Frequently Asked Questions
LUCCRO is a decision support engine for forex trading that uses Artificial Intelligence and Pattern Analysis to identify low-risk, high-reward opportunities for the traders.
LUCCRO serves as the eyes of a trader in a 24×7 market in order to detect patterns of interest that can provide trading opportunities.
LUCCRO uses Auto-charting based on technical analysis, Strength analysis and Sentiment analysis as three tools consolidated to form the Luccro platform.
LUCCRO automatically generates pattern detection signals that be used for placing buy or sell trades.
LUCCRO data scientists have analyzed thousands of charts to locate some rare patterns available only within the LUCCRO platform. These are placed in a category called “Wick forming patterns.”
Technical analysis is based on detecting historically occurring patterns and associating them with future price actions. While no future market action can be guaranteed, the probability of history repeating itself is expected to have higher odds than the reverse. By properly controlling their risk, traders can expect to win in the long run.
Technical analysis can be useful for all time frames – short and long term. It’s because the pioneer analysts were long-term traders and investors. So, it can analyze both – from one minute to weekly and monthly charts. The Luccro engine utilizes 15, 30, 60, 240 and 1440 minute charts.
The overall attitude of traders toward a certain security/asset is called trader sentiment. It is the general market tone, feeling or crowd psychology which can drive the price action.
Understanding crowd psychology can provide an advantage in trading. Sentiment analysis is based on the overall market feeling and attitude toward risk.
Fibonacci retracement is a highly useful indicator in securities trading. Traders employ fib ratios to determine retracement and predict the level of pull-back and/or correction. The ratio can be applied to predict the length of a counter trend.
Data Visualization tools help the users understand large sets of data and identify the common patterns. It also allows the location of patterns of interest in an easy manner, thus allowing the trader to concentrate only on his or her own areas of interest.