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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

16 - 20 November	weekly forecast 16 - 20 November Weekly report on Brent, Gold and S&P500 S&P500 Monthly chart: as we see, a downward correction (threatening to turn into a full turn) began even before we assumed - the upper Bollinger band (2169.5) remains unfinished. However, we know about the previously broken inside bar, so technically retest of the broken the upper wall can เพิ่มเติม
2015	EURUSD	GBPUSD	USDJPY
20 November	Corrective decline in the 6th figure Daily chart: the pair is exactly in the middle of the bottom Bollinger envelope, so with equal probability we can expect both direct decline in the area of the bottom band (1.0570, red arrow) and pre-touch of the middle band (1.0844, blue arrow). Н4: horizontal envelopes with weak ADX - all this เพิ่มเติม	Intraday sales to 1.5231 The daily chart - the middle Bollinger band (1.5280) has been reached, from where there are only two routes: either the upper band (1.5474, the red arrow), or to the bottom (1.5068, blue arrow). Н4: the inside bar and the upper Bollinger band round 1.53 level, plus weak ADX - a notable sign of corr เพิ่มเติม	Perhaps, rebound from the level of 122.66 Daily chart: Still Northern orientation of the pair. Support is at the middle Bollinger band (122.10), possible target - 124.16 (the upper band) Н4: bearish divergence of oscillator, therefore, after touch of the upper Bollinger band zone (123.67) we can expect decline to 122.10. It is unlikely th เพิ่มเติม
19 November	The day can be spent in the flat 1.0625-1.0678	We expect decline to 1.5188	Downward correction is coming
18 November	High probability of the upward rollback	40 points' flat	Key support is 123.15
17 November	Goal for the Euro - 1.0542	Only sales	The possibility of downward correction from zone 124.00
16 November	Premarket review on the euro. Analysis of Friday's close	Premarket on the Pound. What we can expect on Monday	Premarket view on the Yen

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Forex Technical Analysis: Trend potential

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