Technical Analysis Details
Seventy Forth session - PFOREX Assist Tutorial
Welcome back to Forex professional training.
In this session we will review;
- The technical analysis specifications and elements
- Provided trading strategies
Traders with any trading preferences and techniques can find the most favorite technical analysis from multiple strategies.
From the menu side bar, Technical Analysis can be selected. Then the provided analyses will be sorted based on the generated time. Various categories are provided on the top side as well. Clearly, if you want to see all the analyses you can select “ALL”, otherwise you have to find your favorite strategy such as Candlestick, Elliot Waves, Andrew’s Pitchfork and Harmonic;
The generated analysis includes the following information:
- Small image
- Trading strategy
- Time & Date
- Status (generated, open, expired, analyze, profit or loss)
- Current & Future trends
Whenever an analysis is generated it may have a bell sign or analyze status. The bell sign shows that the analysis is just generated and will have other status open, expired, TP and SL status.
An analysis will be in expired status if it does not meet the entry price until certain time after it is generated. When an analysis is in Open status, it means that the analysis just met the entry price. TP indicates that the price hit the target price after it is generated. In case that the status is SL, price has hit the Stop Loss price.
Trader can turn on notification alert by turning on the bell sign of a favorite analysis to receive any update in status of that analysis. If the analysis is in Analyze mode, it doesn’t have other status hence no notification alert.
There are wide range of symbols across major financial markets to meet all trading preferences. Traders can select limited number of desired symbols based on their PFOREX Member plan to receive the generated analysis and signals. The symbols can be selected inside the setting section with two options, Notify and Show. Notify will determine the received notification alert on that certain symbol or strategy.
Trend shows the current direction while the signal indicates the anticipated direction. Quality shows the strength of that analysis based on the strategy and pattern conditions. Each category includes various strategies.
Candlestick contains various patterns as follows;
For further information and description on candlestick patterns, you can study the Candlestick courses in our educational section.
Classic Chart Patterns
The Chart Pattern section includes;
Profound educational courses with various examples are available inside the educational courses.
Elliot Waves list has 6 different strategies that are made up of Elliot Waves, MACD, RSI, Stochastic and Candlestick patterns;
- Elliott waves & MACD phase
- Elliott waves & MACD Line
- Elliott waves & RSI
- Elliott waves & Stochastic
- Elliott waves & Turning Point
- Elliott waves & Candlestick patterns
The generated analyses will be described thoroughly but you can study prerequisite information regarding Elliott Waves in our educational courses
Andrew’s Pitchfork analyses are generated based on 4 different strategies as follows;
- Trigger Line
- Median Line
These strategies will be described later but traders must have required knowledge of Andrew’s Pitchfork pattern.
- Complete set of strategies from Harmonic patterns are provided as follows;
- 5-0 pattern
- AB=CD pattern
- Bat pattern
- Alt Bat pattern
- Butterfly pattern
- Cypher pattern
- Crab pattern
- Deep Crab pattern
- Gartley pattern
- Shark pattern
- Three Drives pattern
Each one of them has specific structure and characteristics that are described in our courses.
Divergence strategy shows divergence or convergence in a price trend by the help of indicators and oscillators such as RSI, Stochastic and AO. For more information you can go inside the educational section and find profound information regarding Divergence.
- Detailed information on the Technical Analysis section
- Developed strategies for generated analyses
- Technical Analysis components and elements
You can download PFOREX Assist app on App Store and Play Store to receive these signals instantly, however I have to insist that all the services provided PFOREX are as information, not as suggestion nor advice.
That concludes this session, until next time and another session, take care.