Website:Binary Options Daily Forum
“The inspiration for using this indicator comes from chris.r.floyd.
You can just read chris’ post to get the full instructions. But, to summarize, I load the indicator on a 1M chart and enter a trade when the price reaches the 161.8 fib level as shown on the indicator. If the currency pair has risen to that level, I take a Low trade to expire on the next 15-min. If the currency pair has fallen to the 161.8 level, then I take a High trade. If the signal occurs within the lockout period, I take the trade for the following 15-min expiry.
The indicator I am using is different from the one that chris.r.floyd is using. But, I think it is doing the exact same thing.
PLEASE NOTE:As you see on chris.r.floyds post about the 60-second system, the rule I am using for the direction of the trade is EXACTLY THE OPPOSITE of chris’ rule. Don’t mix them up. I am referring to the fact that under his rule for 60-second, he takes a High/Call if the currency has risen to the 161.8. I am taking a Low/Put in that situation. It makes sense that this rule would be different when you are trading on a 60-second window versus a 15-min window. Let’s not mix up the rules between these two similar but different methods.
1-2-3 MTF v3.1
- Slowing German CPI to Hit EUR/USD Ahead of ECB Meeting? August 28, 2015With waning market participation going into the month-end, a dismal German CPI print may drag on EUR/USD ahead of the ECB meeting amid the recent slew of dovish remarks.
- EUR/USD August Rally to Erode Further on Upbeat 2Q US GDP August 27, 2015The near-term advance in EUR/USD may continue to unravel should the preliminary 2Q U.S. GDP report highlight a stronger recovery & boost interest rate expectations. […]
- EUR/USD Bullish Setup to Shine on Weak US Durable Goods Orders August 26, 2015A marked decline in demand for U.S. Durable Goods may spur a near-term advance in EUR/USD as it dampens bets for a Fed rate hike at the September 17 decision.
- Robust Canada CPI to Fuel Larger USD/CAD Pullback- 1.2800 on Radar August 21, 2015A pickup in Canada’s Consumer Price Index (CPI) may fuel a larger correction in USD/CAD as it dampens bets for another BoC rate cut.
- Pickup in U.K. Retail Sales to Fuel GBP/USD Breakout August 20, 2015A meaningful rebound in U.K. Retail Sales may fuel the near-term breakout in GBP/USD as it boosts bets for a BoE rate hike.