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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 Setembro	weekly forecast 21 - 25 Setembro Weekly Review. S&P500, Brent, Gold S&P500 Monthly chart: a continued correction in the direction of the lower Bollinger band (1794.2). We can not exclude formation of the inside bar in September. Weekly chart: a classic false breakdown of IB also indicates readiness of the index to decline to 1794.2. The daily chart: Mais
2015	EURUSD	GBPUSD	USDJPY
25 Setembro	Two Buying Areas The daily chart: consolidation continues within the Bollinger envelopes (1.1080-1.1388) and, apparently, resolution of the situtaion is coming for the next week. Н4: a narrower flat range of 1.1093-1.1267. We expect touch of the bottom Bollinger band (1.1093) and rebound. Н1: horizontal envelopes Mais	Signs of weakening of bears The daily chart: a very important support at the lower Bollinger band (1.5147). It can either make the pair bounce off in the area of the middle band (1.5350) or let bears move to 1.4964. Н4: lower local support at 1.5133 (Lower Bollinger Band) Н1: rather well expressed bullish convergence of Mais	There is a local trend potential The daily chart: the pair was heavily bought from the bottom Bollinger abnd (119.06) and, given anticipated activity of ADX, it may surge to the top line (121.43) Н4: flat range 119.60-120.63 Н1: trend activity from ADX and we interpret this as a bullish argument. In the event of a break above 120 Mais
24 Setembro	Signs of movement to the North	A possible attacks of bulls	Flat 119.95-120.40
23 Setembro	Bears are taking an advantage	With the breakdown of support 1.5295 target will be 1.5166	Flat 119.71-120.47
22 Setembro	Intraday support - 1.1156	Probably, a flat day	Possible area of sales - 121.26
21 Setembro	Premarket review on the euro. Analysis of Friday's close	Premarket review 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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