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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 Fevereiro	weekly forecast 01 - 05 Fevereiro Weekly review: S&P500, Brent, Gold S&P500 Monthly chart: the index “bounced” from the bottom Bollinger band but it barely changes the full tendency for the reverse down. Weekly chart: strong resistance in the zone of the middle Bollinger band (2004.1), we wait for the bounce down. Daily chart: we note the resistance zone Mais
2016	EURUSD	GBPUSD	USDJPY
05 Fevereiro	Wait for correction from 1.1258 Day chart: the pair had a raise after breaking of upper Bollinger envelope, that’s why both scenarios are equally (black/red arrows). H4: the pair didn’t test upper Bollinger band (1.1246). And the price is expected to move downwards to middle Bollinger band (1.1006). H1: the price is going toward Mais	Wait for decline to 1.4372 Day chart: as we can see, upper Bollinger band is a strong resistance level, so we can wait for pull back to middle Bollinger band (1.4372) H4: there is a local support at 1.45 (middle Bollinger band), but the price may go towards 1.4322- 1.4372 zone. H1: ADX is active and low envelope is under at Mais	Buy JPY Day chart: so, the price has achieved bullish O&U, so the main scenario is prive moving to upper Bollinger band (120.51), and then even more to 123.00. H4: local resistance is 118.74 (middle Bollinger band). H1: there is a bullish oscillator convergence here . Local support is located at 116.52, r Mais
04 Fevereiro	Wait for downward correction	1.4632-1.4677 resistance zone, 1.4510 support level	Wait for 116.50 level and buy in middle term
03 Fevereiro	Soon the price will dash upwards	Flat	An almost 200-points' potential to drop
02 Fevereiro	Buy euro	Buy from 1.4286-1.4316 zone	Short positions from 120.89
01 Fevereiro	Key resistance level of 1.0849	1.4248-1.4301 flat	Lowering flat

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Forex Technical Analysis: Trend potential

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