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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

18 - 22 Abril	weekly forecast 18 - 22 Abril Weekly Review. S& P500, Brent, Gold S&P500 Monthly: a continued bullish movement without trend component (which is proved by ADX that is going through correction). The highest possible target area is represented by the upper Bollinger band (2154.5) Weekly: here, as you can see, there is very active ADX, that gives a chance for Mais
2016	EURUSD	GBPUSD	USDJPY
22 Abril	Unsafe flat Daily chart: a continued impulse flat inside Bollinger envelopes (1.1176-1.1463). So far, the indicator analysis (weak corrective ADX, flat Bollinger Bands) suggests that this trend will continue. Н4: we also have the flat range with the borders 1.1263-1.1387. ADX is rising, but it is in a non-tren Mais	Let's indicate the area for possible sales today Daily chart: very weak ADX parameters convey the buyers' inability to break above the upper Bollinger band (1.4441). We expect a downward roll back and short signals on younger frames, allowing to open sale orders today . Н4: the pair is clamped within the corridor 1.4274-1.4423. resistance 1.442 Mais	Multi-directional scenario with the bullish momentum Daily chart: the pair seems to have chosen the scenario implying a breakthrough into the upper envelope and, therefore, the medium-term growth target is113.92 (upper Bollinger band). At the same time, we can not "look behind" resistance from the middle Bollinger band (110.31), which, on the backgrou Mais
21 Abril	We are looking for buying options around 1.1345	Sales to the 41th figure	Looking down for growth signals
20 Abril	Looking for buying options around 1.1345	Rollback from 1.4431 and a break above 1.45 are equally probable	Growth with a limited potential
19 Abril	Buy within the flat around 1.1282	The 43rd figure may be hit by impulse	Sales to 108.12
18 Abril	Buying at 1.1274	Sales to 107.02	Intraday decline within the Daily flat

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Forex Technical Analysis: Trend potential

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