry point, but at this time I was not online! In an upward trend, the Stochastic and RSI should be in the opposite extreme, near 20 or An additional good sign is the candlestick you can see at the same time!
Inside an upward move, a long upward shadow and a short downward shadow as well as a small candle body are a sign for a move reversal and a starting downward movement! So all signals are showing a Put signal!
Make sure to look out for my next blog post showing the next trade I´ve done in this market situation! If you want to try this strategy yourself, I recommend to start with a free Demo account Click Stocastc rs bináris opciók mutatója till you got a feeling for the market and how it moves!
Also, read my post about how to choose the best markets for your strategy!
Resources: If you want to learn more about candlestick patterns and how to use them in your trading, I suggest to get the Candlestick Trading Bibleyou can read more about it here!