$350 profit from some simple market moves

This article was originally contributed by the archived community member Kostasze. We no longer maintain contact details for the original author. The content has been fact-checked and updated for accuracy by our editorial team.

Hi Traders,

In this article I will show you some screen shots and explanations for some trades of mine, last week.

As you can see I trade in a binary options exchange and I made about 350$ profit with some simple moves of the market which I will show you right now.  Let’s go to the first screen shot.

As you can see in this screen shot I took two trades (one put arrow and one call arrow). I took these trades with simple signs and with not much confluence based only in the trending market. I don’t do it many times. I usually trade with much confluence. We are in a down trend, notice that we have lower- highs, the price makes reversals in the trend lines which act as support and resistance. In the put arrow I took a put (I bought  a “5min down GBP/USD” contract) because the price was away from the trend line or the fibs important levels. So, I wait about three minutes and sell the contract before the expiry when price comes close to the trend line. (before the reversal).RSI was extremely over sold in this spot. I made about 30$ profit from this trade.

In the put arrow I took a call (I bought a “5min up GBP/USD” contract). I bought it about 68 Euro so my profit would be 100-68=32. After the reversal I was waiting for a mini- trend up and a high lower than the previous because we are in a down trend. The price breaks the cloud but the next candle was red. So, I was waiting. After that we have a small green candle and then a pull back. But, our CCI that time has crossed the zero level so after the pull back I bought the contract. The next candle was big and green which gave me a profit of about 25 euro some minutes before the expiry, a profit near to my max profit of the trade. So, the next moves of the price were in the direction I predict but I closed my trade early and took a profit of 25 euro(about 33$)

The current charts are 1min chart. If you are working in small time frames with short expiry times you must be very careful. I recommend for short term traders to analyze two time frames , the 1min chart and the 5min chart to have a general picture of the market and don’t trade against the general moves.

Best Regards,

Kostasze