ADX
Technical Call : Short Axis BankChart of Axis Bank is suggesting weakness in stock price in coming days. Stock has closed below all short and long term moving averages. Additionally RSI and ADX has given negative divergence on both daily as well as weekly charts.
One can initiate short position on stock between 483-487 levels with stop loss of 521 (last up swing move) for target of 450 in coming 4-6 weeks.
Price penetrated EMA20, go longADX above 30, price has retraced to the EMA 20, potential for spring back up!!!!!
Identify Exploding Momentum QuicklyHi fellow traders,
I have published a new script to assist you in trading.
As day and short term traders, we need strong movement,
hence,
to save our time and
allow us to trade only when we expect a lot of movement,
I have built this script.
Simple Rule : Trade when it enters green zone. That's it.
Avoid trading when in red zone and preferably, blue zone too.
You can find the script and further explanation when you click on the picture below.
Also, you can find it in related ideas mentioned.
You can use this by 2 ways :
1. Copy Paste the code on the script page in 'Pine Editor' and select 'Add to Chart'.
2. Select Indicator on your chart, and search for ADX Color Easy.
Note : On the main chart of the EURUSD in this idea, I have marked the time when ADX entered the Green Zone, with vertical blue lines.
Entry and Exit strategy is according to you ( you can combine this with various other strategies ), the objective of this is to instantly identify trend strength without any effort.
P.S. It works best on 1H tf for me.
Thanks.
Glad to help.
LONG IDEA IF PENETRATE EMA 20price has penetrated ema20 2 days ago but has not sprung back. now is doing it again today. possible long buy?
shorting if price penetrates EMA 20adx below 30 uf price retrces to ema 20 i will consideer shorting and holding max 2 days
Possible buy, or wait and then buy...Looking for either a BB bounce, or for the MA Exp Ribbon to flip and for ADX to go up a bit, in which case it will be a buy. If it bounces off, then it will most likely rally for a little while (a day?) and might go up... or down... ya' never know
But seriously talking, if those BB's expand or ADX goes up, there's a big chance that will be an uptrend.
GLD Showing No Signs of LifeRejected at 8 EMA and ADX trending upwards showing strengthening downtrend.
Interesting ADX pattern to watch forDuring the past several weeks, I've noticed something evolve in crude oil on the daily ADX called a 'change in dominance'. This is where the ADX is above 20 and the +/-DMI swap dominance resulting is a 'V' type ending to a trend. The setup for the pattern was an ADX reading below 20 resulting in a consolidation in price. Then, price broke out and ADX began to move up. Then, without much of a pullback, price reversed and the -DMI crossed up over the +DMI causing the change in dominance. During this time, price was pulling back but the +DMI was still up so waiting for the two DMI's to cross would have resulted in missed trade.
Looking out across other markets now, I see a similar setup in Soybean Oil (which I'm trading on short side). If this is a similar pattern, then two of the three steps have completed and this week should see price move down.
DXY is another market that could be setting up the same pattern. It will be interesting this week to see how this plays out. Should it work, it could be an interesting pattern to tuck away for future reference
British Pound may be another candidate for this pattern.
USOIL - 1D - patternthis is what I see on TVC:USOIL chart :
- trend line forming in the middle of parallel channel
price crossing it could create hesitation.
- RSI had similiar pattern but already brake out
- ADX makes a lower high. This could indicate a sideway movement.
should wait for new trend to take place
ADX showing decreasing trendUSDCAD is currently in an uptrend. The ADX shows a decrease in the strength of the trend. This shows there is soon to be a a downtrend
EURUSD Can continue Bearish Move?I can see Momentum cross down the OBV and D- cross above the D+. Dont you think we are looking into continues bearish move of EURUSD?
Strong Short, Tronox Ltd.Very good short play on Tronox Ltd. This stock has broken its upwards trend posting a lower high after 4 higher highs in a row and it is at the top of the linear regression channel. TROX has bounced off of a resistance line and is experiencing decrease in volume. The MACD is also about to crossover to a sell signal and the Directional Movement Index is showing a downwards trend. Also, the stock is in oversold territory showing at 65 and is about to cross under the 9 Day MA.
JCP Bullish TriangleBullish triangle on the JCP chart, watch for a breakout if the price clearly passes and closes above resistance. Chart also has clear indicators of a stong trend with the DMI showing an uptrend and the Aroon showing new uptrend. Would like to see an increase on the OBV along with the others for clarification of a strong trend though.
Civeo Broken SupportCiveo has broken support, MACD shows a sell signal, DMI shows downtrend. Short until DMI shows slowdown of trend.
NeoPhotonics Corp Strong UptrendLong until DMI shows slowdown of trend, reasons for uptrend shown on chart.
Resistance Broken & UptrendResistance at $10.38 broken and turned into support, long until DMI shows end of trend.
Resistance Broken & Stong UptrendResistance has been broken and a strong uptrend is occuring. Watching the DMI to see when the trend slows down, long until then.
Resistance Broken & TrendingA very stong resistance has been broken and the ADX/DMI is indicating a very stong uptrend has started.
Erickson Inc SwingErickson Inc set up for a swing trade. Reasons shown on the chart, but several other reasons are also the RSI is gaining strength, CCI has moved up over 0, and MACD is showing a buy signal.
