Need more profit and Forex is closed? Trade 24 hours/7 days on cryptocurrencies
- VFX Blog
- Strategies
Hello traders! By opening a binary option, you can make a profit in a few minutes. But how to make money on binary options on holidays and weekends, when the currency and stock markets are closed? This is easy to do with cryptocurrencies that are available 24 hours / 7 days a week.
The COVID-19 pandemic has caused problems in almost all sectors of the real economy, prompting a surge in interest in alternative investment options such as digital money.
But, where are the guarantees that everything will not turn to zero, because most of them are provided only by marketing and optimism of developers. The most important question is what strategies to trade? Use standard tools or look for "author's techniques and binary option bot" worth a lot of money?
Let's look at several options for earning money on time-tested strategies, and also try to make a forecast for the first half of 2021 for major cryptocurrencies.
Bitcoin
Candlestick pattern.
Bitcoin is on the rise. A new historical maximum price has been set, sales volumes are growing on all exchanges, more and more institutional investors are considering the asset as an important part of their investments in 2021.
Bitcoin has been trading for a long time, candlestick patterns work well on it, which are recommended to complement exact binary option strategy based on technical indicators, as vfxAlert does.
Strategy characteristics
Type: Trend.
Timeframe: Any in the range M1-M5. In our case, M1 is used, but with an increasing period of analysis, the accuracy of the signal an increasing.
Trading asset: Any currency pair. The main requirement is a fixed (2-3 points) spread and no hidden fees.
Trading time: All Forex trading sessions.
Percentage premium option: Not less than 70-75%.
Ethereum
Moving Average and oscillator.
The main event of the New Year will be the start of trading Ethereum futures on the Chicago Mercantile Exchange, where it will be a real competitor to Bitcoin. The likelihood of the uptrend continuation is high; you can start looking for the move points for the CALL-option using trend indicators.
The strategy uses standard technical indicators:
- Three exponential (EMA) averages with periods of 10, 25 and 50. Determine the direction of the short and medium-term trend. On a flute with high volatility, you can use the price channel, inside which you can trade (at least 10-15 points wide). A breakdown will become a trade binary signal of new trend. This method is recommended only for experienced traders!
- MACD. This indicator works both as a trend and as an oscillator instrument, so it will be the final signal to open an option.
Binary signal:
- CALL-option. Price is above all Moving Average or breaks through "fast" EMA (10) from the bottom up. The MACD is green and above zero.
- PUT-option. Reverse conditions: price is lower than all Moving Average or breaks through the EMA (10) from top to bottom. The MACD is red and below zero.
Litecoin
Open options from channel border.
The trend will continue to move beyond Bitcoin with periods of sideways movement, where you can open trades from the borders of the price channel as shown below.
The strategy uses two technical indicators:
- Doncian Channel (DC) − the horizontal direction of the DC lines confirms the presence of a flat, the breakdown of center lines will be the binary signal of its end. If the range is wide enough, you can open options to roll back from the borders. This method is recommended only for experienced traders!
The Donchian indicator is not included in the basic set of binary trading platforms. But it can easily be found for free on the Internet.
- Stochastic − the oscillator will assess the current balance between buyers and sellers: the predictor above level 80 − the end of the uptrend (overbought), below 20 − the end of the downward (oversold).
On the screen binary option trading signals and open options when the following conditions are met:
- CALL-option. The price rollback from the lower limit of Doncian Channel or cross its middle line from bottom to top. Stochastic is up or out of oversold (level 20);
- PUT-option. Price crosses the DC average from top to bottom or unfolds from its upper limit. Stochastic is down or out of overbought (level 80);
See the situation on AltCoin and forecast for 2021 in our video.
Let's summarize:
- We earn money on cryptocurrencies 24 hours/ 7 days a week, when other markets are closed;
- Despite the small capitalization compared to currency pairs and stock assets, cryptocurrencies are a real trading tool that gives a good and stable profit.
- On binary option, you only need a minimum deposit. No matter how much cryptocurrencies are worth on the exchange, it is enough to make a correct UP/DOWN forecast and make a profit.
Stay with vfxAlert and profit binary option signals in the New Year!