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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 an author of the method.

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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

10 - 14 August	weekly forecast 10 - 14 August Weekly review: S&P500, oil, gold S&P500Monthly chart: bulls can’t make it. Flatcorrection continues. Weekly chart: the sideways range 2055.2-2136.9 is kept. ADX is not close to the penetration this week but we expect it to break down. Daily chart: a flat corridor with a local resistance of 2050.6-2136.9 ( เพิ่มเติม
2015	EURUSD	GBPUSD	USDJPY
14 August	Buys from 1.1089 Daily chart: bulls made the pin-shaped inside bar after the breakthrough of the upper Bollinger envelope. So we can see 1.1386 soon. In advance we can probably see the pullback to the middle Bollinger band (1.0984), in this case, we buy to 1.1386 medium-term. Н4: the localized support 1.1089 (the m เพิ่มเติม	Work in the corridor 1.5586-1.5632 Daily chart: the flat is continued within the price pressed in the Bollinger envelopes (1.55--1.5664). Н4: more localized flat corridor - 1.5557-1.5640. Н1: also flat state of ADX and flat Bollinger corridor - 1.5586-1.5632. Expectations: flat 1.5586-1.5632 Trading solutions: 1) Work in the corri เพิ่มเติม	The flat day Daily chart: the pair entered the flat corridor 123.36-125.00, and we can’t ignore the northern direction of the pressing. Н4: the local tend to the decline till 123.90 (the bottom Bollinger band) Н1: very narrow corridor 124.33-124.49. It is not clear how the pair will stay in such narrow corrido เพิ่มเติม
13 August	Wait for the correction down and then the growth to 1.1212	Strong resistance 1.5664	Sell again on the pullback up
12 August	Wait for the decline from 1.1089 to 1.0970	Flat 1.5550-1.5600	We wait for one more impulse up and then the pivot
11 August	Buy from 1.0977	Buy from 1.5522	The corridor 124.30-124.78
10 August	We expect strong resistance 1.0991	Support 1.5452, resistance 1.5537	Support 124.00, resistance 124.53

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Forex Technical Analysis: Trend potential

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