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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 an author of the method.

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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

16 - 20 January	weekly forecast 16 - 20 January Weekly Review. S&P500, Brent, gold Monthly chart: an issue "Where is the S&P's highest?" remains on the agenda. There are no answers yet. The only thing we can say is that bullish intentions are not supported by ADX, it increases the possibility of reversal to the downside. Weekly chart: there might be resist เพิ่มเติม
2017	EURUSD	GBPUSD	USDJPY
20 January	Quiet End of the Week Daily chart: ADX remains passive, so the pair is unlikely to go beyond upper Bollinger envelope borders (1.0540-1.0710) Н4: here we see the same situation: the price is inside more localized horizontal corridor (1.0574-1.0710), ADX is absolutely indifferent to anything today. Н1: locally bears e เพิ่มเติม	Bulls slowed down Daily chart: ADX is correcting to the downside firmly, so break of upper Bollinger envelope (resistance at 1.2431) is not likely today. A drop towards lower band (1.2080) is more likely to start today. Н4: upper Bollinger band is edging higher than daily chart resistance, so there is a risk of up เพิ่มเติม	Nice entry point for selling Daily chart: it seems that upward correction is almost over. The correction reached middle Bollinger band region. Here we have a good spot to start decline towards 113.25 (lower band) Н4: strong resistance level in 115.43 region (upper Bollinger band) shows distinct potential for the downside yet เพิ่มเติม
19 January	Drop towards 1.0572	Selling towards 1.2080	We expect new down move from 115.14
18 January	Upside signal counter local correction	1.2200-1.2428 Range	New signal for selling
17 January	1.0610-1.0684 Range	Upward correction may be continued	Consider selling from 114.0
16 January	Strategic barrier at 1.0679	Consider selling after upward correction finished	We expect new decline

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Forex Technical Analysis: Trend potential

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