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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

11 - 15 Janeiro	weekly forecast 11 - 15 Janeiro Weekly Review. S&P500, Brent, Gold S&P500 Monthly: the index approaching strong support 1881.4 (the bottom Bollinger band), which, with high probability, will lead to a rebound toward the middle band (2029.8) Weekly: ADX is only gaining momentum, so we are still based on the same scenarip (upward bounce from the area 1881.4 Mais
2016	EURUSD	GBPUSD	USDJPY
15 Janeiro	Decline of the euro to 1.0816 Daily chart: the pair is in the horizontal range 1.0775-1.1001 Н4: local resistance is at 1.0904 (Upper Bollinger Band). Support is at 1.0816 (the bottom band). Н1: we also notice flat trading range, but with growing ADX I would not consider purchases at all. Expectations: flat corridor 1.0816-1. Mais	Flat trend Daily chart: the bottom Bollinger band dropped to 1.4336. The indicators are "exchausted", so there is a possibility of an upward bounce. Н4: a little more localized support from the bottom Bollinger band (1.4350) Н1: horizontal corridor 1.4378-1.4429 Expectations: flat trading range 1.4378-1.44 Mais	Flat Daily chart: the pair is targeting the bottom Bollinger band (116.45), ADX is strong, so in the medium-term we consider only sales. Н4: intraday we expect the flat trading range 117.38-118.30. Н1: ADX is growing, but has not reached the area of the active trend yet. Expectations: flat 117.53- Mais
14 Janeiro	Finalization of 1.0930 and then downward correction	Correction is close	We expect a rebound from the support 117.14
13 Janeiro	Test of 1.0819 and pullback	Sales from 1.4458	Sales from zone 118.00
12 Janeiro	Flat 1.0836 - 1.0880	Support around zone 1.4518	Support is at 117.18
11 Janeiro	Purchases from the zone 1.09	Finalization of zone 1.4473	Levels of support/resistance - 116.15/117.91

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Forex Technical Analysis: Trend potential

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