Introducing Forecast Polls

Piptwitz has finally introduced the long waited tool “Forecast Polls”, a sentiment tool that delivers actionable price levels, not merely “mood” or “positioning” indications. This tool gathers opinions from a pool of thousands piptwitz traders and visitors who visit the site on a daily basis.

The tool consist of 7 pairs and one metal (Gold) which was added after many traders sending their requests, we will continue to add more instruments that have more demand.

Parameters

Currently the forecast tool covers three timeframes.

  1. Daily Bias
  2. Weekly Bias
  3. Monthly Bias

Our dev team is looking to dive even deeper to display what is also happening in the lower timeframes and sooner or later you will even have the ability to check what’s happening in the 1 Minute timeframes.

Should You Use this Tool?

Absolutely Yes!, the tools is working super efficient you can use it in whatever way it favors you.

The tool can help you:-

Build strategies upon prediction data: Find patterns data for instance if a trend is gaining or losing energy over the course of a month or a week.

Contrarian thinking: People instinctively follow the impulses of the crowd. Sentiment indicators, in turn, lead to “contrarian” thinking. You can read sentiment extremes and avoid being one of the herd. Contrast own opinions and price outlook with a group of leading trading advisors and money managers.

When there is deviation between actual market rate and value reflected in forecasted rate, there is usually an opportunity to enter the market.

We can’t wait to see how people will use this tool to develop themselves with their trading.

This Forex Forecast tool is a sentiment tool that highlights traders near and medium term mood. The Forex Poll is not to be taken as signal or as final target, but as a heat map of where sentiment and expectations are going.