Currency Pair
This is the currency pair to which the BeoForex signal applies. This will often be either a major or minor pair. However, the algorithm will always make sure that members are informed whenever it discovers a chance in the exotic currency space.
Forex Signals
The algorithm's findings are briefly summarized in the forex signals. To put it another way, this serves as the foundation for the BeoForex signal that you will afterwards trade. The indication in the example above notes that GBP is significantly overbought on the RSI (Relative Strength Index).
For those who don't know, one important technical indicator used by traders is the RSI. This helps the algorithm as it searches the markets for trading opportunities, along with hundreds of other cutting-edge charting tools. Subscribe to our forex trading signals now!
Entry Price
The most effective trade entry point will also be determined by the BeoForex algorithm. The signal in this instance advises placing a sell order on the GBP/USD pair around 1.3560. The trade becomes live if the price is activated.
Stop-Loss Price
One of the two exit prices offered by the BeoForex signal is this one. The price at which the trade will be automatically closed if the signal's forecast is incorrect is referred to as the stop-loss price.
It is crucial since it guarantees that your losses are always minimized.
Take-Profit Price
Similar to a stop-loss order but in reverse, this works similarly. When a specified profit point is reached, for instance, the signal informs you of the price at which the deal should be concluded. As a result, you won't need to spend hours sitting in front of your computer watching for the trade to close itself.