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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

27 February - 03 March	weekly forecast 27 February - 03 March Weekly Review. S&P500, Brent, gold S&P500 Monthly chart: index approaches new local high on week upper Bollinger band (2384.5). ADX is edging. That can indicate either preparation for new strong mid-term upward shot or reversal preparation. Trend scenario has an obvious advantage over reversal one. Weekly chart: here เพิ่มเติม
2017	EURUSD	GBPUSD	USDJPY
03 March	Another day of increasing pressure Daily chart: ADX is growing and trending, so bears may at any moment try to attack lower Bollinger envelope border (1.0470) aiming at 1.0352. The pair is not likely to go up because of the downward trend. Н4: here we see increasing pressure on lower Bollinger envelope (1.0488-1.0550). This corrid เพิ่มเติม	New drop preparation Daily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142. Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338) Н1: more localized cor เพิ่มเติม	Looking for downward entry signals Daily chart: strong resistance level around 114.66 (upper Bollinger band)may face buyers' pressure, it is evident because of ADX growth. Н4: beneath we have entry to bullish Over&Under pattern (111.81), considering overbought chart we may see downward correction towards this level. However, w เพิ่มเติม
02 March	Multidirectional trading	Target at 1.2142	200-pip extraday trading
01 March	See how the price will react on 1.0543-1.0550 region	Bearish positional advantage	Bullish O&U pattern from 112.00 region
28 February	Bullish support levels	100 pips within upward O&U	Bears have nice levels for selling

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Forex Technical Analysis: Trend potential

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