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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

27 - 31 March	weekly forecast 27 - 31 March Weekly Review. S&P500, Brent, gold S&P500 Monthly chart: we still wait for downside correction (or even downside reversal) towards middle Bollinger band (2118.3) Weekly chart: ADX/RSI show downside correction. Support level is at 2270.9 (middle Bollinger band). Upper Bollinger band is edging towards 2427.6 but general setup More
2017	EURUSD	GBPUSD	USDJPY
31 March	Decline and Correction Potential Daily chart: bears have broken middle Bollinger band (1.0695) but ADX shows passive trend, so it is not guaranteed that the pair will keep dropping in the same sharp manner. However, in general bears are aiming at lower Bollinger band (1.0482) Н4: there are two intermediate support levels at 1.06 More	100-pip Trading Range Daily chart: the pair is in the middle of upper Bollinger envelope (1.2341-1.2579). ADX shows correction, so the price is likely to jump up and down. Н4: bearish inside bar from middle Bollinger band (1.2479) gives opportunity for decline towards lower Bollinger band (1.2341). Н1: ADX shows weak More	Bulls Prepare Attack of 112.91 Daily chart: upside correction continues towards middle Bollinger band (112.91), this level will either let the pair rise higher to 115.73 (upper Bollinger band) in mid-term, or send it back down towards 109.97 (lower Bollinger band). Н4: here we see upward breakout of upper Bollinger envelope wh More
30 March	1.0695 Breakout Expectations	Drop to 1.2331	Key Support Level is at 110.82
29 March	1.0746-1.0849 Range	Downside Breakout of 1.2434 will Trigger 100-pip Drop	Breakout of 111.51 and Following Drop Expectations
28 March	Should 1.0894 be Broken - Expect Shot to 1.10	Two Support Levels for Long Positions	Bearish Market and Possible Upside Correction
27 March	Bulls Trial in 1.0871 Region	Looking for Downside Entries	Decline in Case of 110.79 Downside Breakout

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Forex Technical Analysis: Trend potential

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