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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

07 - 11 September	weekly forecast 07 - 11 September Weekly Review. S&P500, oil, gold S&P500 Monthly chart: a downward correction does not look as finished. We are waiting for the index to move to the lower Bollinger band (1796.0), from which probably some roll back in the upward direction will take place. Weekly chart: an apparent inside bearish bar and very active ADX al More
2015	EURUSD	GBPUSD	USDJPY
11 September	Northern determination The daily chart: Euro reaffirms its commitment to grow to 1.1504 (Upper Bollinger Band). ADX is closer to trend value, respectively, closer to the impulse distribution. Н4: some roll back down may happen, but the frame is also "charged" to the north. No sales! Н1: local resistance in 1.1332, from More	Purchases from 1.5384 The daily chart: the price has reached the middle Bollinger band, where there are only two options - either to the upper band (1.5843) or the bottom (1.5134). Bulls have a strong argument in the form of an aggressive perforation of yesterday's inside bar. But for some reason, ADX did not react to i More	Flat day The daily chart: the pair is definitely ready to continue the reduction in the area of the lowerполосы Боллинджера (117.49) Н4: Flat range 120.42-121.34 Н1: since we have horizontally lined envelopes, it confirms the flat character of the movement. Corridor 120.42-121.12. Expectations: Flat 120 More
10 September	One more trading period prior to a strong growth	Flat day is possible	Falling
09 September	Preparation for Northern movement	Upward correction is coming to its end	Expecting decline from 120.23
08 September	Accumulation of Northern potential	Rising flat 1.5247-1.5329	Decline to 117 figure
07 September	Flat corridor 1.1111-1.1160	Sell from 1.5270	117.73 is the target point

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Forex Technical Analysis: Trend potential

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