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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

18 - 22 May	weekly forecast 18 - 22 May Weekly report. S&P500, Brent and Gold S&P500 Monthly chart: everything is under the & quot; our & quot; scenario, namely there is a movement to psychological 2200.1 level, then a strong rollback is expected to middle Bollinger band (1941.9). Weekly chart: as we can see, there is a bull potential here(the pair got a pinbar from middl More
2015	EURUSD	GBPUSD	USDJPY
22 May	We buy Euro to 1.1286 Daily chart: So, we are still expecting movement to 1.1390 as the area of supposed active movement on Euro which will knock the pair down to 1.0817. This is a middle-term scenario with an obvious outlook for the next week. Н4: resistance has been shaped on 1.1286 (the upper Bollinger band). It is More	Growth to 1.5862 is possible Daily chart: bulls are successful in the inside bar, which confirms a general ascending potential. Nearest target of movement is 1.5862 (the upper Bollinger band) Н4: ADX is active, whereas Bollinger envelopes are passive. Direct growth and return to the middle Bollinger the middle Bollinger band a More	Target of correction - 119.84 22 of May, 2015, USD/JPY Daily chart: Yesterday we have received Inside Bar. That makes a bounce more significant than we though it would be yesterday. Goal for decline is the middle Bollinger band (119.84) Н4: Control support is based at 120.74. Break of this support will open a way to 119.84. Н1 More
21 May	Growth to 1.1226 is possible	Flat 1.5518-1.5584	A notable Northern signal received
20 May	The strongest downward O&U has been received	Decline towards 1.5371 is going on	We wait for purchases in the area 120.29
19 May	Waiting for new sales from 1.1313	Target for decline 1.5342 is preserved	Level 120.39 is the limit

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Forex Technical Analysis: Trend potential

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