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Method of using Stochastic Oscillator Profitably

  • #61
  • Mar 12, 2017 3:51pm Mar 12, 2017 3:51pm
Quoting 9jatrader
i will not go short, on the longer tf bulls consolidated
Sorry, i don't understand well what you mean with "on the longer tf bulls consolidated". If the price breaks the trendline, you are going to go long, on which TF? 4hr or daily? At the close of the candle?

I go to check the other thread, thanks
  • #62
  • Mar 12, 2017 3:52pm Mar 12, 2017 3:52pm
bollinger upper and lower bands are separated on 4hr; it may move sideways or retrace before bullish again
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  • #63
  • Mar 12, 2017 4:00pm Mar 12, 2017 4:00pm
At the beginning of this thread I said stochastic is used to follow trend. We cannot use any system to fight trend. I cannot use it to fight EURJPY either. It has been trending so strongly. Those who have been following the other thread have the setup on this pair.
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  • #64
  • Mar 12, 2017 5:13pm Mar 12, 2017 5:13pm
Quoting okrim
{quote} Sorry, i don't understand well what you mean with "on the longer tf bulls consolidated". If the price breaks the trendline, you are going to go long, on which TF? 4hr or daily? At the close of the candle? I go to check the other thread, thanks
Daily; am not focusing on the trend line
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  • #65
  • Mar 13, 2017 9:30am Mar 13, 2017 9:30am
Ok.

Look at this chart, i am focusing only on Stocastic for this example. If the actual candle closes like this, we have the stocastic showing to be in overbought condition, but until the last candle it was below 80. My question is: if the actual candle closed like this, with che stocastic above 80 is a good setup to go long? Or maybe is not good because until the last candle it was below 80?

THANKS
Attached Image (click to enlarge)
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  • #66
  • Mar 13, 2017 11:10am Mar 13, 2017 11:10am
Quoting okrim
Ok. Look at this chart, i am focusing only on Stocastic for this example. If the actual candle closes like this, we have the stocastic showing to be in overbought condition, but until the last candle it was below 80. My question is: if the actual candle closed like this, with che stocastic above 80 is a good setup to go long? Or maybe is not good because until the last candle it was below 80? THANKS {image}
I think we should always indicate the time frames we refer to each time we post our chart. From your chart I will say that the stochastic is not clearly on overbought region. The support/resistance should be visible enough.
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  • #67
  • Mar 13, 2017 1:37pm Mar 13, 2017 1:37pm
Quoting 9jatrader
{quote} I think we should always indicate the time frames we refer to each time we post our chart. From your chart I will say that the stochastic is not clearly on overbought region. The support/resistance should be visible enough.
TF is 4hr, is written on the chart. So now the candle closed with socastic above 80. Is this a setup for long trade? THANKS!
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  • #68
  • Mar 14, 2017 3:05am Mar 14, 2017 3:05am
Hi Okrim,
We have to avoid getting into position after a very long movement. Over 500 pips on 4hr. It has moved for too long. Retracement may trigger SL before going bullish again. Then you may not have the courage to get in again. If I were the one I can't join now. I might be wrong, market is always right
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  • #69
  • Mar 15, 2017 3:22am Mar 15, 2017 3:22am
GBPUSD may gradually escape. But stochastic has left oversold region and failed to break the support I pointed out ealier
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  • #70
  • Mar 15, 2017 3:26am Mar 15, 2017 3:26am
Those who have been following know what I mean now
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  • #71
  • Mar 15, 2017 5:21pm Mar 15, 2017 5:21pm
Quoting 9jatrader
Here is another chart on NZDUSD, daily. I believe we know what I mean now. {image}

The trade setup finally showed up - failure to break support while stochastic was on oversold region.
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  • #72
  • Mar 17, 2017 2:17am Mar 17, 2017 2:17am
Quoting 9jatrader
GBPUSD may gradually escape. But stochastic has left oversold region and failed to break the support I pointed out ealier {image}
I decided to avoid this pair and focus on NZDUSD long. They formed the same setup- failure to break support while stochastic was on oversold region. Funny enough the GBPUSD long I skipped is moving ahead of NZDUSD long
Attached Image(s) (click to enlarge)
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  • #73
  • Mar 17, 2017 11:29am Mar 17, 2017 11:29am
AUDCAD weekly is another pair worth waiting for. It's currently retesting 1.031 resistance while stochastic is around overbought region. No one knows the direction yet. The resistance had been holding since April 2014. Do we expect another short trade here?
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  • #74
  • Mar 17, 2017 11:31am Mar 17, 2017 11:31am
It's interesting to do most of the analyses with combination of the weekly chart
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  • #75
  • Mar 17, 2017 11:33am Mar 17, 2017 11:33am
It's helps to exit well and helps to maximize profit. The funny thing about it is that it needs a lot of patience to allow TP to trigger.
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  • #76
  • Mar 17, 2017 12:09pm Mar 17, 2017 12:09pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting 9jatrader
GBPUSD may gradually escape. But stochastic has left oversold region and failed to break the support I pointed out ealier {image}
Why do you use for this chart 5,3,3 and for the other charts of this same page 8,3,3

I am lost!

PLEASE, tell us the parameters that you use and your key time frame.

Thanks.
  • #77
  • Mar 17, 2017 6:38pm Mar 17, 2017 6:38pm
Quoting jmmn
{quote} Why do you use for this chart 5,3,3 and for the other charts of this same page 8,3,3 I am lost! PLEASE, tell us the parameters that you use and your key time frame. Thanks.
Maybe it's the brokers who do some changes, I don't know. All I do is that install the indicator and nothing more. I do not alter anything and they all work accordingly. I believe we don.t need to bother much about the settings. I don't even try to see the settings when I install. I only check when other traders draw my attention to the settings. I feel that no matter the settings they work same way
Jim, I trade the longer TF, daily,weekly and monthly. I take positions on the daily, while monitoring with the other TFs
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  • #78
  • Mar 17, 2017 6:44pm Mar 17, 2017 6:44pm
Hi Jim, if you follow me from the other thread "Simple and Profitable Trading Style", you would have known that I take positions on the daily.
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  • #79
  • Mar 17, 2017 6:50pm Mar 17, 2017 6:50pm
Please try and go through the other thread I just mentioned. There are some information I have shared that may be absent on this thread. In many occasions I repeat some information I have shared on the other thread. I call the two threads " Twin Thread ". This is because they are all about setups, but base on different strategy. Happy weekend to you all
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  • #80
  • Mar 17, 2017 6:55pm Mar 17, 2017 6:55pm
If I have not mentioned it here, though I take positions on the daily, I set my TP on the last or visible support/resistance on the weekly. That's if am long on the daily, my target would be last/recent and visible weekly resistance. Opposite is the case when am short
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