Manual Support and Resistance Strategy for Binary Options

Bots take a break: the manual strategy I trade myself

There are no signal bots in this video. Nick shows the manual support-and-resistance trading he uses himself and, along the way, explains how the trade manager works and why a trader's journal matters. According to the manager's statistics at the time of recording, manual trading by these rules produced +$2,000 over 7 days and +$5,843 over 30 days. Below are the rules, the settings and a breakdown of the session.

Preparing the terminal

1. On a weekend the OTC assets are opened; the author keeps only currency pairs and applies the selection to every screen with a mass action.
2. The chart is zoomed out to see levels and zones rather than the last ten candles.
3. The trade manager is started: without an active session trades do not reach the journal and no strategy statistics accumulate.

Session settings from the video:

Two indicators

Zone colors in Average Support Resistance:

• red — resistance, where price may bounce down;
• green — support, where price may bounce up;
• blue — a level that has already produced a bounce: the reaction is confirmed;
• grey — a past or mirrored level.

A level is a zone with a margin of error, not a line: the indicator averages several points and price does not have to reach it exactly.

Entry rules

• Enter on a bounce from a zone with a confirmed reaction. The more touches, the stronger the level: the author counts a level from three points.
• Enter from a trendline. If a sloped line runs through three or four points, the current touch is a reason to open a trade in the bounce direction.
• Broken resistance becomes support. After a breakout, a trade opens from the same level in the breakout direction.
• The trend is checked on three timeframes. M15 first, then M5, entry on M1. The higher timeframes give the direction and the nearest levels; if price sits on a level on M5, the author does not enter on M1 and waits for a pullback.
• 1-minute expiration, entry with a new candle.
• Against the trend only in exceptional cases: when the level is blue and a trendline is nearby.

The session from the video

1. A sell from a blue level against the local trend: two touches in the past and a third one now. The author prepares a recovery trade in advance. Win.
2. A buy from a trendline with three touch points. One corrective candle is enough and the trade closes as a win.
3. A series of three sells after checking M15 and M5: the first is a loss, the second recovery trade is a loss, the third from a small resistance along the trendline closes as a win in the final seconds. The author's comment: risky, lucky, but by the rules.
4. A buy from former resistance turned support, with a fourth touch of the trendline. A win in the last second.

Session result in the manager: 8 trades, 4 wins and 4 losses, +$377. The author stops without waiting for the 12% target: a few wins are in, there is no reason to sit longer.

The trader's journal

When a session is closed, the manager asks for a comment: which strategy was traded, what went wrong. Each trade can later be edited with a note about the emotion or the reason for the entry. The point is to open the session a week later and understand why a loss happened instead of reconstructing it from memory. The author used to keep such notes in a notebook; now the manager keeps them automatically.

Before you test it

• Weekend OTC means synthetic quotes; price behaviour can differ from exchange assets during the week. See the OTC article.
• Levels have a margin of error. Do not wait for a pixel-perfect touch: the indicator averages, and price may fall short or overshoot.
• Prepare the recovery trade in advance. In the session from the video the series reached the third step, and the author himself calls it risky: a win in the last second is not something to count on.
• Rehearse on a demo account. Learn to read the zone colors and trendlines first, then move to a real account.

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