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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

25 - 29 April	weekly forecast 25 - 29 April Weekly Review. S&P 500, Brent, Gold S&P500 Monthly: an ambiguous situation. The structure of the movement remains to be top-down, but the momentum is still bullish. If the price continues its growth to the upper Bollinger band (2154.5), the index may regain the northern impulse again. Weekly: area of strong resistanc More
2016	EURUSD	GBPUSD	USDJPY
29 April	Growth to 1.1446 Daily chart: the pair is growing in the direction of the upper Bollinger band (1.1446), ADX also increases in the direction of movement of the price and the oscillator, so the likelihood of reaching this mark is very high Н4:the upper Bollinger envelope is broken, which is a strong signal of the More	An intense growth Daily chart: a very active trend ADX allows us to count on a significant growth of the pair. Visually goals can be up to 1.4925 and there is quite a high probability that bulls will delay finalization of their goals Н4: we also notice trend activity of ADX plus expansion of Bollinger envelopes - More	An ambiguous situation for another day Daily chart: the pair us steadily dropping along the main trend. Support is at 106.81 (the bottom Bollinger band). So far, ADX is not very active, there may be some rebound. Н4: the is heavily oversold, with ADX close to trend zone. An ambiguous situation, with the upward reversal and continuatio More
28 April	Northern preparation	We consider purchases around 1.4507	An ambiguous situation
27 April	The key resistance area 1.1320-1.1329	Northern signal, but we expect a local downward correction	Flat 110.97-111.47
26 April	Preparation for bullish movements	Buy from a downward correction	Will trend signals inside the flat be justified?
25 April	Looking for the entry points into sales to 1.1166	Sales to 1.4298	An opportunity to trade in both directions

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Forex Technical Analysis: Trend potential

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