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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

02 - 06 May	weekly forecast 02 - 06 May Weekly Review of S& P500, Brent, Gold Monthly: So far, the downward structure remains relevant, so we expect beginning of the downward movement in the direction of the bottom Bollinger band (1907.8) Weekly: confirmation of the downward movement - a significant rebound from the strong resistance zone 2111.7. Goals are 1907. เพิ่มเติม
2016	EURUSD	GBPUSD	USDJPY
06 May	Euro in anticipation of the NFP release Daily chart: support around the middle Bollinger band (1.1359) remains untested, which is likely to happen. A new attempt to grow to the upper band (1.1522) will be made Н4: a technical correction in the direction of the middle Bollinger band (1.1482). Support is at the levels 1.1359-1.1376 Н1: เพิ่มเติม	A possible support for the pound today - 1.4390 Daily chart: support area 1.4390 (middle Bollinger band) is waiting for the pair. Without a pressure of today's news background, a further rebound to the upper band (1.4731) would be possible. Will today's fundamental analysis confirm the technical analysis? Let's see. Н4: the pair is clamped ins เพิ่มเติม	A potential area of supply on Yen - 108.71 Daily chart: a continued technical correction in the direction of the middle Bollinger band (108.71). We assume that from this area a new decline towards 105.91 (the bottom band) will start. Н4: a horizontal corridor within Bollinger envelopes (105.82-107.70). NFP release increases an extent of u เพิ่มเติม
05 May	Flat with possible surprises	Decline will continue	Expect a downward bounce from 107.36
04 May	An ambiguous situation on the Pound		Purchases within the frame of the bullish O&U pattern
03 May	80-points downward correction from 1.16	An outright bullish trend, but with a high probability of a downward rollback	We sell to 104.50 and buy from 104.41

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Forex Technical Analysis: Trend potential

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