potential downtrend
I'm trying to Improve my analysis of non trending markets so any feedback is welcome.
The ADX is currently indicating non trending conditions, as you can see the stochastic is approaching overbought levels whilst price is touching the top downtrend line, the money flow index is also showing a change in momentum , the rsi has yet to align with the other indicators but i suspect it will.
effectively we have what looks like a short term downtrend inside a larger consolidation zone but again i am open to feedback as this is new territory for me.
The ADX is currently indicating non trending conditions, as you can see the stochastic is approaching overbought levels whilst price is touching the top downtrend line, the money flow index is also showing a change in momentum , the rsi has yet to align with the other indicators but i suspect it will.
effectively we have what looks like a short term downtrend inside a larger consolidation zone but again i am open to feedback as this is new territory for me.
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