Pinocchio binary options trading strategy

Pinocchio binary options trading strategy

The profits extracting strategy is effective in more than one type of trading also because Pinocchio strategy can be used in either binary options trading or for trading currency pairs. Pinocchio candles can be easily seen on technical charts of both commodities and indexes and that makes them useful for placing trades that are profitable for. Pinocchio Binary Options Trading Strategy. This strategy is worked on a specific type of candle. A Pinocchio bar (aka Pin bar) had a long wick (nose) and a small body. The wick part becomes longer as a price goes in one direction and then retraces. Based on the length of the wick, the probability of the price going in the opposite direction becomes higher, proving that the original trend is. The Pinocchio binary options trading strategy is simple to apply and is a good choice for beginners who are looking for a rapid way of making money. This strategy is fairly simple as it requires only a basic market knowledge and no experience of analysing data with technical trading tools in order to get started. It is easy to spot Pinocchio.

Pinocchio Trading Strategy - You Don't Have to Lie for Profitable Trading

The same thing happens with the Pin bar: the wick becomes longer as price goes in one direction and then it retraces. The longer the wick, the higher the probability that price will go the opposite way and that the initial direction was a lie. This is how a bullish Pinocchio looks like:. At that time it looked like they are in complete control. Soon after, pinocchio binary options trading strategy, the bulls aka buyers, aka Call guys came in the market and took price higher.

The result of this behaviour is a long lower wick and a small body. The consequence of this behaviour is that often price will continue higher because this type of candle is a clear sign of rejection. The strategy consists of buying a Put if the wick is up and buying a Call if the wick is down. Support and Resistance, trend lines, overbought and oversold levels, divergence, confluence and more will come together to give you the results you are looking for.

Then you will take into consideration trend, ranges and all the other stuff. So the Pinocchio strategy is not very newbie friendly even if it looks easy enough in the beginning.

This one works in trending markets, assuming you only take trades in line with the trend and in ranging markets. This is of course an example for a bearish Pinocchio bar and the opposite applies for a bullish Pin. Well, my friends, did you ever got caught in a false breakout?

I know I did. No more: the Pinocchio strategy also helps us identify a false break of a trend line, a support or resistance level or a false breakout from a range. Even if in the first half an hour or so, price is strongly advancing above resistance, pinocchio binary options trading strategy for the candle to close pinocchio binary options trading strategy if the candle will become a Pinocchio binary options trading strategy by the end of the hour, it will more often than not come down some more in the next candles.

By waiting to see if the bar becomes a Pinocchio, you just avoided the false break and now you have a clear indication what the market wants to do. Nice going, Pinocchio! However, it is better to see confluence of several factors when trading this one, not just the Pinocchio bar. And always be aware that I have used it mainly for Forex, not Binary Options.

Choose wisely, according to market conditions, pinocchio binary options trading strategy, of course. For any Questions about Pinocchio Strategy visit our forum here. Why does the Pinocchio Strategy Suck? All Rights Reserved. Please be noted that all information provided by ThatSucks.

The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality, pinocchio binary options trading strategy. All information should be revised closely by readers and to be judged privately by each person.

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7 Binary Options – Effective trading strategy Pinocchio Binary Options Trading Strategy

The Pinocchio binary options trading strategy is simple to apply and is a good choice for beginners who are looking for a rapid way of making money. This strategy is fairly simple as it requires only a basic market knowledge and no experience of analysing data with technical trading tools in order to get started. It is easy to spot Pinocchio. The Pinocchio binary options trading strategy is famous for telling lies about the movement of the market. The Pinocchio or Pin bar is a candle bar with a really small body and a long wick. When the price of an asset starts moving in one direction, the wick of the candle gets longer, which is an indication that the market will likely move in. The profits extracting strategy is effective in more than one type of trading also because Pinocchio strategy can be used in either binary options trading or for trading currency pairs. Pinocchio candles can be easily seen on technical charts of both commodities and indexes and that makes them useful for placing trades that are profitable for.