Engulfing Pattern Binary Options Trading Strategy
This binary options strategy is a price action strategy based on the engulfing candle pattern. Engulfing pattern is a reversal pattern that can be bearish or bullish but depends on whether it appears at the end of an uptrend (bearish engulfing pattern) or a downtrend (bullish engulfing pattern). The first day is characterized by a small body, followed by a candle whose body completely engulfs the previous candle’s body.
This method works on forex in any currency pairs. It also works on indices. Thi system is applicable in a 4-hour timeframe and has an expiry time at the end of the day.
Metatrader Indicators:
- Pattern Recognition Master ( setting: Engulfing Pattern),
- KDJ indicator.
Call Entry:
- Engulfing Pattern (L.E).
- KDJ indicator with the red line above blue and green lines.
Put Entry:
- Engulfing Pattern (S.E).
- KDJ indicator with the red line below blue and green lines.
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