The Principles of Intraday Forecasts
Based on "The Main Rules of Trading in the Financial Market", according to the analysis of higher time frames, "Weekly Forecast", and "Daily Trading Opportunities (DTO)", we first forecast the direction of the strongest movement for tomorrow. Then, considering the strength of the trend, we look for support and resistance in intraday time frames to determine the entry and exit points.
Intraday forecasts cover all components of a complete trading strategy, including direction, entry zone, take profit points, and stop loss points.
Example: The below analytic image of "this intraday forecast" is a simple example of forecasting which declares a rising direction by considering the direction of "this weekly forecast" and the strength of the trend, and "this daily trading opportunity (DTO)."
In this image, the low price two (2) days ago (1.3005) (S1) is suggested as the best entrance point. The lines R1, R2, and R3 are also treated as getting profit points. As you can see, with just a little knowledge about technical analysis, one can easily find all the technical reasons for all introduced support and resistance points in the image!
Be careful; according to the "main rules of trading in the financial market," you have to check "Weekly Forecasts" and "Daily Trading Opportunities (DTO)" first. Therefore you are only allowed to trade for some of the intraday forecasts!
However, many of our users ask for intraday forecasts for other charts to get help with their own strategies. For this reason, ForecastCity promises to present its forecasts for all charts daily, although some may not be in an ideal situation for trading!