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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

01 - 05
August
weekly
forecast
01 - 05
August

S&P500 Monthly: growth without active ADX. This could mean a lack of bullish potential. Weekly: an ambiguous picture. Bollinger bands are curved with the northern orientation, whereas ADX/RSI can be treated in favor of the opposite direction. Daily: local resistance is at 2203.1 (upper

2016 EURUSD GBPUSD USDJPY
05
August

Daily chart: the pair is aimed at the upper Bollinger band (1.1205), and the movement has no trend signs Н4: around psychological resistance 1.12 we notice a bearish pattern Over&Under. You can put sell limit orders with a stop loss above the recent highs. Н1: at this local level we see the

Daily chart: the pair has predictably remained within the flat trading range inside Bollinger envelopes (1.2950-1.3392), having bounced off the upper Bollinger Band. Н4: at the local level the price is concentrated inside the bottom envelope (1.3067-1.3242) Н1: magnetism from support 1.3067 (the

Daily chart: yesterday a false upward breakdown of the inside bar was received. In the middle of the bottom envelope is not the strongest setup for trading. But we have what we have, therefore, the main expectation is a drop in the direction of 99.62 (the bottom Bollinger band) Н4: a better shape

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August
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