Duxon's Archive

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Sunday Morning / August 22, 2021

For a cleaner looking chart, delete these two envelopes and just use the trend lines instead...

And replace these envelopes with the 75-minute and the two-and-a-half-hour temporal support and resistance measures...

The result is a chart configuration you will probably enjoy using this upcoming week...

 

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POSSIBLE INSIGHT:

When the four-day baseline is parallel to or to the outside of the 12-day price range envelope at 1.40% deviation, you are looking at monster momentum driving the day-to-day trend.

 

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Monday / August 23, 2021 / 7:40 AM PST

My hope is that next week, I will continue to repeat the kind of performance achieved with these last nine trades without any addition modifications to my charts whatsoever.

Thanks be to God, it all fits perfectly together now, from my daily charts down to my one-minute charts...

.......Shangir-La​

 

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I have undertaken a serious attempt to learn coding using whatever relevant lessons I can find provided at no cost online, at this point, by Jim Hodges, and even more so, by Orchard Forex. Accordingly, this morning I began theorizing on what automated arguments to use for entering and exiting positions, and thus far, I have the following three or four criteria I believe might have some degree of validity...

 

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This morning I began theorizing on what automated arguments to use for entering and exiting positions, and thus far, I have the following three or four criteria I believe might have some degree of validity.

This is an attempt to depict the above-mentioned arguments graphically in the main chart window. I am likely to experiment next week with using this configuration as an aid to trading...

I have undertaken a serious attempt to learn coding using whatever relevant lessons I can find provided at no cost online, at this point, by Jim Hodges, and even more so, by Orchard Forex.

It looks like the majority of the videos from Orchard Forex are going to be presented by Arthur McAlister

 

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Based on your detailed analysis of price action in light of the manner the above chart configurations interpret the way price behaves during periods of low liquidity/volatility, you concluded that EURAUD was "destined" to fall from 1.6136.

It happens that this is the way things actually unfolded, but it took 2 hours and 3 minutes for the rate to drop the two or three pips to hit my take profit target.

Continue to evaluate whether it would be better to execute such trades upon the reversal of the orange histogram (where you inserted the arrow) and whether binary option trades based on this strategy should have a one-hour expiry.

This next trade was based on the same strategy...

This trade only took seven minutes. And by the way, do not use the orange histogram, because with this strategy, position/location/structure is the most important factor.

 

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According to the chart configuration that appears in Post #595, the yen pairs I follow are all currently trending south. I need to wait for a pullback, however, to enter a position via a traditional broker. But, because a change of a fraction of a pip is enough to result in a profit when trading binary options, I purchased an AUDJPY put contract with the expiry set 15 minutes away, figuring this would give the pair sufficient time to drop.

As it turned out, this trade was just barely in the money at expiry. In this case, half the time, about seven minutes, would have been a better choice...

AUDUSD is not trending. So, based on position/location/structure, I would like to see the rate fall from where it was when I purchased this contract. But thus far, it is not being at all cooperative...

I should have been more alert, realizing that the yen pairs had reached the bottom of the 50-minute price range and therefore had an augmented probability of turning north, pressuring AUDUSD to turn north with them, which is almost sure to be a losing trade now. Past observation suggest to me that the yen pairs should continue heading north for some time, so my plan is to give EURJPY an hour to climb high enough to close in the money...

Ultimately, AUDUSD did drop, but it was too late to do me any good...

 

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Ultimately, AUDUSD did drop, but it was too late to do me any good...

I thought I could catch AUDUSD on the way back up, but the markets are TOO dead right now. I lucked out and was able to recover most of my loss from earlier, but I need to suspend trading as soon as EURJPY closes until activity picks back up with the London session.

EURJPY needed almost the entire hour to pull this off. No more trading for me now until the European session begins...

 

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Monday / August 30, 2021 / 7:35 AM PST​

From my perspective, it does appear possible to trade binary options profitably on a consistent basis, though I can't speak for any other platform or outfit outside of Deriv.com.

As of this morning, I am granting the designation of key moving averages to the 6-, 13-, and 21-minute baselines. Here, these three measures, in combination with the 50-minute price range envelope, suggested that AUDJPY would have one last (short-lived) bullish hurrah before reversing south...

On the other hand, they suggested that USDCHF, a trade that is still in progress, would recover from this pullback to continue a prolonged trek north...

Close observation and subsequent results seem to bear out that these four measures have a great deal of validity and reliability in terms of predictive qualities when it comes to intraday trading.

 

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Basic intraday trading concept