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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

28 November - 02 December	weekly forecast 28 November - 02 December Weekly Review. S& P500, oil, gold Monthly chart: index is agressive but ADX treats this behavior as non-trending amid well-known news drivers. It is highly likely that it will stop moving on the upper Billinger band (2225.4), from where correction or even complete reversal might occur. Weekly chart: there is a simular situation: More
2016	EURUSD	GBPUSD	USDJPY
02 December	Crazy and unpredictable day Daily chart:the pair is in flat corridor 1.0565-1.0664 yet. However, today the situation is likely to change - Non-Farm Payrolls, ladies and gentlemen. It'll be crazy and fun. If consider any technique, we can see that there would be shifts around lower Bollinger envelope (1.0389-1.0757). If we also More	Bad day for trading Daily chart: ADX is growing, but it is not in trend yet. At the same time there is a distinct bullish momentum. We will see today whether news release will support it or not. Resistance range is 1.2576-1.2600. Н4: Yesterday attempt to break out was not very successful - bears won away a solid insi More	Wait for shifts in different directions Daily chart: price will touch upper Bollinger band (116.71). The pair is overbought and there are signs of oscillator divergence. From a technical point of view, that means market is ready for reversal to 109.56 (middle Bollinger band). Н4: There is bear oscillator divergence in this frame too. How More
01 December	Couple of Scenarios for Today	Is it upward accumulation?	Wait for touch in 113.12 and sharp rise
30 November	Key Resistance Level is 1.0661	Wait for Continued Consolidation by Friday	Extensive Shadow
29 November	Two flat corridors	ADX is not ready for big moves	Flat range
28 November	Possible Scenarios for Monday	Trend Shaping	Downward Reversal

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Forex Technical Analysis: Trend potential

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