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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

15 - 19 August	weekly forecast 15 - 19 August Review of S&P500, Brent, Gold S&P500 Monthly: A northern mid-term pressure. But ADX is far from the trend zone, so we wait for downward pullbacks. Weekly: a similar picture - growth on the back of insufficient status of ADX. A downward correction can take place down the middle Bollinger band (2093.6) Daily chart: two More
2016	EURUSD	GBPUSD	USDJPY
19 August	Weakening of the bullish front Daily chart: 1.1400 - 1.1417 area remains unfinished, but there are the first signs of weakening of bullish movement: ADX/RSI is very close to become heavily overbought Н4: a better shaped resistance 1.1378 (upper Bollinger band), support is at 1.1283 (the middle band) Н1: ADX contradicts RSI, More	A downward reversal is closing Daily chart: flat within Bollinger envelope (1.2872-1.3361) without any signs of aggression from ADX Н4: resistance is around the upper Bollinger band (1.3220), from where the pair is likely to go down in the direction of the middle band (1.3043) Н1: a well expressed bearish divergence of the os More	The flat 99.82 - 100.43 Daily chart: a significant accumulation of bearish potential towards the bottom Bollinger band (98.40). Н4: The price is getting weak here as moving to support 99.72 (the bottom Bollinger band). Inside envelopes a rebound is possible (100.43 and 101.14, the middle andd uppers bands) Н1: a horizo More
18 August	Growth to 1.1417	Buy to 1.32	Decline to 98.52 is possible
17 August	Bulls retain control	Will bulls drive the correction to 1.3112?	Two resistance lines to search entries into sales
16 August	Growth by more 100 points	Correction to 1.3028	Sell on a rollback to 100.97
15 August	Looking for upward entry points on decline	Southern potential	The range 100.77 - 101.66

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Forex Technical Analysis: Trend potential

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