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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

03 - 07 April	weekly forecast 03 - 07 April Weekly Review. S&P500, Brent, gold S&P500 Monthly chart:bulls are giving ground considering the results of March closing. We already have upper Bollinger envelope breakout, so we may expect drop towards middle Bollinger band (2118.3) Weekly chart: upper Bollinger band (2427.6) is likely to be tested. From there we m More
2017	EURUSD	GBPUSD	USDJPY
07 April	Bearish Potential Daily chart: bears have gathered powers and are likely to try to break support level at 1.0563 (lower Bollinger band). ADX shows growing active trend. However, this shift may be implemented on Monday. Н4: intermediate support level is around 1.0611. As we may see here, ADX is not supportive of an More	Declining Flat Continues Daily chart: the pair sticks to declining but bears are not very strong yet. That's why support level around middle Bollinger band (1.2400) is tough to break. Н4: the price is rotating inside flat corridor of 1.2424-1.2500 (Bollinger bands). ADX is growing. Н1: intermediate support level is in 1 More	Consider Trading from 110.30 and 111.10 Daily chart: flat continues within lower Bollinger envelope (109.11-112.11). ADX is not active but watching the market closely. Н4: flat corridor is within Bollinger bands range (110.30-111.15). ADX parameters are changing, so the pair is not likely to leave the specified corridor. Н1: there is More
06 April	Another Flat Day	Daily Range of 1.2424-1.2503	Declining Flat
05 April	Strong Resistance Level in 1.0702 Area	Declining Market	Different Scenarios
04 April	Bears Are Weakening	The Pair Keeps Edging	Wait and See how Price Behaves around Support Level 110.63
03 April	Consider Selling from 1.0678	Shot to 1.2700 Possibility	Trading Range - 110.42-111.71

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Forex Technical Analysis: Trend potential

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