DislikedI didn't take on any trades, save one that I exited out at 2 pips (the AU gave a 5 min signal at 15:00 that eventually broke through the pivot but as it was overbought massively on all timeframes bar the 4 hour, I exited.)Ignored
Regarding the stoch.....if you look at the EU Daily......you can see that it's so oversold that it's almost going underground. That doesn't mean that the PA won't go down more......it means that it would be unwise to enter a short **on that timeframe** because the trade would not be a high probability trade. If you switch to the EU H4, the stoch is not much better, so no shorts on that timeframe either. Lets have a look at EU H1......ahhhh there some pretty good opportunities on this time frame. M15 and M5 are also offering good opportunities as far as stoch is concerned.
I wouldn't dare enter short on the H4 or the Daily, but H1 and less is fine. You have to remember that the larger the time frame, the fewer the opportunities, but the larger and longer the trade will be......that's why the stoch, for our purposes, is specific to the time frame traded.
Now, if you haven't changed your trendline settings to 20, 5, I urge you to do so!!!
RJ
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