ForecastCity is a web-based platform dedicated to providing comprehensive financial market forecasting tools and services, with a primary focus on forex (foreign exchange) trading. With the aim of assisting traders in making informed decisions, ForecastCity offers intraday forecasts that claim to be the most accurate in predicting market movements and swings. Covering a diverse range of assets, including forex charts, commodities, and cryptocurrencies, across various intraday time frames from 4 hours to 5 minutes, this platform caters to traders with diverse trading preferences and time frames.
Intraday Forecasts and Accuracy
At the heart of ForecastCity’s offerings are its intraday forecasts, which provide traders with insights into the most likely market movements. The platform claims to accurately predict the direction of the market in 80% of cases. Having real-time access to these forecasts through the ForecastFollow software, which is seamlessly integrated with the popular MetaTrader trading platform, allows traders to act promptly on the provided signals. This feature enhances the user experience and streamlines the trading process, making it more efficient and time-saving for traders.
The platform’s use of the advanced Stop & Reverse strategy to manage potential losses on days when forecasts fail due to unforeseen economic events showcases ForecastCity’s commitment to risk management. By implementing this strategy, ForecastCity provides traders with peace of mind, ensuring that even during challenging market conditions, losses are kept in check, making it an appealing choice for risk-averse traders.
Technical Analysis: Support and Resistance
ForecastCity places significant emphasis on technical analysis, with support and resistance lines being the most crucial elements. These lines are widely used in most trading strategies to determine entry and exit points. However, ForecastCity distinguishes its support and resistance lines from typical ones calculated using simple formulas like Pivots. Instead, ForecastCity’s lines are analyzed and calculated based on market trends and daily trading opportunities, making them more reliable and applicable. This unique approach can potentially give traders an edge in making well-informed trading decisions.
The support and resistance lines offered by ForecastCity are significantly different from the conventional ones, as they are tailored to the specific direction and strength of the market trend and daily trading opportunities. As a result, traders can benefit from more accurate and practical technical lines, enhancing their trading strategies.
Daily Trading Opportunities (DTO) Service
The Daily Trading Opportunities (DTO) service, powered by the intelligent 4CastMachine software, is another standout feature of ForecastCity. DTO identifies trading opportunities with a high probability of success for the next 24 hours, and its numerical calculation of trend strength and sorting of symbols based on trend power provide valuable insights for traders. By presenting the most profitable charts with a high likelihood of success, DTO streamlines the trading process, saving traders time on market analysis, and allowing them to focus on executing trades efficiently.
DTO helps traders optimize their profits while minimizing risks. By using the DTO service in conjunction with weekly forecasts and the Trend Hunter Strategy, traders can identify trends and trade based on a trend hunting strategy, aiming to maximize their profits while minimizing potential losses.
The Trend Hunter Strategy and Weekly Forecasts
ForecastCity’s weekly forecasts provide traders with a clear outlook on short-term trends, indicating the beginning, ending, and resuming of these trends. The “Trend Hunter Strategy” forms the basis for these forecasts, and they are presented in a daily timeframe to assist traders in entering new trends at the opportune time. This approach caters to traders with various strategies, as knowing the price direction in the coming days and weeks is essential for any trading approach.
Moreover, the inclusion of a MetaTrader Template with the weekly forecasts streamlines the implementation of suggested technical lines, saving traders valuable time and effort. These templates also offer transparency in forecast performance, as they consist of all trading opportunities from previous forecasts and their results.
Diverse Asset Coverage
One of the notable strengths of ForecastCity is its extensive coverage of various assets, including forex charts, commodities, and cryptocurrencies. This broad spectrum allows traders to explore opportunities across different financial markets and diversify their portfolios. Forex traders, commodity investors, and cryptocurrency enthusiasts alike can benefit from ForecastCity’s insights and forecasts tailored to their specific interests. The availability of intraday forecasts for multiple time frames further caters to traders with varying trading styles, from day traders to swing traders.
Backed by Historical Performance
ForecastCity’s claim of an accuracy rate of over 80% may sound impressive, but traders often seek evidence of past performance to validate such claims. Fortunately, ForecastCity has provided intraday forecast services for popular forex pairs since 2007 and expanded to cover commodities and cryptocurrencies from 2022 onwards. This long-term track record offers transparency and demonstrates the platform’s commitment to delivering consistent results over time. However, it is imperative to be fully aware that past performance is by no means any guarantee of what will happen in the future. You should never risk more than you can afford to lose as losses will happen with any trading strategy.
Conclusion
ForecastCity’s comprehensive financial market forecasting platform offers traders a wide range of valuable tools and services for navigating the complex world of forex and other financial markets. With a focus on accuracy, convenience, risk management, and technical analysis, ForecastCity aims to provide traders with a competitive edge in their trading endeavors.
While no forecasting system is infallible, ForecastCity’s claimed accuracy rate of over 80% and its implementation of the advanced Stop & Reverse strategy for risk mitigation make it an attractive option for traders seeking reliable signals and risk management solutions.
Traders should exercise caution, perform thorough analysis, and follow proper risk management practices while using any forecasting service. ForecastCity’s services can be a valuable asset for traders looking to enhance their trading strategies, save time on market analysis, and potentially enhance their success in the financial markets. As with any financial service, it is advisable to carefully evaluate ForecastCity’s offerings and consider personal trading goals and risk tolerance before incorporating its forecasts into one’s trading decisions.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
