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Be on the lookout for rates to pull back (if only temporarily) when the lower panel oscillator makes contact with the top or bottom of the price anomaly channel at these (-1.68085 or +1.68085) levels (i.e., be ready to purchase binary option contracts of relatively short duration).

(Note that this tactic is usually going against the trend.)

 

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Thursday | January 26, 2023 | 11:00 AM PST

As of this morning, I believe I have established that the most profitable approach for me to use when trading binary options via the Deriv platform...

...is to plot my best "instantaneous" moving average on a one hour chart, along with my one-hour price range forecast envelope...

...and then project these measures down to my fifteen-, 5- and 1-minute charts to pinpoint the optimum levels at which to enter (and exit, when trading using a traditional broker) long or short positions.

 

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The moves that I interpret the daily charts as recommending I watch out for at the beginning of this week are as follows:

• AUDJPY to reverse direction and head south
• EURGBP MIGHT follow through on heading north
• EURJPY to reverse direction and head south
• GBPJPY to reverse direction and head south
• USDCHF to reverse direction and head south AFTER it climbs up to resistance, which is presently some distance away
• USDJPY to reverse direction and head south

It's beginning to look to me like when it comes to recognizing reversals in the overall direction of the currency pairs, what I need to do is wait for confirmation from the proprietary 24-hour measures, but PRIMARILY from the STANDARD 24-hour baseline.

Just after writing the above, I saw that EURGBP's standard 24-hour baseline appears to have just begun turning south. So, if the above is true, it should be confirmed by EURGBP continuing to head south for at least (probably) the first half of next week.

 

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POSSIBLE STRATEGY: If a given rate collapses at the start of the new 24-hour market cycle [as they often do] purchase a five-hour binary option in the direction of the hourly trend. (See how often this results in profitable trades.)

 

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POSSIBLE STRATEGY: If a given rate collapses at the start of the new 24-hour market cycle [as they often do] purchase a five-hour binary option in the direction of the hourly trend. (See how often this results in profitable trades.)

For you (me) to use these unreliable "automatic" strategies when you have the ability to trade based on trend direction and the location of candlesticks within typical price ranges (i.e., structure) would be silly—don't do it!

 

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Previously, NPP recommended abiding by the hard and fast Forex day trading rule of never trading against the 20-minute trend.

However, next week I plan to entertain the possibility that more important than trading in the direction of the 20-minute baseline is trading in the direction of aligned one-, two- and four-hour trends, entering positions on the "back" or "far" side of the 15- and 30-minute price range envelope(s) as dictated by the fluctuations of the five-, ten- and 13-minute baselines, and sometimes, even the 20-minute price range envelope (as opposed to the 20-minute baseline).

 

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Tuesday | January 31, 2023 | 9:17 AM PST

 

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NEW PSEUDO SWING TRADING STRATEGY

If I get a green four-hour candlestick anywhere in the neighborhood of 0.9129 down to 0.9071, I will be looking to buy a 12-hour USDCHF binary option call contract.

On the flip side, because the Aussie pairs (AUDJPY and AUDUSD) have pulled back to the upper region of the four-hour price range after turning south on Sunday (Pacific Standard Time), I will be waiting to enter short positions as soon as the four-hour trend lines are once again bearish.

 

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You made the pseudo swing style trades yesterday afternoon based on the premise that the nine-hour baseline was in "control" practically (or pragmatically) speaking. However, your reassessment after having evaluated the results in comparison with price action since then suggests that it is actually the three-hour baseline (2 hours and 47 minutes, to be more exact) that lets you know where price is likely to be in the near future (not to mention the the almost two-hour baseline) with the most immediate "control" belonging to the 40- (or 37-) minute measure.

So then, my "guess" is that your best "bet" is to wait for these three—the 167-, 110- and 40-minute measures—to be in sync with one another, and then enter short-lived positions when the 20-minute baseline reverses direction from a contrarian trajectory to a course that is aligned with these three slower measures.

 

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Based on the day-to-day trend, these are the pairs you expected to form green daily candlesticks: EURUSD, EURGBP

As of 11:52 PST, here are the ones that actually did so...EURSUD, EURGBP

Based on the day-to-day trend, these are the pairs you expected to form red daily candlesticks: AUDJPY, GBPJPY, GBPUSD, USDCAD, USDCHF

As of noon PST, here are the ones that actually did so...AUDJPY, GBPJPY, USDCAD, USDCHF

So then, only GBPUSD did not move as anticipated. (It reversed direction after the Fed interest rate decision.)