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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

03 - 07 August	weekly forecast 03 - 07 August Weekly review: S&P500, oil, gold. S&P500 Monthly chart seems to be the last dash made bulls . Limit - the upper Bollinger band (2180.4). Not later than the zone index will fall down, the minimum - in the middle band (1966.4) Weekly chart is much more localized resistance - 2136.9 (the upper Bollinger band). Support - 20 More
2015	EURUSD	GBPUSD	USDJPY
07 August
07 August	1.0986 is the target Day chart: we've got a continued flat of the pair, now in the zone of middle Bollinger band (1.10). We are still waiting for finalization of the "bottom" in the area of 1.0825, where bullish O & U is waiting for its turn . Н4: a strong resistance in the zone of 1.0986 (Upper Bollinger band) can reject the euro down in the zone 1.0848 and possibly by pin and 1.0825. Н1: bullish mood. Support i
06 August	Target 1.0960	Range 1.5586-1.5651	We shall buy from the area 124.20
05 August	The bottom will be finalized	Trading in the range 1.5556-1.5628	Purchases from 124.07
04 August	The day is probably going to be dull	We do not expect much volatility today	Flat as a preparation for decline
03 August	Flat 1.0930-1.1059	Selling from the area 1.5553-1.5562	Flat day

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Forex Technical Analysis: Trend potential

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