As we know, Binary/Deriv offers various types of markets to trade, for example, what we trade most often is the volatility index market. In addition, Binary/Deriv also develops other types of markets over time, for example Boom and Crash markets, as well as Range Break markets.
This is, of course, a challenge for us, as traders, to be able to analyze chart movements of the various types of markets offered by Binary/Deriv. We can use various techniques or methods, for example what I use are the Support and Resistance area technique, or Supply and Demand, or use indicators as signal markers, for example the cross of two or more of the Moving Average indicators.
Who is not familiar with Moving Average (MA)? The one million people indicator is often used by traders to filter out random price fluctuations on trading charts. In addition, MA is also a trend following indicator that is very simple and easy to use. Given this very flexible function, Open Position with MA has become commonplace among novice traders as well as professional traders. MA is an indicator that functions as a calculation of the average value of the movement of certain data. There are various types of calculating the MA value, including Simple Moving Average, Exponential Moving Average, Linear Weighted Moving Average and so on, each of which has its own advantages.
The open position I usually do in Binary/Deriv is when there is a crossover which is a method that is quite often used by traders. To be able to apply it, two MA indicators are needed at once. Commonly, I use periods of SMA-20 and SMA-50, SMA-20 and SMA-100, or SMA-50 and SMA-200. The entry method can be done when there is a death cross or golden cross on the MA lines.
If a death cross occurs (SMA-20 crosses from above to below SMA-50), then this could be a signal that a Downtrend will occur. You are allowed to place a Sell position. Meanwhile, if what happens is a golden cross (SMA-20 crosses from below to above SMA-50), then this is a sign of an Uptrend. You are allowed to place a Buy position.
On this occasion, let’s share about what techniques do you do to get profit? Are you using the same technique as me or do you have a different method?