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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

12 - 16 September	weekly forecast 12 - 16 September New Review. S&P500, Brent, Gold S&P500 Monthly: From the upper Bollinger band, the index set itself into a downward dive. Now the two support lines are on its way - 2062.8 (middle Bollinger band) and 1928.3 (bottom band). ADX is weak, so from any one of them the index can bounce up. Weekly: two intermediate support lin เพิ่มเติม
2016	EURUSD	GBPUSD	USDJPY
16 September	Flat continues Daily chart: ADX parameters have changed only slightly, therefore, with high probability, potential around the middle Bollinger band (1.1250) will continue on Friday. Н4: a horizontal corridor inside Bollinger envelopes (1.1215 - 1.1250). ADX is passive and shows correction, so we do not expect t เพิ่มเติม	Northern accumulation Daily chart: yesterday bulls did not allow the price to test the lower Bollinger band, indicating that the overall structure is maintaining northern character. But ADX is completely passive and corrective, so the upward movement may be multi-directional. Н4: local resistance is at the middle Boll เพิ่มเติม	Flat range Daily chart: The pair continues to consolidate at the middle Bollinger band (102.28). Indifferent ADX and stable Bollinger envelopes suggest that this trend will continue today. Н4: a horizontal corridor inside Bollinger envelopes (101.54 - 103.01). Bands are stable. Borders of the flat represent เพิ่มเติม
15 September	Preparation for impulse	Looking for upward signals on decline	Flat
14 September	A calm 35 points' range	Two resistances lines for bears	Entry points into purchases around 102.47
13 September	Another flat day	Limited growth potential	Perhaps, bears will continue their efforts
12 September	Scenario for Monday	Catching Sell signals	Multi-directional movement

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Forex Technical Analysis: Trend potential

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