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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

20 - 24 June	weekly forecast 20 - 24 June Weekly Review. S&P500, Brent, Gold S&P500 Monthly: So, the bullish front could not get above a crucial resistance line 2111.7. Now the upward reversal from ADX can be treated as the part of Southern scenario. Weekly: structure remains bullish. Though, a bearish pinbar is a contradictory signal. If the price reaches 2017. More
2016	EURUSD	GBPUSD	USDJPY
24 June	Looking to buying options to 1.15 Daily chart: the pair is nearing resistance 1.1435 (upper Bollinger band) on low and non-growing ADX, so the probability of a downward rebound and correction in the direction of the middle band (1.1262)is high Н4: here, in turn, ADX is in the trend configuration, so we assume that 1.1435 will be un More	Waiting for growth to 1.5050 Daily chart: an openly bullish chart and ADX is curve. Minimum targets are around 1.5050. Н4: ADX in the trend area is well, plus a pronounced hint of a break of the upper Bollinger envelope. It allows buying the pound after correction to the middle Bollinger band (1.4740) Н1: Here ADX is risi More	Sales Area – 107.13 Daily chart: the price has almost reached the middle Bollinger band (107.13), from where a new descending wave to the lower Bollinger band (102.85) may start. Н4: a growing (but not yet trend) ADX. Plus we have four bars out of Bollinger envelopes - a sign of correction. Support is at the middle Bo More
23 June	Surge to 1.1375 is possible	Outlook of growth prevails	Still preparing to drop
22 June	Drop to 1.1181	Ascending flat	Goal of correction - 107.58
21 June	Descending correction	Looking for downward entry points	Sales again
20 June	Bulls have a chance to finalize 1.14	Waiting for finalization of 1.4458	Falling deeper

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Forex Technical Analysis: Trend potential

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