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
- Dismal U.S. Durable Goods Report to Spark EUR/USD Rebound September 28, 2016A marked slowdown in demand for U.S. Durable Goods may spark a near-term rebound in EUR/USD as signs of a slowing recovery drag on interest-rate expectations. […]
- Slowing Canada Core CPI to Foster USD/CAD Rebound September 23, 2016A marked slowdown in Canada’s core rate of inflation may spur a near-term rebound in USD/CAD as it puts pressure on the BoC to further embark on its easing cycle.
- Hawkish Fed, Dovish RBNZ to Fuel Risk for NZD/USD H&S Formation September 21, 2016Growing bets for a Fed rate-hike paired with dovish comments from the RBNZ may trigger a near-term reversal pattern in NZD/USD amid the deviating paths for policy.
- FOMC to Echo 2015 Rate Path; USD to Take Cues from Fresh Projections September 21, 2016The fresh projections from Fed officials may heavily influence the U.S. dollar outlook as the central bank appears to be following a similar path to 2015.
- Strong U.S. Consumer Price Index (CPI) to Tame EUR/USD Resilience September 16, 2016A marked pickup in the U.S. Consumer Price Index (CPI) may undermine the near-term range in EUR/USD as it boosts bets for a Fed rate-hike.