It is the process of analysing the charts of a given asset that one wishes to trade in. This review is intended to determine an asset’s trend and can be carried out over a number of days or a couple of weeks or a year. The Top 5 Binary Options Beginner Tips recommends trend strategy for all South African traders wishing to engage in binary options trading.
A trend can be
An upward trend is also referred to as uptrend. This is a trend that displays a huge number of higher closing highs and higher closing lows. In this trend, the most dominant movements of the assets price will be upwards. Many traders recommend binary options trading during this trend. Look out for the Top 5 Binary Options Beginner Tips to know about other points to consider.
Changeable trends have no definite highs or lows. They loop from high to low. In this case, an asset does not show distinct directions. Such trends are also referred to as non-trending.
In downward trends, the prices of an asset have low closing highs and low closing lows. Though there will be a number of times when the price goes up and remains average at times, the most prevalent direction will be downwards.
South African traders are reminded that binary options trading can only be profitable when the prices of the asset in question show a vivid movement, i.e. uptrend or downtrend.