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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

08 - 12 August	weekly forecast 08 - 12 August Weekly Review: S&P 500, Brent, Gold S&P500 Monthly: the upper Bollinger band hints at the possibility of reaching new absolute highs. ADX has not reached the trend value yet, but it is growing. All these facts can talk about a very serious Northern potential. Weekly: at the local level, we witness contradiction of ADX/RSI, More
2016	EURUSD	GBPUSD	USDJPY
12 August	Bears in the Arena Daily chart: the pair continues to stay within the upper Bollinger envelope (1.1090 - 1.1222) Н4: The bearish pattern Over&Under is being worked out; the goal is 1.1051 (bottom Bollinger band) Н1: a local resistance 1.1157 (middle Bollinger band), from where we can again consider sales of eu More	A drop to 28th figure is expected Daily chart: ADX is close to trend area and growing. This means that no purchases are considered. Н4: an active trend ADX, we are waiting for activation of sellers and drop to 28th figure. Н1: at this local level, correction to the middle Bollinger band (1.2981) still may take place. There the b More	Growth to 102.79 Daily chart: the pair is concentrated within the lower Bollinger envelope (99.78-103.75) and so far this trend shows no sign of the end. Н4: a local resistance 102.79 (upper Bollinger band). Envelopes are stable, so there is a high probability of a downward rebound from this level. Н1: local n More
11 August	Buy on a decline to 1.1122	Cloudy water	A flat day
10 August	A takeoff to 1.12 and a new drop	Buy from 1.3017 to 1.3144	A possible workout of psychological level 100.00
09 August	Flat continues	1.2965 is to be finalized	Looking for upward entry points
08 August	The range 1.1058 - 1.1100	Daily supports 1.3021 and 1.2973	Possible growth to 102.48

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Forex Technical Analysis: Trend potential

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