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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

24 - 28 August	weekly forecast 24 - 28 August S&P500, oil, gold S&P500 Monthly chart: an intensive correction began , which had been suggesting itself for a long time. The price has almost reached the main line of trend support - the middle Bollinger band (1966.4), breakdown of which will almost certain bring the price to fall to 1779.3 (the bottom B เพิ่มเติม
2015	EURUSD	GBPUSD	USDJPY
28 August	Intraday range 1.12-1.1288 The daily chart: the price almost reached the general target of correction - the middle Bollinger band (1.1117). We learn today if Bears finish off this zone, or release the pair to reach the new wave of growth in the next week. Н4: decline to 1.1117 looks as a preferred option. ADX is active. Н1 เพิ่มเติม	Signs of weakening of bears The daily chart: the bottom Bollinger envelope has been broken, but it reached a strong support zone 1.5773. Therefore, it is likely that a rollback up to the middle zone Bollinger band (1.5589) approaching, from where bears will attack to bring the price in the medium-term down again. Н4: support เพิ่มเติม	Flat 120.81-121.48, but with an eye to 123.16 The daily chart: a continuing upward correction. Its potential is limited to the middle Bollinger band (123.16), where we can sell again. Н4: active local ADX also contributes to developing of the area 123.16 by buyers. Н1: this day flat is possible 120.81-121.48 Expectations: So, we wait for fla เพิ่มเติม
27 August	Sell from 1.1410	Resistance 1.5575, support 1.5385	Purchases after decline to 119.58
26 August	Wide trading range (200 points)	Purchases from 1.5627-1.5653	Two scenarios
25 August	Working levels - 1.1515 and 1.1660	Purchases from 1.57 to 1.5806	A new decline towards 117.55 is possible
24 August	Decline from current levels is expected	Flat range 1.5634-1.5717	There are signs of exhaustion of the downward movement

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Forex Technical Analysis: Trend potential

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