4 replies to this topic

[gannman]

at this point . for gld its sitting at 42.33 indicating a strong trend no ? just curious def has to be used in conjunction with other indicators

[crossd]

i've tried ADX(7) on the weekly..it's not pinpoint but when over 40 trend is very strong and warns to look

for a reversal..GDX 51 now..over 40 can be for bull or bear..

 

just look at the history on the weekly and you'll get the idea..

 

donc

[gannman]

Thanks much appreciated

[tria]

GM, I use the ADX as follows, apart from judging the strength of the trend.:

When I see price making 3 lower lows but the ADX-BROWN line making 3 corresponding lower highs,

that chart has my full attention. Looking to get long.

Conversly when I see price making 3 higher highs but the ADX-GREEN line is making 3 corresponding lower highs

that chart has my full attention, if I am bearishly biased mind you.

For example look at how the ADX-Brown line acted in October 2014, in July 2015 and in Dec 2015

relative to lower CEF price lows. I do the same with daily charts as well.

 

BTW, in that weekly CEF chart below, I think there is a small 5th wave missing to finish up wave 1.

 

 

 

 

[tria]

and it was one of the main reasons that I posted in late Dec last year to:

 

Buy Gold be4 it is 2late.