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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

10 - 14 October	weekly forecast 10 - 14 October S&P500, Brent and Gold in the weekly review S&P500 Monthly: September's pinbar has no support under it, so we can't fully consider it as a trading setups. We expect a continued correction in the direction of the middle Bollinger band (2062.8). Weekly: a similar situation: the pair is getting corrected down against weak declining AD More
2016	EURUSD	GBPUSD	USDJPY
14 October	Possible corrective growth towards 1.1180 Daily chart: an upward correction has started, and now we can expect movement in the direction of the middle Bollinger band (1.1180) Н4: an intermediate resistance is at the middle Bollinger band (1.1068). Bulls need to break it to open the way to 1.1180 (merging of the day middle band and upper More	Control resistance level - 1.2265 Daily chart: the last day was closed by a second bullish inside bar in a row at high price, which opens the possibility of correction to 1.2801 (middle Bollinger band), but such intense activity of ADX may mean that bears are preparing for a consolidation Н4: much better shaped level of resistan More	Growth to 104.36 and then fall Daily chart: despite a very active status of ADX, a downward correction in the direction of the middle Bollinger band (102.15) has started. However, bulls can attempt to break the top envelope. Н4: the price has maintained a rising structure, but a well expressed bearish divergence of the oscillato More
13 October	Bearish potential is going to exhaust	New Lows can be reached	Finalization of 104.59 and then a downward rollback
12 October	Bears still dominate, but an upward rollback is possible	Finalization of 1.2386 and move down	Consolidation or distribution?
11 October	The two ways are possible	Search for downward signals around 1.2436
10 October	Bulls have an advantage	Looking for downward entries	Consider only sales now

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Forex Technical Analysis: Trend potential

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