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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

23 - 27 May	weekly forecast 23 - 27 May Weekly Review. S&P500, Brent, Gold S&P500 Monthly: the downward reversal is reluctant. At the same time, the bullish component is still not enough. So we are based on the main expectations – nearing of the full reversal with the initial targets at the lower Bollinger band (1921.4). It is possible that this scenario wi More
2016	EURUSD	GBPUSD	USDJPY
27 May	North has a slight advantage Daily chart: a continued technical correction around the middle Bollinger band (1.1323), but against the backdrop of expanding envelopes and a hint at a downward reversal of the oscillator, we can anticipate a drop to the bottom band (1.1091) without a continued correction. Н4: here we notice More	Possible sales from resistance 1.4689 Daily chart: ADX lacks distribution and that probably confirms strength of walls of the upper Bollinger envelope (1.4544/1.4735, the middle/upper band) Н4: divergence of oscillator, rounding of of the top envelope - all these are bearish arguments, so it is possible to expect drop to 1.4448 (lowe More
26 May	Rising correction	The intraday resistance is around 1.4747	Flat 109.30 - 110.06
25 May	Looking for new Sell entry points	1.4519 is to be reached	Looking for buying options around 109.50-109.90
24 May	Euro. Local preparations for the mid-term drop	Flat inside the corridor 1.4456-1.4502	An ambiguous situation
23 May	Euro. Analysis of Friday's Close	Pound. Premarket view on Monday	Yen. We expect the downward correction

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Forex Technical Analysis: Trend potential

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