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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

25 - 29 May	weekly forecast 25 - 29 May Weekly report on Brent, Gold and S&P500 S&P500 Monthly chart: Situation remains the same: the price has the tendency to hit 2200.1 and with a high probability, to receive a middle-term downward correction. By little, bulls are taking hook, whereas bears are shotting their guns. Weekly chart: ADX is weak so we don't ex เพิ่มเติม
2015	EURUSD	GBPUSD	USDJPY
29 May	10th figure may be attacked Daily chart: Envelopes are stable, so the tendency is expected providing a roll to the upper side to 1.1390. As of today, a terminate target is the middle Bollinger band (1.1160) Н4: We also note horizontal Bollinger bands, so today we may have a fight for a breakthrough above the upper band (1.09 เพิ่มเติม	We sell from 1.5305 Daily chart: The pair continues its steady decline in the direction of the bottom Bollinger band (1.5041) Н4: local supprot is 1.5251 (the bottom Bollinger band) and just yet weak ADX. It can lead to a pullback to the middle band (1.5354) Н1: here we see breaktrhough of the bottom envelope and con เพิ่มเติม	Marginal range for growth 124.15-124.58 Daily chart: The pair is getting for correction in the direction of the middle Bollinger band . Upon that, an upward movement was notable, so to sell, one need to receive an additional signal. Н4: the upper Bollinger band - 124.58. Н1: Even a better shaped resistance - 124.15. Support is represen เพิ่มเติม
28 May	Breakthrough to 1.1021 is possible	We buy to 1.5504	Growth to 124.48 and downward correction
27 May	Sell from 1.0989 and buy from 1.0895	Wait touch of 1.53 and growth to 1.5472	We buy from 122.68 to 123.24
26 May	We shall buy Euro from area 1.0873-1.0900 to target 1.1051	Targets below are to be reached and fight is coming	Buy on bounces

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Forex Technical Analysis: Trend potential

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