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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

29 August - 02 September	weekly forecast 29 August - 02 September S&P500, Brent, Gold in the weekly review S&P500 Monthly: ADX has not reached the trend area yet, but is growing and conveys signals about accumulation of potential. So far, we can relate it this potential in favor of both bears and bulls with equal probability, because the oscillator has signs of divergence. Weekly: a local supp More
2016	EURUSD	GBPUSD	USDJPY
01 September	Bulls are preparing for Friday's NPF Daily chart: ADX has entered active zone, so bulls can try medium- attack from current levels towards the upper Bollinger band 1.1366. Н4:the bottom Bollinger band became rounded, plus the bullish convergence oscillator. All these things may indicate an upward reversal towards 1.1246 (Upper Bolli More	A downward reversal from 1.3177 Daily chart: the pair continues to stay within the range 1.2895-1.3306 (Bollinger envelopes). ADX is very weak and is going through correction, so there is no reason for this trend to be changed. Н4: a better shaped resistance 1.3177 (upper Bollinger band), support - 1.3043 (bottom band). ADX als More	We still expect the downward correction Daily chart: a very active trend attack on ADX promises buyers good northern outlook (in the medium run - up to 106.30) Н4: local strong resistance 103.98 (the upper Bollinger band, plus the round psychological level). All indicators are heavily overbought. Support is around 102.45 (middle Bollin More
31 August	Upward reversal around 1.1103 - 1.1131 is possible	Flat continues	A downward correction is expected
30 August	Decline to 1.1046 is expected	Bears' thoughts aloud	The price is to face resistance and start a downward correction
29 August	We should skip 1.1258 and sell again	What is the goal of upward correction?	Sell from 102.14

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Forex Technical Analysis: Trend potential

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