Experienced traders who trade binary options through the Pocket Option broker terminal often use a signal called "Tweezers" to identify reversal points. It represents a situation where two oppositely directed candles with identical extremes form on the chart. For example, in a downtrend, the candles will share the same low. In an uptrend, the same highs are observed.
When trading on Pocket Option using this strategy, keep the following in mind: both closing prices and candle wicks are considered extremes. There is also another point worth noting. A "Tweezers" pattern can also occur when one or more candles with different parameters form between the two candles with matching extremes.
The key feature of this strategy is that the Tweezers signal is relatively strong on its own. Furthermore, when additional chart patterns form alongside the Tweezers to confirm the signal, its effectiveness increases significantly.
Also, keep in mind that you can start trading with additional funds by using promo codes to top up your account from Pocket Option, and to improve your results with this strategy, you can use a promo code to cancel loss trade $10.
Opening Trades Using This Strategy on Pocket Option
When following this strategy, open trades on Pocket Option under the following conditions:
- Two oppositely directed candles with identical extreme points must form on the chart.
- Once the Tweezers signal has formed, you can place a trade in the direction of the new price movement. That is, if the next candle opens upward, you should purchase a Call option.
Example of a Bullish Engulfing Signal
Because this signal is relatively strong, you can open a trade without waiting for a new candle to appear. This is especially relevant when the Tweezers pattern forms near support or resistance levels. That said, you may also wait for the next candle to confirm the signal before entering.
OPEN AN ACCOUNT WITH POCKET OPTION
Not sure how this strategy or indicator works? Leave a comment below, and subscribe to our YouTube channel WinOptionCrypto — we'll answer your questions in upcoming videos.
To leave a comment, you must register or log in to your account.