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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

29 February - 04 March	weekly forecast 29 February - 04 March Weekly Review. S&P 500, Brent, Gold S&P500 Monthly: Bulls will close February more or less successfully, but I can not help feeling that the index is still dropping, cause ADX is getting more active. Weekly: resistance from the middle Bollinger band (1996.7) 1839.1 support (the bottom band). Daily chart: an evident bearish More
2016	EURUSD	GBPUSD	USDJPY
04 March	Buy to 1.0980 Daily chart: correction continues in the direction of middle Bollinger line (1.1066) but return in to 50% zone of bulls pin (1.0850) is possible. Н4: as we can see the support is more localizing on 1.8890 level (middle Bollinger line), from this level pair can start rising to 1.1086 Н1: local i More	We are considering sells in 1.4211 zone Daily chart: resistance from middle Bollinger line (1.4272) looks very strong so we are waiting for down pullback. Н4: support is on 1.4051 (middle Bollinger line), resistance is on 1.4272 (daily middle line). Н1: local levels of support\resistance are on 1.4149\1.4211. Expectation: growth to 1. More	Flat is into the range 113.35-114.01 Daily chart : we are observing price movement near the middle Bollinger line (113.60) within the wide flat range 111.16-116.47. Н4: local price is concentrated in the range of upper envelope 113.60-114.70. Н1: corridor is more localized into 113.35-114.01 Expectation: flat 113.35-114.01 Trading More
03 March	Accumulating northern potential	Buy from support 1.4014	Sell to 113.27
02 March	The flat day and corridor is 1.0850-1.0891	We can buy from 1.3915 level	Looking for entry points down around 114.36
01 March	Sell from 1.09	Correction to 1.43	Sell from 113.81
29 February	Sell to 1.0880	We are expecting new minimums of pair	Local bearish trend

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Forex Technical Analysis: Trend potential

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