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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 February	weekly forecast 13 - 17 February Weekly Review. S&P500, Brent, gold S&P500 Monthly chart: finally, ADX is growing. Considering strong bullish pressure another wave of mid-term growth might be expected. Now we need to trace market reaction on weekly upper Bollinger band (2342.3) Weekly chart: here we have aggressive trending ADX, that means that level More
2017	EURUSD	GBPUSD	USDJPY
17 February	Rise to 1.0770 followed by fall Daily chart: yesterday as had been expected bulls managed a very successful session in their favor forcing the price almost up to middle Bollinger band (1.0694). Now breakout of 1.0770 region would be appropriate, as we remember in this region there is an entry to bearish Over&Under pattern. More	Flat continues at 1.2450-1.2514 Daily chart: flat continues within narrowing Bollinger bands (1.2371-1.2653 range). Major price rotation region is 1.2477 (middle Bollinger band). Н4: more localized flat corridor is 1.2408-1.2536 (Bollinger envelopes range). ADX is weak and falling, so the price is not likely to go beyond specif More	Strong support level at 112.94 Daily chart: ADX doesn't support trend ambitions yet, so expected decline towards lower Bollinger band (111.73) is likely to pass without impulse movements. Н4: strong local support level is on lower Bollinger band (112.94). ADX is not active yet but keeps growing. That can cause further downward More
16 February	Trading bullish Over&Under!	Touch of 1.2546 expected	Entering down at 114.17 and 114.45
15 February	Sell again from 1.0597	90 pips for today trading	Drop from 114.57 expected
14 February	Bearish trend potential	Price rotation before big bearish O&U	Sell from 113.66
13 February	Technical contradictions between key time frames	Flat at 1.2445-1.2523	Drop to 111.57 expected!

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Forex Technical Analysis: Trend potential

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