The Art of Trading with MTF Stochastics

I stayed in trade until now ,my exit -10 pips,although my drrawdown was high -55 I didnt exited because 4H and 1h didnt react at all and were all the time flat well below 20 and that confirm me to not to get out of trade,but now the 30 stoch cross 50 up and is against 15M which is pointing up,I am not sure how the situation will develop although the 1H still didnt leave oversold area and elastic tarde 15/30 into 4/1H is still possible but it is not so clear and I dont like to be in trade at this time,is bad time to trade,
thanks

Wow! You are brave. 55 drawdown! I think very long bars skew data and throw off indicators. I am thinking 03:00 to 05:00 today. Look at H4 and H1...maybe too negative, too long. Just now, price dropped about 70 pips G/J beginning at 11.30 until about 12:15. Now looks like retracing. What happened? Because you exit short marcin?

UJ possibly long entry

..

I lost 20 pips although it looked for me not bad to enter,however I considering about 1h bar which was pionting up ut the moment but it was not closed.
I do not like UJ,I always loose money trading it,have to wait until I will better know it.Any coments...

Hey, I almost took that one myself. It did look right. Perhaps a question over the H1? Onwards and upwards...

Looked like a good set-up to me. Pippo

Several high impact news releases scheduled today for both London and New York sessions. Any comments?

I don't want to seem a smartass after the event, but did you see the M5 stochs for that failed UJ trade? Maybe could have waited for that to be positioned correctly?

I always kick myself when I don't check and a trade starts off badly. Usually, it doesn't matter too much but at the TP levels you are using I would say it is even more important.

What do you think of this?

Steer well clear at my level of competence. I am already in a long term trade and intend to leave that alone, but won't be trading mtf lower time frames until 20 to 30 minutes before and after the news to let the dust settle. I have had my fingers burned once or twice. Ouch. It still hurts.

Smikester,

You bring up a good point regarding the 5min. I have a 1m/5/15 that I use once I narrow my target to a pair and check the action there for optimal entry. Going with the 4hr trend wether you are climbing or diving to it gives me extra confidence and sometimes keeps me from hitting the panic button.

USDJPY daily chart - possible rubberband set-up

Charlies. Thank you for that observation. Why is one indicator stepped and the other analogue? I mean, is there any advantage to it? Have you any other analysis to back up this potential trade?
I like to look at longer TF mtf stochastics but I am using a modified version of Spudfyres indicator and it does not seem to look right.

Not sure why it is stepped, had the set-up/chart for quite a while & never questioned it. I think it is showing the weekly stoch based on the weekly close, so it is adjusted once each week.

Most of the time, I use the hourly chart for entry, I'm still experimenting with finding a set up on the daily & then actively looking for entry on the lower tf. If you look back at the daily stoch, it does a good job of identifying the swings.

Watching for entry on the hourly:

Smikester
to be honest,this trade was my fault,I woke up ,saw this setup and jump in without deeper analysis,I didnt check 5m although i normaly do that.
It is bad to be to confidence after winning many times.
What I think about this trade now is :the setup looked good,but it was nearly one hour to 1H close,so I should wait and see how it develop or wait for 5 min to better tune my entry,but the best idea is just to leave it and wait for clear situation.
It seems I start to break my rules and thank you Smikester,analizing bad entrys is what we need to learn and become more disciplined .

I would like to add something regarding elasticity trades.
We talked about 50 line as a triger to enetr elasticity trade when 15 corss it up or down to join the 4/1h/30m.I still think this kind of trades have high rate of winning when aiming for 10 pips,but in this kind of trades we should pay more attention to very good stochastic position,it should be perfect and normally you gain your 5,10 pips very quickly.I think such trades are good for somebody who has some experience because you cant relay on 15M stoch to heavily.
I analyzed my trades and read some Spuds notes one more time and it seems trading elasticity with 30M crossing 50( or 20/80 even better)into 4H and 1H is more reliable .In other words I would say 30M stoch is more reliable signal as 15m stoch."whenever it rises below50 or below 76.4 and crosses either upwards we are in a long trade so long as our 4H and 1H are where they should be".

Spud wrote that he use 5/15 to time entries and exits,no point to exiting if the 5/15 are both at the top and headed down in a short position.he dont heavily relay on the 15m moves other than pay close attention to price when 15M goes against us.simply the 30M is not as cyclical as 15M and that is the reason and the 30/1H make pretty reliable tandem.

I made already 2 trades with 30 cross 50 into direction of 4H and 1H with succes .In both trades at the moment of 30M crossing 50 line the 15 M was already joining 4/1h and was crossing 80line(it was long trades) and at the moment of exiting 30M was touching 80 line and 15M was leaving oversold area.
Please keep an aye on it and post such trades(elasticity with 30 into direction of 4/1H) so we can learn and see what kind of rubber band trades are most reliable)

My trade for +8pips

my trade +15
enter when 30 cross 80 down
i am experimenting so I trade smaller position

Here's a nice rubberband I took this morning.

I generally trade the M15 toward the H4. I entered as the M15 approached the 38 level, as I feel this is stronger confirmation of the move, less chance of a false move at the 23 level. The 30 & 60 were just beginning to hook back up at the time of my entry.

Move was good for +25, though I left much sooner on the first retrace (took only +6) due to my losing streak the past two weeks, even though all stochs were headed up at the time. I've been extremely "retrace-shy" this week, but I'm working on that.

look at this setup on U/j,the 1h is not closed but its nice setup with 4H below 80 line,if you trade it be carefull,thatis not the best time to trade

My today trade for 10 pips:
15/30M crossed 50 and pointing very strongly up tight together,
There was an inside bar on 1H time frame and on the 4H time frame you could see some bars earlier very long lower wicks,one over 90 pips and at the moment outside bar was forming.
the move was over 50pips,I got just 10.