The Average Directional Index, or ADX, is the trend strength indicator. It helps judge how strong a trend is. The indicator is based on a moving average of price range expansion over a given period of time. The indicator automatically includes three lines: ▪️ ADX itself. Its values range from 0 to 100. This line … Read more
The Momentum technical indicator measures the amount that an asset’s price has changed over a given period of time. The indicator’s formula compares the most recent closing price to a previous closing price. If Momentum reaches extremely high or low values (relative to its historical values), the odds are that the current uptrend/down will continue. … Read more
This tutorial begins a series of how to apply Elliott wave analysis for practical trading strategies. All subscribers have some Elliott wave background from my Dynamic Trading book. Because that book goes through the pattern structures in detail, there is no need to repeat that information in this tutorial series. It is assumed for this … Read more
The Fibonacci series are a mathematical sequence in which any number is the sum of the two preceding numbers. The sequence goes as follows: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and so on. The properties of this sequence appear throughout nature and also in the arts and sciences. Most notably … Read more
Channeling is an important tool not only to determine which sub waves belong together, but also to project targets for the next wave up. Channels are parallel lines, which more or less contain the complete price movement of a wave. Although the trend lines of a Triangle are not parallel lines, they will also be … Read more
Description These are mentioned under the Triangles description in the Classic patterns section. Basically these patterns are the same as common contracting triangles, except for the fact that ascending and descending triangles slope up or down.