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Forex Binary Options Top Down Technical Analysis

In binary options trading, technical analysis is an analysis method for forecasting the direction of prices through the study of past market data, primarily price action.

Your main goal of technical analysis should be to identifying strong support and resistance trading levels. This is the most basic skill every price action trader must have. A powerful way to draw support and resistance zones on candlestick charts is to draw Fibonacci levels.

So what are the best forex trading strategies for beginners and professional traders to use to find strong support and resistance levels?

In this video I explained the correct way of plotting the best Fibonacci support and resistance levels on a candlestick chart you can use to find high-probability trade setups.

Combining these levels with FX Master Code's easy to read trading signals will help you trade successfully and make money trading forex and binary options.

Binary Options Signals After Bounce On Support Level

Doing some simple technical analysis like drawing Fibonacci retracement levels between highs and lows can increase your profitability a lot. Trading buy signals after a bounce on a support levels up to a resistance level is a very good strategy to increase win rate.

In the chart below you can see EURUSD on M1 time frame after a bounce on a Fibonacci 50% level (drawn on higher time frame). You have 5 buy long wins and 1 sell short win.
top down forex technical analysis strategies for binary options beginners

Binary Options Signals After Bounce On Resistance Level

You can also draw support and resistance lines on recent connecting tops and bottom on a higher time frame (if you trade signals on 1 minute time frame you can use 5, 15 minute or 1 hour time frame to find support and resistance levels), you then trade buy signals after bounce on support and sell signals after bounce on resistance.  

In the chart below you can see USDJPY on M1 time frame after a bounce on a resistance level (drawn on higher time frame). You have 2 buy long wins before the bounce on resistance and then 3 sell short wins after the bounce.
top down forex technical analysis strategies for binary options beginners
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Johan Nordstrom Trading Walk Professional Trader Risk Management
I'm a family guy in my late 20's who learned how to trade the markets in a simple yet effective way. During university I studied investing and graduated with a master's degree in risk management. Quickly, I realized that I was onto something. I started helping friends and taking students. My students started getting results, spent less time in front of their screens, and their accounts grew consistently. Learn more about me here.
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