Trading Signals Details
Seventy Fifth session - PFOREX Assist Tutorial
Welcome back to Forex professional training.
In this session we will review;
- The Forex trading signal specifications and elements
- Provided trading strategies
- Some useful steps toward higher success rate
The second section inside PFOREX Assist app is Trading Signal in which wide range of powerful and best trading strategies, more than 20, are developed to deliver highly reliable and prime Forex signals.
Traders with any trading preferences and techniques can find the most favorite Forex signals from multiple strategies. While some of strategies deliver reliable long term signals on certain symbols, other specific strategies may bring short term signals with high success rate.
It is highly recommended that traders watch the signals video tutorials before using them.
From the menu side bar, Trading Signals can be selected. Then the provided Forex signals 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 Forex signals you can select “ALL”, otherwise you have to find your favorite strategy such as Price Action, Bollinger Bands, Ichimoku and Pivot.
The generated signal includes the following information:
- Small image
- Trading strategy
- Time & Date
- Status (generated, open, expired, profit or loss)
- Current & Future trends
Whenever a Forex signal is generated it has a bell sign. The bell sign shows that the signals is just generated and will have other status open, expired, TP and SL status.
A Forex signal will be in expired status if it does not meet the entry price until certain time after it is generated. When a Forex signal is in Open status, it means that the signal 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 Forex signal to receive any update in status of that signal.
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 Forex 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 Forex signal based on the strategy and pattern conditions.
Each category includes various strategies.
Price Action strategy delivers unique signals from best trading patterns after they are formed successfully so this strategy has tremendous success rate. This strategy indicates the traders’ tendency change on reversal spot after the take profit price of a powerful pattern is touched by market price.
Advanced MACD is another strategy in which saturation, detected by an indicator or oscillator, is identified to be mixed with MACD indicator to develop a reliable signal. You can find profound courses in educational section to fully understand this strategy.
Bollinger Bands strategies are categorized into two classes based on the price trend movement regarding Middle Line or Bands. Hence there are two strategies that are made up of Bollinger Bands, candlestick patterns and indicators.
- Middle Line
- Bands Cross
The Ichimoku strategies helps traders to find continuation signals in symbols or assets in which price trends increase or decrease considerably with certain slopes. The best signals can be delivered when the symbol price increases or decreases sharply rather than oscillating inside a narrow channel.
The strategies from Ichimoku are as follows;
- Tenkan Kijun: This strategy is determined by the Tenkan-Sen and Kijun-Sen lines if they cross each other
- Senko Shift: The Kumo (Cloud) changes the phase after the Senkou Span A and Senkou Span B changes their position in respect to each other
- Kijun Cross: After price crosses Kijun-Sen under certain occasion then a signal will be generated
- Chikou Span: This strategy is specified by the movement of Chikou Span on chart price
- Kumo Breakout: This strategy is detected after price crosses the Kumo
- Combo: This strategy is the combination of all strategies from Ichimoku if they are generated concurrently
The Fibonacci strategies apply the Fibonacci indicator to generate reliable signals to detect reversal spots for successful trades. There are two strategies in which Fibonacci indicator is used with other trading tools like trend line and candlestick pattern.
The Divergence Base strategies are categorized based on the complementary trading tools alongside of the divergence in that strategy. The divergence is detected by the help of indicators and oscillators.
The Hidden Divergence strategies are also continuation strategies, in which various classes are determined by the help of other confirmations.
- Candlestick Patterns
- Classic Patterns
The pivot strategy with the help of divergence situation from indicators generates reversal signals.
The R strategy is classified into 3 types that are determined based on the reaction of price in regard to the major trend line.
- Type I
- Type II
- Type III
Before finding the most reliable strategies, traders must have profound knowledge about the trading tools, indicators and patterns. Then traders should apply the favorite strategies on demo accounts to gain required information and skills for full mastery over desired strategies. The video tutorials of each strategy and educational courses will help traders considerably.
- Detailed information on the Trading Signals section
- Developed strategies for generated Forex signals
- Trading signals 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.