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Method of using Stochastic Oscillator Profitably

  • #661
  • Aug 18, 2018 12:39am Aug 18, 2018 12:39am
Quoting 9jatrader
AUDCHF is failing to break the strong support level, 0.71539 while Mr Stochastic is on the oversold region. This support had failed to be broken since 5th June, 2017. I decided to join the bulls, live and demo. The weekly is much more stronger, though we still have 23 hrs before weekly candle finally closes. The weekly is currently forming Hammer with bullish body, supported by strong Bollinger Lower Band breakout.
Here is the weekly chart
Attached Image (click to enlarge)
Click to Enlarge Name: audchf-w1.png Size: 58 KB
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  • #662
  • Aug 18, 2018 12:44am Aug 18, 2018 12:44am
Quoting 9jatrader
{quote} I may share the weekly chart if it finally closed well as it's currently too strong.
Already shared the chart as I promised. The setup is just too strong on the weekly. The reasons are that it was able to close while on the strong support, it has Bollinger lower Band breakout and above all it was able to close with Bullish body. Trade safe. DON'T BE OVER CONFIDENCE AND KEEP TO YOU RISK APPETITE
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  • #663
  • Aug 22, 2018 5:51am Aug 22, 2018 5:51am
Dear 9j,
Could you please llok at this chart, the bar marked by a red vertical line.
Mr.Stochastic run outside from the oversold area AND (or but) the price bounced up from the low b-band.
Can we read it as a signal to buy with TP at the MA?
Thank you!
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Just an opinion. Based on research
  • #664
  • Aug 22, 2018 7:32am Aug 22, 2018 7:32am
Quoting since80808
Dear 9j, Could you please llok at this chart, the bar marked by a red vertical line. Mr.Stochastic run outside from the oversold area AND (or but) the price bounced up from the low b-band. Can we read it as a signal to buy with TP at the MA? Thank you! {image}
I do not see anything about stochastic signal. The breakout that was formed became "Fakeout" and went bullish again
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  • #665
  • Aug 22, 2018 10:20am Aug 22, 2018 10:20am
Quoting 9jatrader
{quote} I do not see anything about stochastic signal. The breakout that was formed became "Fakeout" and went bullish again
Thank you. Let me ask more:
1. So, you look for breakouts only, not for bounces from supports, bands or MAs?
2. Stochastic's coming out from oversold - is it not a buy signal?
3. How do you filter fakeouts like this one? With higher TFs only or something else?
Just an opinion. Based on research
  • #666
  • Aug 24, 2018 2:08pm Aug 24, 2018 2:08pm
Quoting since80808
{quote} Thank you. Let me ask more: 1. So, you look for breakouts only, not for bounces from supports, bands or MAs? 2. Stochastic's coming out from oversold - is it not a buy signal? 3. How do you filter fakeouts like this one? With higher TFs only or something else?
1. Breakout only- read the thread again
2. Go through the thread at the beginning
3. No one can determine fakeout. Sometimes breakout moves accordingly and move straight to the direction; sometimes a fakeout
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  • #667
  • Aug 24, 2018 2:34pm Aug 24, 2018 2:34pm
When you join new thread it's wise to read some posts and study the chart from the beginning. We may not be able to read all, but read few from the beginning.
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  • #668
  • Feb 15, 2019 1:14pm Feb 15, 2019 1:14pm
1hr trading- stochastic supported resistance (0.71292) breakout on AUDUSD
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  • #669
  • Feb 15, 2019 1:17pm Feb 15, 2019 1:17pm
Another great thing about the setup is the fact that it was Double Tops
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  • #670
  • Feb 15, 2019 1:19pm Feb 15, 2019 1:19pm
I already have many charts on stochastic
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  • #671
  • Feb 27, 2020 10:49am Feb 27, 2020 10:49am
Stochastic based resistance breakout, 4hr on USDCAD
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  • #672
  • Last Post: Feb 28, 2020 3:26pm Feb 28, 2020 3:26pm
Quoting 9jatrader
Stochastic based resistance breakout, 4hr on USDCAD
Am out
Make all mistakes in demo and rain in pips in live account
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