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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.

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

09 - 13
Novembro
weekly
forecast
09 - 13
Novembro

S&P500 Monthly chart: The pair is aimed to upper Bollinger band (2169.5), and then there will be a pivot. ADX/RSI indicator shows it now. Week chart: the same picture, although ADX shows upward direction here. Day chart: local resistance is situated at 2130.4 (upper Bollinger band). Support –

2015 EURUSD GBPUSD USDJPY
13
Novembro

Daily chart: a very intense correctional session with all the signs of this trend. Will bears begin to act this week, or give themselves time to rest even on the weekend? It is a question of the day. In general, potential for correction is limited to the middle Bollinger band (1.1012). The goal of t

The daily chart: possible target of correction - the middle Bollinger band (1.5318). In general, we continue to expect a medium-term decline of the pound to the bottom band (1.5067) Н4: local resistance at the upper Bollinger band (1.5258) may be strong, because bulls come to this area with weak AD

Daily chart: potential of correction is still quite large (up to the middle Bollinger band, 121.17), but the upward reversal may occur at any time due to the previously designated strength of the rising edge. Н4: local support from the bottom Bollinger band (122.58) may be irresistible because of w

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Novembro
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09
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