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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

19 - 23 September	weekly forecast 19 - 23 September Weekly Forecast for S&P500, Brent, Gold S&P500 Monthly: continued local downward correction, which, apparently, would reach at least the middle Bollinger band (2062.8), upon that bullish potential will be tested. But note that the oscillator has shown a well expressed bearish divergence a long ago, therefore, with high probabili More
2016	EURUSD	GBPUSD	USDJPY
23 September	Closing the week is boring Daily chart: nothing has changed: euro is still within Bollinger envelopes (1.1125-1.1285). ADX is very passive, so basically the price will fluctuate around the middle band (1.1207) Н4: the price has broke through the upper Bollinger envelope, so the basic expectation is a surge after a seconda More	Looking for upward entries on a decline Daily chart: yesterday, after the inside bar from the lower Bollinger band the pair has predictably moved up. But there are still very weak ADX parameters, therefore, the movement will be multi-directional. Н4: ADX in the active trend area for benefit of buyers. If northern scenario is implemente More	Support for purchases - 100.68 Daily chart: as we expected, the price has bounce off the lower Bollinger band (100.26) upward. ADX is rising, so bulls have a chance to consolidate their success, even more so that the space for movement up to 104.00 (the upper Bollinger band) is open. Н4: Here, in turn, there is very weak ADX, More
22 September	A downward rebound from 1.1207 is expected	Looking for buying options around 1.2985	Will 100.00 support zone hold bears?
21 September	New lows and an upward reversal	Pre-reversal convulsions	Decline to 101.84 is expected
20 September	It's not worth the effort	Flat as preparation for an upward reversal	The range 101.59-102.08
19 September	Expecting touch of 1.1122 zone and rebound	Looking for buying options around 1.30	Flat day

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Forex Technical Analysis: Trend potential

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