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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

31 August - 04 September	weekly forecast 31 August - 04 September Weekly review of S&P500, gold and oil Monthly chart: need to wait for the closing of the month bar to see the real reaction of the index to the important support from the middle Bollinger band (1971.8). ADX/RSI still retains a corrective configuration that leaves bulls a chance for revenge. Weekly chart: intensive return to the a More
2015	EURUSD	GBPUSD	USDJPY
04 September	We consider sales from 1.12 The daily chart: Euro has been brought to the lower envelope, so you can expect a gradual decline to the lower Bollinger band (1.0858). Resistance, on which you can find the entrance to a movement - is the middle Bollinger band (1.12) Н4: middle line within this frame - 1.1219. Local support - 1.11 More	Signs of weakening of bearish pressure The daily chart: continued pressure in the direction of the strong support 1.5178. Н4: in turn, here we see a a developing convergence, which, as a rule, weakens bearish trend. Confirmation would be rise to the upper Bollinger line (1.5377) Н1: local resistance - 1.5281 and 1.5295. Support at 1.5 More	Upward correction prior to main phase of decline The daily chart: decline to the lower Bollinger band (117.84) continues. Н4: active building of ADX potential, so, after a brief upward correction, you can expect resumption of the fall. Н1: bullish convergence may trigger a rollback in the area of 120.56 (the upper Bollinger band) Expectations More
03 September	Flat 1.1197-1.1270	Bounce from 1.5240 to 1.5341 is possible	Sales from 120.70
02 September	Perhaps, 1.14 is going to be reached	Correction to 1.54 is possible	Selling from 120.77
01 September	Flat 1.1189-1.1256	Expecting a bounce from the area 1.5318 by 100 points	Working for a drop
31 August	Premarket view on the euro	Premarket view on the pound	Premarket view on the Yen

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Forex Technical Analysis: Trend potential

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