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
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