Here are the list of why I'm buying based on 1 hour timeframe:
1. +Di is above the ADX and -DI.
2. As of now, we can see that the -DI will go below ADX which is very bullish indicator.
3. The slope of ADX also counts. The slope of ADX is preparing to go higher.
4. The 25 SMA and 100 SMA will cross.
It is very short term and the trend can quickly reversed because it's only 1 hour chart. the trade will last for 1-3 days.
My take profit indicator is when my +DI go below the ADX just like on my previous trade. (see link to related ideas)
1. +Di is above the ADX and -DI.
2. As of now, we can see that the -DI will go below ADX which is very bullish indicator.
3. The slope of ADX also counts. The slope of ADX is preparing to go higher.
4. The 25 SMA and 100 SMA will cross.
It is very short term and the trend can quickly reversed because it's only 1 hour chart. the trade will last for 1-3 days.
My take profit indicator is when my +DI go below the ADX just like on my previous trade. (see link to related ideas)
Comment:
I closed my position because I forgot to wait for the ADX to 25-30 level. I suffered a loss.
