Previosly I had explained What is The ADX/DMS tool of Bittrex is ?
You can find it here. ADX/DMX tools of Bittrex 1
Coin : Mona Coin
Platform : Bittrex
Algorithm : ADX/DMS
Setting: Period 14 days
Today morning, I had discussed about the application of ADX/DMS and how to try predicting
The stable condition and momentum for a upward trend/bullish.
Please see : steemXclusive-Trading 101 #1 Using ADX/DMS tool-Tutorial 2.1 for continuation .
I had predicted in the conclusion that the trend may follow downtrend if the seller short below the support region.
See support 1 in the below diagram.
Currently its undergoing resistance from resistance 1 .
If it crosses that , then there will be uptrend until resistance2.
The possibility of it crossing resistance 2 is higher .
Let's see what happens.
Update
A zoomed version reveals that the resistance is acting and the trend is about to be horizontal in nature.
As -DI is increasing and +DI is reducing, I suspect that the horizontal trend will continue for some more time!!
Please note , the prediction may be false as I have not taken into account of support regions and volumes effect.
This is just the beginning of the tutorial where I feel that systematic learning each tool and gaining mastery over their usage in combination will provide a better option for getting better at trading!
Have a great day ahead.
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