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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

21 - 25 March	weekly forecast 21 - 25 March Weekly scenario for gold, S&P500, Brent S&P500 Monthly: The index has continued an intense correction in the direction of the upper Bollinger band (2149.3), from where we will wait for a new medium-term decline cause ADX shows no action regarding bullish movement. Weekly: Meanwhile it is not clear whether a new High will be reach More
2016	EURUSD	GBPUSD	USDJPY
25 March	The riddle Daily chart: yesterday the pair fulfilled a potentially reversal pin bar, but since there is no good support, it has a poor quality. The main support is below at 1.1082 (middle Bollinger band) that can dominate the market. Bulls shall be patient and we expect touch of this area. Н4: clamping range More	Purchases around 1.41 Daily chart: the pair has entered the wide range 1.3861-1.4517, but we should not forget about some reversal of the bullish moment against the background of a strong convergence of the oscillator. Therefore, now it is possible to look for the entry points in the upper part Н4: the bottom Bollinge More	Looking for signals up to 112.50-112.83 Daily chart: the pair is in the flat corridor 111.54-114.40 (Bollinger band envelopes). Against the background of growing ADX, we can assume that buyers have the advantage. Н4: local clamping of the trading range within the upper envelope Bollinger (support 112.50, resistance 113.28) Н1: anoth More
23 March	Sell EUR to 1.1068	We are expecting GBP decrease to 1.4050	Flat range
22 March	The best strategy is to wait for price movement	GBP is to decrease to 1.4243	We are waiting for decrease to 111.46 and buy from this level
21 March	Decline to 1.1217 and search for new entry points up	Sell on touch of 1.4500-1.4509	Looking for shorts around 111.73-112.27

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Forex Technical Analysis: Trend potential

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