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Presented method is the method of technical analysis, which statistics of accuracy is within the range of 60-70%. It is based on three key indicators (Bollinger bands, ADX and RSI) as well as on price levels and price action signals. Analyst Alexey Panasenko is the method's author.

Forex Technical Analysis: Trend potential

Forex technical analysis helps to answer the questions: How to interpret Forex rates? Buy? Sell? Close a trade? Take profit or let it run for some more time? Will it face reversal or go trhough correction? Accept a loss and “flip over” or wait for some more time? Finally, how to define Forex trend?” All these questions drive a trader (mainly beginning) crazy, if he does not know the answer. By the way, who will dare to claim to know the answer? Forex exchange rates are cruel towards one's self-confidence and arrogant manner.

Nevertheless, it is subject to regularities and daily techical analysis forex. There are plenty of strategies on Forex trend lines. We are not so much interested with the direction of fx rate along major lines (this is interesting too, though) as with the Potential of the Forex trend. The main purpose of our Forex technical analysis report named "Potential of Trend" is to find if current price goes through correction either we face a trend.

Example of Forex technical analysis


Daily chart: the day was closed with bearish inside bar that tells us about the conservation of southern potential. Bollinger bands are also widened in favor of short positions, but the support area is very close (1.0854) and oversold very significant. H4: there is a localized resistance at 1.0921

Daily chart: the pair continues to consolidate in the middle of the Bollinger envelope bottom (1.1871-1.2544). We still believe this trend to continue, but consider the general southern direction, which can be implemented at any time due to the increased activity of ADX. H4: there is a horizontal f

Daily chart: the upper Bollinger band continues to aspire in the direction of 105.60, keeping the general northern potential. But ADX is adjusted, which usually means multi-directional movement. H4: there is a local horizontal corridor within the Bollinger envelope (103.29-104.30). ADX is rising, b


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