The binary options trading strategy is a popular trader’s tool that greatly simplifies the work and allows you to achieve good results in the trading process. Trading techniques are simple and clear, using their signals correctly, a trader can significantly increase his profitability.
The binary strategy “Rhombus”, based on the signals of the graphic figure of the same name (pattern), is a non-indicator trading system (that is, indicator signals are not used here), it is quite popular today, its signals are reliable up to 93% and guarantee high profitability from online trading.
Features of the binary strategy “Rhombus”
It is possible to detect a diamond pattern on the chart when the price begins to update the highs, while it is not able to carry out an abrupt breakout. A price peak slowly appears on the chart, then the price begins to decline. The figure resembles old, gentle mountains, but if you carefully draw the resistance line along the highs, and the support line along the minimum points, you can clearly see the figure of a rhombus (or diamond, which is the second name of the binary strategy):
In the case of a falling trend, the diamond pattern often appears when the bears, playing for a fall, have exhausted themselves, but can still maintain price lows. After the peak is passed, these lows, becoming less “low”, create a support line that rushes upwards. At this point, there is a trend change on the upward trend. The “Rhombus” strategy itself largely boils down to seeing the moments of trend change most accurately and having time to enter the market after the pattern is broken.
How to trade using the “Rhombus” strategy?
It is better to work on a binary strategy using a timeframe from 1 to 4 hours, because Such time intervals will allow you to see the most reliable information about the nearest reversal. The strategy works great with intraday trading.
Options for trading: Classic, Out range, No range, One touch.
Expiration dates: varied, but it is best to use the end of the trading session. At the same time, for short periods of time, the strategy often shows not a reversal point, but a continuation of the trend. The larger the timeframe, the longer it will take for the diamond itself to form. Working on five-minute charts, it is very easy to make a mistake in the forecast, because The signals here are unreliable.
The main thing in the trading system is to wait for the appearance of the figure, because It is still rare on the chart, so high-speed trading will be ineffective.
Signals of the binary strategy “Rhombus”
The “Rhombus” binary strategy is quite easy to use, it allows you to trade in the direction of trends. Having found signs of the formation of a diamond pattern on the chart, you can safely open options.
Buying a CALL option
To buy a CALL option (up), a trader must wait for the moment when a diamond pattern forms on the chart in a downtrend. Then it remains only to wait for the closing of one candle outside the figure and you can buy the option up:
Buying a PCI option
To buy a PUT option (down), a trader must wait for the moment when a diamond pattern is formed on the chart, but already on an uptrend. After waiting for one candle to close, you can enter a trade:
Conclusions on the strategy
Speaking about the effectiveness of this strategy, it should be understood that the diamond figure is not formed often, but the high reliability of its signals allows a large number of traders to work on it. It should also be noted that “Rhombus” is one of the most powerful among similar trading models. For productive trading, you should carefully work with it on the demo account of a binary options broker (the current rating of binary options brokers is here).
Strategy “Rhombus” at the broker Binomo
In order for the binary strategy to bring you a stable income, choose only reliable binary options brokers for work, for example, the Binomo broker. Its main advantages: terminal functionality, advanced settings (chart types, adding indicators, a large selection of options, expiration dates, etc.), convenient withdrawal of funds, promotions – all this makes trading binary options with Binomo very profitable. Get to know the reviews of real traders about Binomo, as well as take part in an active discussion of traders here.
A detailed review of the Binomo broker is here.
Go to the official website of the Binomo broker here.
In order to buy a
CALL
option in the Binomo trading terminal, follow these steps by going to the binomo.com website and preparing the option, indicating:
- Type of asset
- Expiration
- The size of the bet
- Forecast of quote movement: UP
- Click the “buy” button and follow the results.
In order to buy
a PCI
option in the Binomo trading terminal, follow these steps by going to the binomo.com website and preparing the option, indicating:
- Type of asset
- Expiration
- The size of the bet
- Forecast of quote movement: DOWN
- Click the “buy” button and follow the results.
Bonuses broker Binomo
One of the advantages of Binomo is the many different promotions and offers, which you can check out here. Working on the platform with bonuses, the trader not only gets a good chance of a decent income, but can also get the most out of trading faster.
The best bonuses of the Binomo broker
Binomo Weekly Tournament
Free tournaments from the binary broker Binomo are a unique opportunity to get real money without your own investments. They can be withdrawn in a convenient way or put into trade. Tournaments are held on Thursdays, traders with any experience who have a demo account with a broker can participate in them. The main prize, which is awarded to the winner with the highest profit during the tournament, is options in the amount of $ 150.
Participate in the Binomo tournament
