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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

26 - 30 October	weekly forecast 26 - 30 October Weekly Review: S&P 500, Brent, Gold S&P500 Monthly:a very active movement up continues, but ADX/RSI contradicts that, which is interpeted by the system as preparation of "bull trap". I'm waiting for a turn down after touching the upper Bollinger band (2166.3) Weekly : similar picture - the upward movement takes More
2015	EURUSD	GBPUSD	USDJPY
30 October	Good chances for continuation of correction The daily chart: on the one hand - broken bottom Bollinger envelope. On the other - expressed bullish IB. This all suggests the possibility of a strong upward correction. Two areas that may be the goals of such a correction - 1.1110 (strong pivot zone) and 1.1216 (middle Bollinger band) Н4: in the More	Downward bounce is possible, but bulls are very strong The daily chart: Bulls are building the upward reversal for themselves: first, the Low at convergence, then a bullish rebound without working out of the bottom Bollinger band. Well, we have to see whether today buyers will realize the obtained potential. Closure of many bars today tell us about the More	Fifty/fifty The daily chart: if to judge about the future using ADX, the verdict is simple - no base for a further growth, not enough fuel. This means that the most likely scenario would be flat in the upper part of the Bollinger envelope (120.12-121.50) Н4: the same picture with more localized corridor 120.12 More
29 October	Looking for entry points only downwards	We sell from 1.53	Purchases from 120.58
28 October	News or techniques?	Key support - 1.5282	Purchases from the zone of 120.21
27 October	Flat as the main scenario	Day range 1.5312-1.5366	Meanwhile, we do not consider sales
26 October	Premarket review on the euro. Analysis of Friday's close	Premarket on the Pound. What we can expect on Monday	Premarket view on the Yen

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Forex Technical Analysis: Trend potential

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