A forex star is a trading robot or software that opens and closes trade positions in the forex market using indicator signals such as buy at support levels and sells at resistance level that allows the capture of a huge rate of market movements. This forex star platform has the ability to close positions by taking profit and stop loss using new trading signals appears in the forex star adds orders. When an opposite signal appears and if the trade is in loss, the forex star robot opens opposite trade orders while if the signal is in profit, the forex star closes the opposite trade order. This forex star robot adjusts using two forms of star charts which are the morning star and the evening star which are either bearish or bullish.
MORNING FOREX STAR
A morning forex star is a bullish candlestick pattern that consists of three candles, the large red candlestick, the small bodied candle and the large white candle. A morning star signals a change in trend of a currency price from bearish to bullish. They are used by traders as an early indication of a reverse in downtrend. The pattern is used in the identification of trend changes especially when used in conjunction with a technical indicator.
In forex trading, they are basically two forms of analysis which are the fundamental analysis which relies on a business performance in other to provide updates on a stocks future performance and a technique analysis which relies on bearish or bullish price patterns that provide sell or buy signals. These technical analysis is used to identify patterns like the morning star.
EVENING FOREX STAR
An evening star contains information on a stocks open, high, low and close price over a period of analysis. Each candle stick in the evening star consist of two different wicks. The length of the candle consist of a price high and low within a given period in time where a short candle indicates a small change in price and the long candle indicates large change in price. This means that long bodied candle sticks of an evening star indicates an intensive buying and selling pressure while that short bodied candle sticks of an evening star indicates little price movements.
BENEFITS OF A FOREX STAR
A forex star automatically analyzes the market and gives vital information in form of charts on currency and price movements, trends of a future trade and sends buying and selling signals. By proving this information, it aids a profit maximization and risk managements. It also engages in providing stop losses for a forex trader by providing up to date information on the forex market at large.
In conclusion, forex star trading systems is one of the best platform that engages in an accurate fundamental and technical analysis of the forex market their by providing real time date for forex traders for their daily forex trading.
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