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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 January	weekly forecast 23 - 27 January Weekly Review. S&P500, Brent, gold Monthly chart: the tendency remains unchanged. Highs keep increasing, oscillator shows divergence (indicating possible bullish weakness), ADX is passive. Considering all this, we are still expecting the index to reverse to the downside Weekly chart: local resistance level is at upper Boll More
2017	EURUSD	GBPUSD	USDJPY
27 January	Decline towards 1.0613 Daily chart: we are observing downside correction towards support level at 1.0613 (middle Bollinger band). From there a new rise towards 1.0801 (upper Bollinger band)may be started. Н4: here we have active trending ADX, so breakout of 1.0613 is likely to occur. Н1: localized support level on low More	Consider selling from 1.2579 to 1.2460 Daily chart: for this moment we have a downside correction towards middle Bollinger band (1.2341). There is likely to occur starting from middle band rebound towards 1.2646 (upper Bollinger band) Н4: intermediate support level is in lower Bollinger band region (1.2460). ADX/RSI are correcting, th More	Upside pressure Daily chart: the pair has reached strong resistance level at 115.06 (round psychological level and middle Bollinger band). It is highly likely that price will bounce down. However, if price will enter upper Bollinger envelope, breakout of 118.23 may be expected, although it won't change general scen More
26 January	Edging flat	Buy Pound towards 1.2750	Slipping flat
25 January	Correction Scenarios	Flat in 1.2436-1.2551 Region	Key Resistance at 114.02
24 January	Bulls can break 1.0844	Up move potential of 200 pips	Keep selling
23 January	Try to enter down from resistance level 1.0720	Two scenarios for Today	Entry points to sell

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Forex Technical Analysis: Trend potential

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