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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

06 - 10 June	weekly forecast 06 - 10 June Weekly review: S&P500, Brent, Gold S&P500 Monthly chart: If bullish momentum will break through the barrier 2112.3 is the main intrigue and question right now. The ADX behaves mysteriously, being close to the trendline area, but does not show a direct interest in what the happening.Weekly chart: The outcome is very close. If 2112.3 More
2016	EURUSD	GBPUSD	USDJPY
10 June	Euro. Correction to 1.1353 is expected Day chart: obvious bearish momentum after the "collision" of a pair with the upper Bollinger band. So expect a continued decline in the direction of 1.1236 and 1.1071 (middle and lower bands of Bollinger, respectively). H4: resistance is located at the middle Bollinger band (1.1353), sell from this More	Pound. Correction in the 45th figure Day chart: Flat continues within the range of horizontal Bollinger envelope (1.4322-1.4704). There is no signs of changing this trend. H4: there is a narrower range (1.4417-1.4594). Bouncing from the lower band is almost prepared, so we will see upward movement soon. H1: ADX is located in active zon More	Yen. Looking for decline Day chart: ADX increasing its activity, so a new phase of decline may begin at any time. Support stands at 106.33 (the lower Bollinger band), resistance - 109.05 (middle band). H4: there is sideways range within Bollinger envelopes (106.33-107.77). You had better consider short positions from the u More
09 June	Euro. Bullish accumulation	Pound. Local decline	Yen. The range of 106.66-107.15
08 June	Euro. Traders will need patience	Pound. Look for the signals up at the levels 1.4527 and 1.4488	Yen. Positional advantage of bulls
07 June	Euro. Possible flat "break"	Pound. Purchases to 1.46 and 1.47	Yen. Possible breakthrough of 109.28
06 June	EUR. We mark zones for selling on Monday	Pound. Sell from 1.4591 zone.	Yen. 200 upward pips on correction

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Forex Technical Analysis: Trend potential

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