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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

14 - 18 December	weekly forecast 14 - 18 December Weekly Review. S&P500, Gold, Brent S&P500 Monthly: justified scenario of correction, ADX is inactive, but in general - a further decline to 1906.2 is possible (the bottom Bollinger band) Weekly: the same scenario. The index is already in the bottom envelope, so virtually the only way for it is the bottom band (1906.2) The da More
2015	EURUSD	GBPUSD	USDJPY
18 December	We monitor response of the euro to the key resistance Daily chart: the downward correction has reached the bottom Bollinger band (1.0787), so we expect a new upward wave (to the upper band 1.1091). But there is also a scenario, under which the middle band is broken, and the euro will be falling back into zone of 1.06. Н4: technical pullback to the mi More	Decline to 1.4871, 1.4838 Daily chart: bulls have the opportunity to carry correction to the middle Bollinger band (1.5086), but ADX is strong, so bears can carry out a new attack as well as to get new lows. Н4: more localized resistance 1.5020 (middle Bollinger band). Support 1.4838 (the bottom band). Н1: the level 1.4 More	Correction is close Daily chart: active work in the direction of the bottom Bollinger band (121.02), from which a rebound to the middle band (122.54) is possible, as meanwhile envelope are horizontal. Н4: a more localized support at 120.69 (the bottom Bollinger Band). Н1: four bars out of the Bollinger envelope - a More
17 December	Two scenarios for the euro	100-points' range	We consider buying from 121.89
16 December	Correction to the area 1.1031 and a new decline	Bearish pressure, but there is a room for correction	Looking for the upward entry points around 121.00
15 December	We consider sales from 1.1026	Flat 1.5112-1.5208	Flat range 120.58-121.37
14 December	Premarket view on the euro. Analysis of Friday's close	Premarket view on the pound. What we can expect on Monday	Premarket view on the yen

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Forex Technical Analysis: Trend potential

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