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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

18 - 22 July	weekly forecast 18 - 22 July Weekly Review of S&P500, Brent and Gold S&P500 Monthly: the index is rising against low ADX. Thus, resistance can be around the upper Bollinger band (2176.2) and a downward rebound towards the middle line (2049.8) is possible. Weekly: resistance is at 2161.8-2176.2. Here ADX is attacking, so a breakout to new highs is equally เพิ่มเติม
2016	EURUSD	GBPUSD	USDJPY
22 July	Flat range Daily chart: ragged flat within the bottom Bollinger envelope (1.0929-1.1086). ADX is very weak and corrective, which means there are no prerequisites for changing the situation. Н4: a better shaped horizontal corridor 1.0983-1.1086 Н1: an even better shaped flat range 1.0997-1.1040. If the corr เพิ่มเติม	Flat 1.3174 - 1.3253 Daily chart: a continued consolidation of the price around the middle Bollinger band (1.3291) and no technical signals of change in this trend yet Н4: a horizontal range within Bollinger envelope (1.3074-1.3291) Н1: an even better shaped flat corridor 1.3174-1.3253. ADX is rising, but still weak เพิ่มเติม	Decline Daily chart: a well expressed bearish momentum from the upper Bollinger band (107.64) and growing ADX making the fall to 103.73 (middle Bollinger band) and 99.91 (the lower Bollinger band) much likely in the future. Н4: a flat zone within the envelopes 105.28-107.09 Н1: pressure from ADX indicat เพิ่มเติม
21 July	Sales from around 1.1020	Equiprobable scenarios	Look for the entry points into purchases again!
20 July	Still moving down	Looking for the entry points into sales	Buy around 105.72
19 July	Buy to 1.1128	A flat range 1.3215-1.3280	Buy from 105.71
18 July	Zone of potential supply - 1.11	Looking for downward entry points	Sales

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Forex Technical Analysis: Trend potential

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