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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

25 - 29 Julho	weekly forecast 25 - 29 Julho Weekly Review. S&P500, Brent, Gold S&P500 Monthly: the bullish momentum remains here. However, ADX is going through correction and getting weak, so we can assume that around new Highs the index will wait for beginning of the downward correction. Weekly: breakthrough of the upper envelope is the proof of northern expectations. Mais
2016	EURUSD	GBPUSD	USDJPY
29 Julho	Growth to the 11-th figure is possible Daily chart: the pair has moved to the upper envelope Bollinger on growing ADX parameters, so the upper Bollinger band (1.1157) is the goal. Н1: at this local level, the pair is consolidated within the envelope range (1.1052-1.1107) The main scenario - growth to 1.1107 The alternative scenario Mais	A flat corridor Daily chart: the pair continues to consolidate around the middle Bollinger band (1.3175) within the flat inside Bollinger envelopes (1.2895-1.3431) Н4: a better shaped flat corridor 1.3074-1.3212 (the range of Bollinger envelopes). ADX is weak, so it is likely that the corridor will remain. Н1: Mais	Growth to 106.33 Daily chart: So far, the middle Bollinger band (104.16) is holding bears that enabling buyers to move up to 107.79 (the upper Bollinger band) Н4: a better shaped resistance is at 106.33 (the upper Bollinger band), support is at 104.16. Н1: breakthrough of the top envelope against a very active A Mais
28 Julho	Buy from 1.1031 to 1.11	A 100-points' dash to north is possible	Decline to 104.00
27 Julho	A nervous flat is possible	The corridor for finding entry points	Growth to 107.02
26 Julho	Growth to 1.1050-1.1063	Flat 1.3090-1.3153	Skipping a possible upward correction from 103.89
25 Julho	The upward correction from around 1.0939	Support is around 1.3080	A non-directional movement

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Forex Technical Analysis: Trend potential

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