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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

05 - 09 October	weekly forecast 05 - 09 October S&P500, gold, Brent: weekly review S&P500 The monthly chart: September was closed by the inside bar and bulls during the first day of October corrected index almost by half of September range. In this case we witness ADX/RSI ration, so growth looks like only corrective. The options are either turning down a new inside bar at More
2015	EURUSD	GBPUSD	USDJPY
09 October	Waiting for the impulse! p>The daily chart: Meanwhile, Bollinger envelopes retain the same horizontal channel, but we see that ADX entered the active zone, so - we are close to the top of distribution of the accumulated volume in the flat. Directions are equally probable. Н4: from the top Bollinger band the pinbar was rec More	Looking for Long-signals in the area of 1.5254 The daily chart: the pair has broken into the top envelope Bollinger and can now move to the upper band (1.5590) H4: local resistance at the upper line of Bollinger (1.5395) support is on the middle line (1.5254) H1: double top against the backdrop of divergence of oscillator - a serious appli More	The decisive day The daily chart: we note active trend ADX, that may say about a prepared exit from the flat range. Where? There is no unequivocal answer. Any clarity about the bearish scenario will be showed under the support of 118.70. Bulls also need to pierce the upper Bollinger band (120.71) Н4: as important More
08 October	Flat day expected	Growth is expected to replace correction	The price continues to accumulate potential
07 October	Growth to 1.1380 is possible	To the North	Flat day
06 October	Descending flat	Waiting for decline to 1.5103	To the North
05 October	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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