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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 June - 01 July	weekly forecast 27 June - 01 July Weekly Review. S&P500, Brent, Gold S&P500 Monthly: the index is steadily dropping to the bottom Bollinger band (1928.3). Local support is around the middle band (2031.1) may slightly delay the chart, because drop does not have signs of trend. Weekly: a similar situation. ADX/RSI has a corrective status, so a deeper decline More
2016	EURUSD	GBPUSD	USDJPY
01 July	Sell from 1.1138 Daily chart: the pair is exactly in the middle of the lower Bollinger envelope (1.1010-1.1240), buy selling is yet profitable not. Let's get "updated" on the younger frames. Н4: local resistance from the upper Bollinger band - 1.1138. ADX is weak and going through correction, so the most likely s More	An upward bounce from 1.3170-1.3216 is expected Daily chart: the pair noticeably prevails to a further reduction in the area of the lower Bollinger band (1.3143). Bulls could not even lift the yesterday's High. Н4: a horizontal omnidirectional corridor within a very wide range of envelopes Bollinger - 1.3170-1.3516. ADX is very weak, so it i More	Resistance 103.45 will throw the pair down Daily chart: a continued technical correction towards 105.06 (middle Bollinger band), from where a new wave down to 110.59 (the lower Bollinger band) is likely to take place. Н4: a local area of resistance 103.45 (upper Bollinger band). ADX is rising, but has not reached the trendline area yet, More
30 June	Still preparing to go to the north	Key levels of support and resistance are 1.3404/1.3543	An ongoing upward correction
29 June	Resistance area 1.1092-1.1119	Looking for downward entry points	Trading on resistance 103.03
28 June	Selling from around 1.1155	Traders need a patience	Two digits before the decimal point - is real.
27 June	We expect decline, but northern correction is possible	Key support is1.32	Drop to 100.59

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Forex Technical Analysis: Trend potential

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