8 minutes ago
Just some personal notes on my observations using ADX /DI.
A few things:
- ADX /DI is a oscillator, only indicates strength in move in either bullish or bearish directions.
- Red line ADX above 25 is a good rule of thumb for deciding whether the trend is strong or weak.
- Indicators are fallible, ALWAYS use in conjunction with other indicators. S/R...
decent short term support at .23, that coincides with trenline. perfect wick bounce at converging trendline. All eyes on next few hours, as extremely tight - while bulls have shown control, potential runout of steam. Stop loss should be set right under or at 11600