Hi Karthik, just a couple of observations following the discussion the other night.
Notice how in the ADX chart, the D1 and -D1 seem to crossover at the same levels as pointed by the various arrows.
As an indicator, the ADX seems rather a slow one looking at the rise in ADX between Oct 20 and Oct 21, where it has risen from 30.80 to 31.56.
Further, while on Oct 21 the ADX has risen with a corresponding fall in -D1, the D1 has dipped further, from 13.41 to 12.40. Strange isn't it...because for a reversal, D1 should be turning up and not falling further. Will be interesting to observe tomorrow.
For the same days the RSI has risen at a faster rate compared to the ADX, from 10.16 to 35.58. Meaning it is a faster, more sensitive indicator?
Also in chart RSI OCT21, the arrows point to the marks where the bottom-out was at the same level, around 10, from where the bounce came.
I have not yet been able to figure if the ADX can be used to take weely and monthly readings with accuracy.
Will catch up on this tomorrow.
Regards.
Notice how in the ADX chart, the D1 and -D1 seem to crossover at the same levels as pointed by the various arrows.
As an indicator, the ADX seems rather a slow one looking at the rise in ADX between Oct 20 and Oct 21, where it has risen from 30.80 to 31.56.
Further, while on Oct 21 the ADX has risen with a corresponding fall in -D1, the D1 has dipped further, from 13.41 to 12.40. Strange isn't it...because for a reversal, D1 should be turning up and not falling further. Will be interesting to observe tomorrow.
For the same days the RSI has risen at a faster rate compared to the ADX, from 10.16 to 35.58. Meaning it is a faster, more sensitive indicator?
Also in chart RSI OCT21, the arrows point to the marks where the bottom-out was at the same level, around 10, from where the bounce came.
I have not yet been able to figure if the ADX can be used to take weely and monthly readings with accuracy.
Will catch up on this tomorrow.
Regards.
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