Written by:
Patrick Mikula CTA
Mikula Forecasting Company
www.MikulaForecasting.com
support@MikulaForecasting.com
Copyright © 2009 by Patrick Mikula All Rights Reserved
Here is a third example of the ADX pattern shown in the previous two postings. The chart below is a daily chart for Dentsply International, stock symbol XRAY. The pattern we are looking for has these two features. First the ADX line is above the Trend Level and the higher the ADX line the better. Second the DI- line is above the DI+ line and the higher the DI- line the better. When this pattern occurs it indicates the market is making a bottom.
On the chart below at point “A” we can see this pattern forming. The ADX line is above the Trend Level and the DI- line is above the DI+ line. At point “A” the market made a bottom.
XRAY and the ADX Pattern
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