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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

30 November - 04 December	weekly forecast 30 November - 04 December Weekly review of S&P500, oil and gold Monthly: November's close is taking place on growth, so on the one hand, we are waiting for finalization of the upper Bollinger band (2169.5) in the medium term, and on the other hand - downward reversal, because ADX still contradicts RSI. Weekly: a little more localized resistance at 2160.0 More
2015	EURUSD	GBPUSD	USDJPY
04 December	Correctional karma Daily chart: the abnormal news bar broke the upper envelope, having covered 3-weeks' range, but meanwhile it has not impressed ADX, which turned away from bulls. This may mean a high probability of a strong downward correction prior to a possible full reversal of the euro up, which had been brewing More	Those who trade on pullbacks have a chance Daily chart: the middle Bollinger band (1.5147) was reached, from where, taking into account the downward attitude of the envelopes and insufficiently active ADX, we may expect another drop towards the bottom band (1.4976) before the main growth phase starts within the frames of the upward reversal More	Anticipating correction in the area of 123.13 Daily chart: the pair continues to be squeezed within the trading range of Bollinger envelopes (122.04-123.64) Н4: the bottom envelope is formally broken, but the pair has substantial support at 122.60. This may lead to a rollback to the zone 123.13 (middle Bollinger band) Н1: the same situation. More
03 December	Flat 1.0569-1.0633	Looking for the best entry point on decline	Sandwiched between 123.04 and 123.51
02 December	We may witness upward reversal of the euro	Determine areas to enter up	Small trading ranges
01 December	Bears' sadism is likely to continue	Active movement at relatively small ranges	The pair aims to 124th figure
30 November	Premarket review on the euro. Analysis of Friday's close	Premarket on the Pound. What we can expect on Monday	Premarket view on the Yen

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Forex Technical Analysis: Trend potential

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