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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

22 - 26 Junho	weekly forecast 22 - 26 Junho Weekly review of S&P500, oil, gold S&P500 Monthly chart: As we see, the index has been moving upward with a notable acceleration, so the last trend line is helpful for forecasting. Any correction towards the middle Bollinger band (1953.9) contains potential for a downward reversal. Meanwhile, the upper Bollinger band (2196 Mais
2015	EURUSD	GBPUSD	USDJPY
26 Junho	Trying to buy Daily chart: consolidation of the price continued and yesterday we have received Inside Bar and new narrowing of envelopes. In the upper side there is a potential zone of the offer 1.1391 within the frames of O&U pattern, so in general we will be waiting for Euro in this part. Though passive ADX c Mais	Waiting to buy at 1.57 Daily chart: the upper Bollinger band has raised even higher to 1.5988, which can perform as the target in the middle run. Since ADX is not ready yet, a local consolidation can continue today. Н4: narrowing of Bollinger envelopes , which can anticipate impulse. Support на 1.5667, resistance is 1.58 Mais	Growing to 124.15 Daily chart: flat status of ADX speaks for continuation of a local consolidation. Н4: the bottom Bollinger band looks very sustainable (123.29), which enables growth to the upper line (124.15) Н1: resistance is 123.53, 123.74, support 123.29. Expectations: steady growth to 123.53, 123.74 и, возмо Mais
25 Junho	Flat is possible 1.1180-1.1225	Sell from 1.5745	Flat
24 Junho	Waiting when euro in the area 1.1294 and sell	Northern dynamics, but with a strong resistance based at 1.5817	Purchases from 123.72 are possible
23 Junho	Get ready to buy from 1.1190	Flat is possible	Waiting movement to the North

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Forex Technical Analysis: Trend potential

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