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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

19 - 23 December	weekly forecast 19 - 23 December Weekly Review of S&P500 index, gold and Brent S&P500 Monthly: ADX still had not responded to a two-month's surge of the index, which can mean lack of trend capacity and anticipate a downward reversal. Weekly: the oscillator has signs of bearish divergence, although simultaneous growth of ADX/RSI and unconfident weekly pinbar can be More
2016	EURUSD	GBPUSD	USDJPY
23 December	Unstable flat Daily chart: upward rollback has every sign of technical correction (not of a reversal and new uptrend). The pair is ready for a new decline to 1.0342 (lower Bollinger band). However, touch of middle Bollinger band (1.0569) is still possible. Here, around middle band, is the best range to enter mark More	Attractive 1.2250 Daily chart: ADX is in trend and now the price might shift beyond lower Bollinger envelope (support level 1.2251 breakout) Н4: there is bullish convergence, it means that it's time to correct price up to 1.2346 or even to 1.2418 (middle and upper Bollinger bands). Н1: local support level is on l More	Keep waiting for downturn Daily chart: inside bars succession triangle narrowed to the maximum, soon we will know the outcome. The pair is technically ready not only to reverse down, but also to decline. The first mid-term stop points are 115.20 and 111.37 (middle and lower Bollinger bands). Н4: horizontal range of Bollin More
22 December	Bears protect their assets	Possible buys	Still preparing for reversal
21 December	Bears keep pushing, bulls can only hope	Flat stage before upward reversal	The pair's maximum is 118.30
20 December	Your favorite 50/50	Touch of lows and correction	Consider entring down
19 December	Any surprises are possible	Wait for shift to 1.2561 and later outcome	Quite strong reversal signals

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Forex Technical Analysis: Trend potential

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