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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

2016	EURUSD	GBPUSD	USDJPY
28 October	Euro. Preparing for new sales Daily chart: there was a bearish inside bar yesterday, which can be considered a distinct signal to the euro in sales towards the lower Bollinger band (1.0785). H4: local sellers do not have the trend support from ADX, so inside the present day (and, accordingly, this week) a couple can restrain th More	Pound. The decline may begin at any time Daily chart: bears, obviously, again pull the wheel from the market bulls. Now there are all prerequisites to a fresh start down towards the lower Bollinger band (1.1871). H4: the narrowing of the Bollinger envelopes happens on insufficient ADX parameters, so the flat can theoretically be continued More	Yen. The bullish trend, but with local difficulties Daily chart: there is a bullish trend here, and also active ADX, so buyers can reached not only upper Bollinger band, but even next target - 106.74. H4: there is overbought, but the oscillator has not shown signs of divergence yet, so we expect upwards moving. ADX is very active. H1: locally pair More
27 October	Euro. The day may pass in the flat	Pound. The corridor of 1.2164-1.2256	Yen. The bulls are looking for 105.53
26 October	Euro. 1.0857-1.09 range	Pound. We are looking for new entries down	Yen. The key support is located at 104.05 zone
25 October	Euro. Again we sell from 1.09 area	Pound. Two scenarios for today	Yen. We are looking for an entrance to 103.81-104.02 zone
24 October	Euro. Bulls have a chance to make a correction	Pound. Flat as a preparation for new reduction	Yen. Relax in the shade of sakura

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Forex Technical Analysis: Trend potential

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