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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

06 - 10 March	weekly forecast 06 - 10 March Weekly Review. S&P500, Brent, gold S&P500 Monthly chart: ADX is getting stronger and stronger, and index is getting more overbought. Bears have waited for reversal for a long time and such a set-up may be profitable for them. Of course, it is likely to take quite a lot of time considering the time frame. Weekly chart: here we เพิ่มเติม
2017	EURUSD	GBPUSD	USDJPY
10 March	Consider Buying in 1.0530-1.0560 Area Daily chart: the pair is consolidated in 1.0513-1.0668 range (Bollinger bands), while ADX doesn't react on today's Non-Farm Payrolls in any way. Will this flat remain valid all day? That's a good question. However, 150-pip region for price rotation is quite enough for euro. Н4:here we have more n เพิ่มเติม	Bears vs Bulls Daily chart: the pair keeps slipping smoothly down. Is it potential low testing? Or full-featured drop preparation? Wait and see how support around 1.2124 will react. Н4: oscillator convergence is getting more distinct, which is a reversal signal. Considering Bollinger envelopes range (1.2124-1.2 เพิ่มเติม	Bulls Decided What to Do Daily chart: bulls have finally managed to break bearish frontline and now with support of active ADX have all the chances to reach 118.24 area. The only thing that can stop them is negative NFP release because from the technical point of view we already have uptrend shaped. Н4: here we have also เพิ่มเติม
09 March	1.0492 Breakout Expectations	Bearish Potential Remains but Weakens	Rollback towards 114.04 is Likely
07 March	Easy trading today!	Sell within 1.2248-1.2119 range!	Potential Sell-Stop level
06 March	Key resistance of 1.0619	Controversial scenarios	114.58 - nice entry for selling

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Forex Technical Analysis: Trend potential

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