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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 Agosto	weekly forecast 01 - 05 Agosto Weekly Review. S&P500, Brent, Gold S&P500 Monthly: growth without active ADX. This could mean a lack of bullish potential. Weekly: an ambiguous picture. Bollinger bands are curved with the northern orientation, whereas ADX/RSI can be treated in favor of the opposite direction. Daily: local resistance is at 2203.1 (upper Mais
2016	EURUSD	GBPUSD	USDJPY
05 Agosto	We should sell on surge to 1.12 Daily chart: the pair is aimed at the upper Bollinger band (1.1205), and the movement has no trend signs Н4: around psychological resistance 1.12 we notice a bearish pattern Over&Under. You can put sell limit orders with a stop loss above the recent highs. Н1: at this local level we see the Mais	The range 1.3067 - 1.3143 Daily chart: the pair has predictably remained within the flat trading range inside Bollinger envelopes (1.2950-1.3392), having bounced off the upper Bollinger Band. Н4: at the local level the price is concentrated inside the bottom envelope (1.3067-1.3242) Н1: magnetism from support 1.3067 (the Mais	Another decline is expected Daily chart: yesterday a false upward breakdown of the inside bar was received. In the middle of the bottom envelope is not the strongest setup for trading. But we have what we have, therefore, the main expectation is a drop in the direction of 99.62 (the bottom Bollinger band) Н4: a better shape Mais
04 Agosto	Sales to 1.1076	Lull before the storm	Growth!
03 Agosto	A new start of surge is possible	The range 1.3313 - 1.3368	Psychological support 100.00 is at risk
02 Agosto	Ready for bullish distribution	Flat continues	A continued drop
01 Agosto	Another upward dash after downward rollback	100 points' flat range	A descending flat

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Forex Technical Analysis: Trend potential

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