Above/Below options are often confused with One-Touch options. However, they are completely different binary options, because One-Touch option assumes that profit will be gained at the price reaching the specified strike-level, while Above/Below options assume that the price must redeem the level preset to the options conditions.
This means that betting on Above option, the trader predicts that the price of the asset will fail to reach a quote level specified in the terms. When betting on Below, the trader predicts that the quotations chart should reach and redeem the price level specified in the contract.
The specified type of option is used in long-term and medium-term trading strategies, expiration dates on which are located in the range from 12 hours to 7 days, as well as in intraday breakthrough and indicator trading strategies, where lifetimes of transactions are in the range from 15 min. to 6 hours.
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