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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

05 - 09 September	weekly forecast 05 - 09 September The Weekly Review of S&P500, Brent, Gold S&P500 Monthly: The oscillator has signs of bearish divergence, so we cannot forecast the price to get above the upper Bollinger envelope (2216.9). Support is at 2062.8 (middle Bollinger band), where the index is likely to eventually get to. Weekly: we confirm resistance 2216.9 at the More
2016	EURUSD	GBPUSD	USDJPY
09 September	Going North Daily chart: ADX favors buyers, but so far it has not reached the trendline area, and Bollinger bands remain a stable horizontal determination. Northern target is at the upper band (1.1365) Н4: inside bullish bar against very active ADX state indicates readiness of the price to surge to 1.1317 ( More	Daily range Daily chart: a continued downward correction in the direction of the middle Bollinger band (1.3175), from where bulls are expected to attack resistance 1.3438. This is the the medium-term scenario, rather than the intraday one. Н4: does it look like a head-and-shoulders pattern? Yes, it seems. If More	Looking for upward entry points on decline Daily chart: ADX is going through correction, so the main trend is trading around the middle Bollinger band(101.85) Н4: equally probable scenarios are growth to 104.00 (upper Bollinger band) and drop to 100.72 (bottom band). ADX is weak and corrected Н1: a better shaped support area - 101.88 (mi More
08 September	The day can be "boring"	Range of the day: 1.3300 - 1.3367	Finalization of 101.00
07 September	Purchases from support 1.1187	Buy after the downward correction	Sales from around 102.94 - 103.32
06 September	Check the flat range for today	A break?	A continued accumulation potential
05 September	Analysis of how markets closed on Friday	Monday's premarket view of the pound	Looking for upward entry points

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Forex Technical Analysis: Trend potential

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