Binary options signals are alerts or message which is used for trading binary options contract which has been derived after the analysis of information provided on a particular trade. The specifics will depend on the type of signal and the service being provided. There are various types of binary options signals, which are the following:
This is the most basic type of free binary signals. You are given a commodity, currency, or any asset. You are then asked to choose if the trade is high or low in the given time. You simply have to choose the high or low option, whichever you find best.
This is a different type. You are given an asset, and the question asked is different from high/low. For the given asset, you are asked whether the asset will reach a specific trigger point in the given time or not. The trigger point is indicated in the chart. Your chances of winning high are bright if the trigger point is at a suitable distance from the current price level.
Boundary or range trade:
This type of free binary signal involves boundary or a range to the trade. You trade in a channel or price ranges. Support and resistance decide the upper and lower trade limits. You can search about boundary trade and learn more about it. It is a tricky one, so a proper guide is essential.
Short-term binary signals:
These signals are also known as 60 seconds. Recent surveys demonstrate its popularity in the market. Its operation is the same as high/low. The difference is in the expiry time. You have to decide the value of an asset for the next minute.
This is a new type of binary signals, and the expiry time extends to days, weeks, or even months sometimes. Rest of the process is similar to high/low trade.
These types are important for you to understand if you want to trade at a better level.