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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

28 March - 01 April	weekly forecast 28 March - 01 April Scenario for S&P500, Brent and Gold S&P500 Monthly:upward correction is nearing its end (Bulls finished the March rally successfully, but in general — we still wait for a downward reversal) . Weekly: we see signs of stop of the upward movement. Around 2090.0 we definitely need to look for the downward entry points Dail More
2016	EURUSD	GBPUSD	USDJPY
01 April	Weakening of the bulls at 1.1423 and a downward reversal Daily chart: signs of divergence of the oscillator, but it is difficult to recognize the oscillator top to be the the "top". However, overboughtness is here as well, which, along with a close-to-trend ADX play into the hands of the sellers. Let's see how resistance 1.1423 (the upper Bollin More	Sales to 1.42 Daily chart: Meanwhile the price stays within horizontal corridor inside the Bollinger envelope (1.4065-1.4481). The medium-term northern preparation is seen here (as confirmed by the tightening bottom Bollinger band). Н4: It seems that on the local level upward movement will get corrected to 1.4 More	Flat 112.19-112.61 Daily chart: flat corridor within the Bollinger envelope (111.54-114.21, yellow area). So far, no signs telling about possible change of the trend in the trend. Н4: on the local level, the pair retains southern orientation within the bottom Bollinger envelope. Н1: the intraday flat narrow corrid More
31 March	Advantage belongs to bulls, but correctional signals are here	Buyers got weaker	Expecting drop to 111.54
30 March	Correction down to 1.1215 and buy Euro again	Skip roll back down and again buy from 1.4280	We expect strong support around 112.50
29 March	Looking for buying on a pullback to 1.1178	Area for 250-points' upward entry	Looking for buying options around 113.03-113.20
28 March	Flat with low volatility	Flat with Northern outlook	Buy to 114.48

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Forex Technical Analysis: Trend potential

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