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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

27 - 31 Julho	weekly forecast 27 - 31 Julho Weekly review: gold, S&P500, Brent oil S&P500 Monthly chart: scenario of reversal is justifying itself. Northern marks are still achievable, but the bullish momentum has depleted to a notable extent. Weekly chart: support on the bottom Bollinger band is still relevant (2048.4). It seems, that a further decline appears to be pos Mais
2015	EURUSD	GBPUSD	USDJPY
31 Julho	Passing moves with local advantage of bulls Daily chart: the pair is moving within the Bollinger envelopes, being "surrounded" by two colliding O&U s - from north it is from 1.1110, from south it is coming from 1.0825. Н4: a similar situation. Two paths: a decline to the middle 1.0825 Bollinger band (1.1011), either rising to the northern O Mais	Keep selling Daily chart the price has a well-shown tendency to reduce to the bottom Bollinger band (1.5403) Н4: intermediate support at 1.5558 may slow down bears, but not cancel the general decline. Н1: also confirms a possible demand for the pound at the price of 1.5558. Expectations: decline to 1.5403, Mais	Target is at 125.17 Daily chart: the upper Bollinger band rose even higher - at 125.17 and now this mark is an actual target for growth. Н4: local resistance is on 124.47 Н1: confirms resistance at 124.47 and a possible breakout of the upper envelope against this level can take place. Expectations: So, we wait for Mais
30 Julho	Possible strong support around 1.0936	British Pound generally targets 1.54	We shall buy to 125.09
29 Julho	Possivle support around 1.10, and a growth towards 1.11	Support 1.5579, resistance 1.5630	Flat 123.36-123.77
28 Julho	Looking for short signals from resistance 1.1140 or 1.1224	We wait for growth towards 1.5640 and shall sell from there	In the event of a rollback to 123.70 we should sell
27 Julho	Purchases from 1.0977	Buying from 1.5509 to 1.5646	Selling from 123.70

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Forex Technical Analysis: Trend potential

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