ADX has a low supply and often pumps with a slight volume increase.
Currently the daily volume is rising and we have already seen a couple of very volatile pumps, i can see a few lines of trend being respected and currently price sitting on a level of demand but has already been it a few times, there is a chance we will fall to the next demand zone but hoping it gets wicked up quickly to stay with in this pitchfork channel.
40%+ push back to the top of the pitchfork but each limit line will be a level of resistance so have your own game plan on how to trade it.
If the current pitchfork trend breaks then i dont see this exact set up working.
Currently the daily volume is rising and we have already seen a couple of very volatile pumps, i can see a few lines of trend being respected and currently price sitting on a level of demand but has already been it a few times, there is a chance we will fall to the next demand zone but hoping it gets wicked up quickly to stay with in this pitchfork channel.
40%+ push back to the top of the pitchfork but each limit line will be a level of resistance so have your own game plan on how to trade it.
If the current pitchfork trend breaks then i dont see this exact set up working.
Trade closed manually
annnnnnddd where done.avg out and final target reached for 40% total profit on this trade.
We had a couple of chances to enter off this demand and using the out limit of the pitchfork we had out sell targets in mind and it played out perfectly, thanks adx.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.