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…
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…
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…
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…
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.…
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.