Sawyer170

Bullish continuation triangle on daily

Long
AMEX:TMF   Direxion Daily 20-Yr Treasury Bull 3x Shrs
With the daily RSI in oversold territory 30 rsi and the MACD looking as if bottomed ready to rebound in unison with the rsi.. dmi/adx will reverse with green dmi+ crossing up above the red dmi- and the yellow adx rising above 25 signaling strong upwards trend strength..this will play ouy.. what's happening now is the ADX currently at about 18 is signaling a very weak current trend strength signaling a due for a change in direction any time now, that being from going down to going up.. as the trend changes the rsi will rise accordingly to price action typically to overbought territory at the 70 rsi which signals a change to the downside once it is crossed up and then back down or bounced off of... when the rsi is above 50 it is showing current trend strength non directionaly.. with the spy dropping and the dxy rising with the vix it looks as if this will rise as well. Comparing all these indicators at the same time is the best way to confirm trend direction and trend change and strength.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.