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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

14 - 18 November	weekly forecast 14 - 18 November Weekly Review of S&P500 index, oil, gold S&P500 Monthly: beginning of the month, no signs of any problems for bears, cause the inside bar started the workout quite well. But Mr. Trump made adjustments. ADX momentum does not consider north as the trend. Therefore, we are still waiting for a downward reversal at least from the upp More
2016	EURUSD	GBPUSD	USDJPY
18 November	Searching for the bottom Daily chart: the euro market is in a deep downward fall and the most unpleasant, what we can do here is searching for its bottom. We have already seen the number of bars outside Bollinger envelopes that could be a corrective signal. But such indirect signals not enough to expect a reversal. ADX is v More	A new drop can be enabled by breakdown of 1.2360 Daily chart: the pair continued a downward correction inside Bollinger envelopes (painted by yellow). If the middle Bollinger band (1.2360) is not broken, the chart will remain the overall rising structure. Н4: ADX is growing, but has not yet reached the trend value yet that can help the price re More	Correction is possible from around 111.10-111.31 Daily chart: bulls are in pristine condition and now we can only guess at what level they will stop. ADX is very aggressive, so resistance near 111.31 is questionable. Н4: a similar situation: the price is overbought against high pressure from ADX. Finalization of 111.31 is much probable. Н1: anot More
17 November	A continued decline after correction	Flat continues	A strong reversal signal
16 November	Looking for correction signals around 1.0680-1.0700	Horizontal corridor for today	Downward correction is coming
15 November	Expecting an upward correction	Downward consolidation	Sales on correction are possible
14 November	What can we expect on Monday	We have to refuse correlation with euro	Fight between frames

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Forex Technical Analysis: Trend potential

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