I went long for another trade today for Bank of America. The stock was doing well, and I made another decent return off of it using Binary Options and the end-of-day trade option. Yesterday's trade with the CAD/JPY also ended up being another win so I'm on a roll here with my system.
It's like a no non-sense system and deals with a lot of patience and basically, if I spot any uncertainty then I'm not pulling the trigger for a trade. The Bank of America trade was actually sort of an accident, I meant to make a trade for Boeing- they both have similar stock symbols but when I looked at the chart for Bank of America, it looked like I made a healthy choice.
I was looking at the price level, and there was definitely room for it to move more upward without too much struggle until it would reach the area to retest for resistance. What I noticed with my indicators is that for the 4-hour chart, the price had not yet passed a moving average to confirm it as a bullish market. It did on my 1-hour chart though, so it might something to consider in that I could have a stand-alone system using the 1-hour chart.
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