Forex scalping eur usd dubai29 comments
Trading range binary options and the trading range
There is a lot of movement of all timeframes, which I experienced when trading this pair for short-term binaries in the past back when 24option accepted U. As such, if the goal is to find Fibonacci retracement levels that could be effective for trading this market, I would have to find large-scale high and lows that encompass price data.
During the summer of , price hovered around the Back in April I had a sell limit order set at However, I was wrong and this trade was quickly stopped out as price emphatically flew right through it. Once price settled above the My trade first triggered back in June and went in my favor, but the market still kept on coming back down to the A week later I manually entered myself into essentially the same trade actually a bit below the About a month later it hit my trailing stop for a pip gain, which is essentially negligible for long-term spot trades.
I got into a buy order trade at Like the previous two buy order trades at the I had my take-profit level set at However, I would later get rid of that and just use my trailing stops to dictate how much profit I would make. Hence, sticking with trailing stops is your best bet. The trade went in my favor much like the previous two trades. My first step is usually to place my trailing stop at break-even for any trade that goes in my direction.
I did this after pips was seen in my favor. Following this, on August 15 I set my trailing stop at On September 4, I adjusted my trailing stop higher to I adjusted this up again to My trailing stop was finally hit on October 4.
In just over two months, I had netted roughly pips from this trade after taking a net loss on my three previous trades after a relatively mild initial pip risk almost a 4: Fibonacci lines from the monthly and weekly timeframes work best. You might go months with price hanging between levels, so your trades using Fibonacci lines as the base might be infrequent, but if you play the trades right — that is, reasonably setting up stop-loss and take-profit levels and appropriately setting trailing stops as needed — they can be some of your best.