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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 November	weekly forecast 23 - 27 November Weekly report on Brent, Gold and S&P500 S&P500 Monthly: scenario remain the same: after a possible touch of the upper Bollinger band (2169.5) we are waiting for a downward reversal Weekly: a little more localized resistance level - 2162.1 (the upper Bollinger band) The daily chart: even more localized upper Bollinger band (212 More
2015	EURUSD	GBPUSD	USDJPY
27 November	Exit of the flat could be delayed Daily chart: on the background of yesterday's Thanksgiving absolutely nothing happened and, therefore, absolutely nothing has changed. We continue to watch the bull convergence (which can reverse the trend upward) and the bottom Bollinger band (which shows that further break of 1.05 is possible) Н4 More	We are looking for the area to buy Daily chart: consolidation of the pound continued. Against the backdrop of massive convergence of the oscillator, we can talk about weakening of bearish pressure, although the bottom Bollinger band persistently shows unfinished area on the bottom line (1.4991). Resistance - on the middle band (1.52 More	Flat day Daily chart: the pair consolidated at the middle Bollinger band on yesterday's flat market and we are back at the source point - either bears break the bottom envelope (to 120.71) or bulls finalize the upper band (124.16) Н4: flat range 122.29-122.94 Н1: very narrow corridor 122.53-123.64. It is More
26 November	Reversal maneuvers continue	Northern preparation	Strong support zone 122.37-122.58
25 November	Preparing for a local upward reversal	We are waiting for growth to 1.5157	Perhaps, a sharp fall in the event of withdrawal under 122.35
24 November	Probably, the euro will turn up	We expect more than 100 points' correction up	Bull front is weaker, but the price can make another surge
23 November	Premarket review on the euro. Analysis of Friday's close	Premarket 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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