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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 December	weekly forecast 26 - 30 December Weekly Review of S&P500 index, gold and Brent Monthly chart: there are no changes. Index keeps going up and ADX keeps ignoring that. Considering long-term highs it is getting harder and harder to move up. Weekly chart: sharp upper envelope breakout and as sharp pinbar stop confirms that there are difficulties on bullish way. We expect a roll More
2016	EURUSD	GBPUSD	USDJPY
30 December	The price may still prefer North Daily chart: the pair has reached the middle Bollinger band (1.0542). Thus, there are signs that it may touch the upper envelope (1.0782). But ADX does not show the trend, so the price just can "get stuck" in the flat for the holidays. Н4: at this local frame the upper Bollinger envelope was brok More	Still preparing to reverse downward Daily chart: Bollinger middle band (116.08) predictably acted as supporting, but apparently, this support will fail to create a new full upward wave. A downward reversal is almost a settled thing. The medium-term goal seems to be the lower Bollinger band (112.80) Н4: a strong local resistance aroun More
29 December	Equally probable scenario with bearish positional advantage	The pair keeps declining	100-pip upward correction is coming
28 December	Looking for upward entry points	Bulls have chance for correction	Reversal confirmed - Touch of 117.29
27 December	Continuing expectations of up movement	Ambiguous situation	Christmas holidays influence the market
26 December	On Monday bulls might take a shot	Is it a trap or a chance for buyers?	Ready, steady, go!

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Forex Technical Analysis: Trend potential

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