ADX still looking strong

Oct 29, 2017

Adex managed to hold its 0.618 retracement from the breakout pretty nicely. Coiled up a bit to reset momentum and looks like to be trying to make its way above the trend again. It is meeting resistance on the 0.5 which is quite common back up on this extension now however these markets do their best to shake people off; they are true bull rides. High time frame stochrsi looks strong, especially the 3d which is a good sign for the move to come. The next resistance would be likely found in the 26k+ zone which aligns perfectly with the 1.61 extension fib. Fundamentals will most likely support this technical move and volume seems enough to feed many people.

Oct 29, 2017

Note

ADX had an unpredictable news bomb that their product release wont be happening in the short term. Things like this cant be seen. The market does look strong however, old buyzone still remains as shown in the green above if you arent in the trade.