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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

21 - 25 Dezembro	weekly forecast 21 - 25 Dezembro Weekly Review. S&P 500, Brent, Gold S&P500 Monthly: the price continues to decline towards the bottom Bollinger band (1864.9) within the technical correction Weekly: more localized support 1908.0 (the bottom Bollinger band) daily: broken bottom Bollinger envelope, so now we consider only downward scenarios - either a dire Mais
2015	EURUSD	GBPUSD	USDJPY
24 Dezembro	Flat on all frames Daily chart: continued flat near the middle Bollinger band (1.0836), with a tendency to raise towards the upper band (1.1129) Н4: horizontal flat corridor 1.0836-1.0978 (the range of Bollinger envelopes). Н1: flat in the bottom envelope (1.0881-1.0916) Expectations: the price will fall to 1.088 Mais	Rising flat Daily chart: very active ADX on the background of the received IB and a continued fall of the bottom Bollinger band. This means that for market it is simpler to continue downtrend, than to implement a reversal scenario. However, support zone 1.4810 is strong and an upward rebound from it followed by Mais	Flat in the narrow range Daily chart: the bottom Bollinger band (120.38) remains magnetism Н4: active ADX, but meanwhile we can interpret its figures both in bullish and bear contexts. Key support - 120.75 (the bottom Bollinger Band). If it is broken, bears will obviously initiate another breakthrough. If we see a rebo Mais
23 Dezembro	We are looking for a buy signal	Goal - 1.4787	Rebound from the zone 120.38-120.52 is expected
22 Dezembro	Flat in the range 1.0866-1.0937	Preparation for further decline	Flat 121.00-121.48
21 Dezembro	Premarket view on the euro. Analysis of Friday's close	Premarket view on the pound. What we can expect on Monday	Premarket view on the yen

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Forex Technical Analysis: Trend potential

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