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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

11 - 15 July	weekly forecast 11 - 15 July Weekly Review. S&P500, Brent, Gold S&P500 Monthly: the bullish movement does not involve a trend charge from ADX, therefore the price is much likely to face resistance around the upper Bollinger band (2169.9) Weekly: the same picture. Local resistance is around 2128.5. The bullish momentum is strong, so a rebound/contin More
2016	EURUSD	GBPUSD	USDJPY
15 July	Looking for buying options around 1.11 Daily chart: the pair has almost reached the middle Bollinger band (1.1143) and ADX is interested in what is going on. This means that further upward movement towards 1.1335 (Upper Bollinger Band) is probable. At the same time, of course, the bearish scenario (decline to 1.0951; the blue arrow) can More	Weakening of buyers Daily chart: the bottom Bollinger band has shifted lower to 1.2300, which may indicate the upcoming end of the bullish movement (around 1.3594) Н4: ADX is in the active zone, so a rebound from 1.3594 and further breakthrough are equally probable. Н1: divergence of the oscillator is another sign More	Waiting for short signals around 106.10-106.51 The daily chart: ADX is turning up, so resistance 106.51 (the upper Bollinger band) may be under load, which in turn can lead to growth (in the medium run) for a few hundred points. This is just as probable as a downward rebound from 106.51 (blue arrow). Н4: the first signs of divergence of the o More
14 July	Range of the day 1.1040-1.1112	Decline	The daily corridor 104.03-104.75
13 July	Range 1.1051-1.1105	Bullish scenario	Looking for the upward entry points
12 July	Ready for a deeper decline	The medium-term 600 points' drop	A descending correction
11 July	Preparing to fall to the 25th figure		Sell from around 101.00

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Forex Technical Analysis: Trend potential

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