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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

20 - 24 July	weekly forecast 20 - 24 July Weekly review of S&P500 index, oil and gold Monthly chart: bulls bolted off to work on the upper Bollinger band (2190.6), but ADX is persistent in its decline, so we are waiting for a downward reversal. Weekly chart : Divergence is one more proof of weakening of bulls. We also note ADX/RSI. Day chart: Northern pressure has been preser เพิ่มเติม
2015	EURUSD	GBPUSD	USDJPY
24 July	Flat 1.0963 -1.1006 Daily chart: the middle Bollinger band (1.1026) has been reached and, in contrast to descending envelopes and passive ADX, we can expect decline to the bottom band (1.0784) prior to a new upward dash. Н4: Local support is on 1.0933. As we see, one more test of 1.1026 is possible. But ADX is not cor เพิ่มเติม	Corridor 1.5466-1.5531 Daily chart: accumulation around all three bands from three frames continues. Here we have a descending dynamics towards the bottom Bollinger band (1.5374) Н4: weak ADX. We expect flat within the bottom envelope (1.5491-1.5562) Н1: a better shaped resistance from the middle band (1.5531). Meanwhil เพิ่มเติม	Flat 123.73-124.03 Daily chart: flat within the upper envelope (122.21-124.96) continues, whereas the spin axis is around 124.00. ADX parameter is not sufficient to replace current tendency. Н4:here is also flat 123.57-124.42 Н1: intraday corridor range 123.73-124.03 Expectations: flat 123.73-124.03 Trading decisio เพิ่มเติม
23 July	Looking for growth to 1.0959-1.0978 and decline to 1.0881	Looking to buy around 1.5552	Flat 123.85-124.15
22 July	Waiting for a pullback from the area 1.0978 and then we shall buy again	Flat 1.5544-1.5573	Selling from the area 124.14
21 July	Support is possible around 1.0789	Flat 1.5540 -1.5600	Key resistance 124.38

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Forex Technical Analysis: Trend potential

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