The 21 MAC channel is a great support/resistance area. Works quite well.

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NO ! My red and green lines is a MAC. (moving average channel) The green line is a 21 ma of the 'highs' - and the red line is a 21 ma of the 'lows'. The bollinger bands are white. You can see the MAC channel works better than the 50 bollinger band ...

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The aud/usd hasn't been below red line since late may/early june. If it takes out todays low and closes below we'll have a legitimate breakout on a weekly scale (friday close) That would be very bearish.

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News doesn't move markets - conditions do. Keep waiting, the news has to find out first before they report it. It'll be here soon.

EURUSD

I agree.

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France's new socialist govt wants to outcompete Greece in the 'stupid' department.

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Comparing reckless socialist debt is like comparing rotten apples to rotten apples. ALL BAD

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All bad.

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Socialism is collapsing under the mountain of debt they cannot pay.

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They need to kick France out next.

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Reversal POINTS — Look for reversal candle at one these lines.

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Read here : url

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60 min chart ADX. Getting very low while prices are near the highs of a down sloping channel and inside ichimoku cloud resistance. The low ADX reading suggests an ADX upmove (trend) is imminent. The ADX won't tell you the direction but with prices ...

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Very HIGH ADX = end of trend is nearby. At this minute the 4 HOUR ADX is in neutral territory and pointing down indicating a trendless market. A range traders paradise.

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ADX got very HIGH during the big down move. (center of chart) It turned down dramatically 9 days before the low. It forecasted the END of the TREND well in advance. Stochastics and RSI don't always show it like the ADX does. Especially on daily and ...

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Thanx

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On the other hand, an extreme low reading suggests a trending move is probably not far away. Thats all you can do is look at the probabilities. Trading is all about probabilities/odds.

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It's not a reversal indicator necessarily. However, after a substantial move and ADX (trend strength) reaches a high reading then turns down as prices move further in the direction of the overall trend, its a good sign that a reversal is imminent.

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When the ADX stops confirming a trend - LOOK OUT !!!

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ADX is a measure of trend strength. It rises in both down trends and uptrends. It is not a directional indicator.

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