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Forex Technical Analysis: Trend potential

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.

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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

13 - 17 June	weekly forecast 13 - 17 June S&P500, Brent, Gold: the weekly review S&P500 Monthly: ADX is developing, but the trend area has not been reached yet, so the situation can be interpreted in two ways. Weekly: a similar situation: ADX has entered the core area. But this activity can be attributed to the two camps: both bearish and bullish. Given the recent weekly p More
2016	EURUSD	GBPUSD	USDJPY
17 June	Drop to 1.1142 Daily chart: despite high volatility, the pair retains a horizontal range of 1.1072-1.1383, and taking into account lack ADX's activity, we can not yet rely on trend's distribution Н4: the same flat and better shaped corridor within the Bollinger envelopes 1.1174-1.1310. Н1: On the local level t More	Looking for buying options around 1.41 Daily chart: Bears have moved the Low down very well. Nevertheless, the number of bars outside of the envelopes do not allow us relying on a continued drop. Therefore, we are waiting for the start of correction to the middle band band (1.4468) Н4: consolidation within Bollinger envelopes (1.4095- More	Southern dynamics Daily chart: a very active ADX is likely to ingore some oversoldness, which will cause a deeper drop to 102.50 Н4: a similar picture: technical analysis predicts correction, but talking about it is too early, because the ADX is pressing and there are no signs of weakening. A potential "ceili More
16 June	Try to purchases to 1.1316	Two plans for today	Looking for the downward entry points
15 June	Key support - 1.1200	Expected bottom - 1.4014	Little lower
14 June	Falling flat	Finalization of 1.4089 followed by the upward bounce	Preparations for the new drop
13 June	Decline to 1.1100-1.1135	The upward correction is coming	Sell after a rollback to 106.88

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Forex Technical Analysis: Trend potential

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