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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

21 - 25 November	weekly forecast 21 - 25 November The Weekly Review: S&P500, oil, gold S&P500 Monthly: intensive growth of the index continued but ADX, as a week ago, treats this movement as non-trending. This increases the probability of downward rebound from the upper Bollinger band (2225.4), which again will send the price to the middle band (2073.5) Weekly: an ambiguos s More
2016	EURUSD	GBPUSD	USDJPY
25 November	Euro. Correctional potential of 100 points Daily chart: there are signs of starting correction, but do not forget that yesterday pinbar was inside Bollinger envelopes (that is without support), usually such signals are false. The correctional potential can be also high up to middle Bollinger band (1.0827). Bears still have not worked with l More	Pound. Boring Ending of the Week Daily chart: pound has not changed - the pair is in flat in the area of middle Bollinger band (1.2422) whithin the horizontal corridor between Bollinger bands (1.2177-1.2642). ADX is very weak and corrective that's why we are not expecting any changes today. Н4: Let's look at the non-targeted flat More	Yen. Has This Day Come? Daily chart: upper Bollinger band(1134.28) is a potential point of reversal. Trend needs a rollback badly and bullish profit-taking can cause it. Н4: key support is near middle Bollinger band (111.94). This level will determine bulls' potential. In any case, the pair will not get higher than 114.28 More
24 November	Euro. Bears continue to execute	Pound. Marking Daily Range	Yen. Signs of Impending Rollback
23 November	A flat day	The session can be nervous	Ambiguous
22 November	Looking for the place for an upward reversal	Drop to 1.2378 followed by an upward bounce by 100 points	The two ways for today
21 November
21 November	The pair can relax in flat

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Forex Technical Analysis: Trend potential

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