When looking at USD/CAD, I saw a Buy opportunity. In daily time frame we can see higher high and higher low. Price also crossed the 200 MA. Which clearly indicates it should go up.
In 4 hour time chart, stochastic indicator is heading upward. Till last week USD/CAD was looking bearish. But from this week it is in upward trend. Price above 200 MA is also correlating with daily time frame.
Conclusion:- As charts shows buy trade in USD/CAD for Forex traders. I trade binary options and looks like it will stay well above 1.31799 for the end of the day( 23:00 GMT). So I am going to place a call trade here.
Please share what you think of it.
When it comes to trading... I'm clueless and looking at these charts only scares me away more. maybe you should offer some sort of comparisons for us simple minded steemers so we can understand what your trying to explain.
I do see what you are trying to explain but I still have no idea how this would benefit me. consider this when writing your next one.
Where do you trade binaries?
And how do you like them?
Do you use them for a specific strategy that can't be accomplished with spot trading, or is it just a preference thing?
I've been tempted to dabble, but not sure how it would work in my risk management scheme.