Monday, April 20, 2015 7:33:04 PM
What I've found after doing this for a 12 or 13 years is the actual numerical ADX is what is important.
With an ADx 27 or 30, even if you shorten the chart up to look like you've gotten a pincher, you set yourself up for a repinch and very little bounce. Anything can happen. RUSS could run to the moon tomorrow. But the odds only get high after the ADX has reached the high 40s. 55 or 60 is extreme and very high odds.
For instance, I could have shortened this MDW chart back up to Mar 9th and had a visually tight pincher with an ADX at 30, bought and I never would have even broken even.
Personally, I have my PPO/ADX convergence scan set for 45 or higher.
I don't even start follow a chart with a lower ADX. I'm assuming posters here want the highest odds of success, not just 50/50%.
There are plenty of high odds pinchers in play to be found.
With an ADx 27 or 30, even if you shorten the chart up to look like you've gotten a pincher, you set yourself up for a repinch and very little bounce. Anything can happen. RUSS could run to the moon tomorrow. But the odds only get high after the ADX has reached the high 40s. 55 or 60 is extreme and very high odds.
For instance, I could have shortened this MDW chart back up to Mar 9th and had a visually tight pincher with an ADX at 30, bought and I never would have even broken even.
Personally, I have my PPO/ADX convergence scan set for 45 or higher.
I don't even start follow a chart with a lower ADX. I'm assuming posters here want the highest odds of success, not just 50/50%.
There are plenty of high odds pinchers in play to be found.
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