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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

12 - 16 October	weekly forecast 12 - 16 October Weekly review of S&P500, gold and oil S&P500 Month: it is not difficult to notice that bulls control their long trend support (blue area), but ADX/RSI clearly indicates corrective nature of index growth. The question is only possible scale of the rollback. Another inside bar is possible to be formed in October. Limit of compensa More
2015	EURUSD	GBPUSD	USDJPY
16 October	We expect finalization of target 1.1286 after correction The daily chart: the pair is in line with our scenario - after breaking the top envelope, there will be a corrective pullback to the middle Bollinger band (1.1286), from where we will enter in the medium-run in the upward direction based on the movement of the euro towards 1.17 and possibly higher. More	Expect fall to 1.5372 The daily chart: Bollinger envelopes remain horizontal direction, plus we can see that rush of bulls does not support ADX. Therefore, we can see correction around the middle band (1.5307). This is still a relevant goal - 1.5597 (Upper Bollinger Band) Н4: more localized support in the area of 1. More	Correction towards 119.85 will continue The daily chart: having denoted their determinationto move the price to the south, bears however, had to reckon with the rules of working with Bollinger breakouts - namely, tendency to return to the middle lane. In this case - 119.85, where we will sell the next week towards 116.00 Н4: intermedia More
15 October	A strong signal to North	Entry point and goals for the Pound	Expect an upward correction prior to collapse
14 October	Duality of support 1.1347	We are looking for sales to 1.51	Purchases from the zone of 119.61
13 October	Trade between the levels of 1.1317 and 1.142	Preparation for Southern movement	Strong resistance around 120.30 and 120.61
12 October	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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