An ADX Tip. :)Hello traders! I'm back from a few years away and found a little nugget on ADX in my trading notes which I wanted to share with you. As you may know I have focused the majority of my attention on candlestick analysis using Steve Nison training material. In one of his courses I have written down this quote by a significant trader he talks about sometimes,
" Some of the best buy signals are found when ADX is below 15 and begins to rise. " - Chuck Lebeau
Having seen that quote I brought up TradingView and found the most recent occurrence of that happening on the asset I was analyzing on the Weekly chart and look what I found:
Steve Nison teaches a strategy called "Trading the 9" which involves the 9, 20, & 50 period moving averages. Look, there was a Golden Cross of all of them exactly when ADX crossed above 15! Outstanding! Maybe look at adding an alert on the assets you watch for ADX crossing above 15! :)
