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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

01 - 05 June	weekly forecast 01 - 05 June Gold, oil and S&P500 this week S&P500 Monthly chart: we still wait when the index will reverse to correction. Marginal area is represented by the upper Bollinger band (2197.7). Weekly chart: a local flat corridor within the range 2007.8-2150.2 Day chart: even a better shaped flat area 2078.7-2142.6 Expectations: fla More
2015	EURUSD	GBPUSD	USDJPY
05 June	Daily pinbar is traded >Daily chart: So, it seems that yesterday the price started to pefrom according to O&U. We shall sale from the area 50% of pinbar (1.1290) Н4: here bulls have a potential to respond: a good Inside Bar from the middle Bollinger band can break both pin and O&U. Fight is coming. Nevertheless, only wh More	We shall sell to 1.52 Daily chart: It is 50% to 50% breakdown. Meantime bulls develop their movement, provided that structure is preserved, but there is also some attentuation. We are quite able to see leave to the bottom Bollinger band (1.5137). Н4: a strong intermediate support 1.52 (the bottom Bollinger band) Н1: on More	We shall buy from the area 124.12-124.40 Daily chart: we have got a false breakthough of Inside Bar and thereby Northern determination has been proved once again. Meawhile, target is still based on 125.88. We cannot see further, cause overboughtness is rather strong. Н4: here is a divergency of oscillator which conveyes attentuation of bu More
04 June	Waiting at 1.1390 with Limit orders prepared	We shall buy from 1.5280	Flat 124.04-124.57
03 June	Key level - 1.1137	A new phase of bulls is probably starting	We shall buy to 123.53
02 June	Today's range 1.09-1.0952	Selling pound to 1.5242	We sell to 123.37
01 June	We buy from 1.0852 to 1.1000	Trading both sides within the channel 1.5253-1.5307	Channel 123.83-124.31

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Forex Technical Analysis: Trend potential

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