The Art of Trading with MTF Stochastics

I am going to close it out. not really following the rules with 4 hour overbought. and does not seem to be going the right way. luckily it is just demo. better just to wait for the right setups. looks like i missed the good setups while i was sleeping (GU).

Natejax
I dont want to say U/J is tricky to trade with Mtf stoch,but my most lost I took on this pair so I just dont trade it anymore.Mayby it was my fault but it was pair which generated for me looses.So I just say be carefull.

E/J currently OB on H4,H2,H1,M30,M15. Maybe trading away trade at 07:00 ET if H1,M30,and M15 have turned down. Pippo

Thanks Marcin. Yeah, it definitely was not the MTF stochs failing, but me, as the 4H was still overbought and so, under Spuds rules for agreement, it would not be a trade. I can see the hardest part of this system will be to wait for the right trades and not jump on things that almost look right. Especially when I wake myself up at the crack of dawn, i have a vested interest in taking a trade.. Obviously discipline will be the key to success with this system, as with any other.

E/J H4,H2,H1 OB. M30,M15 still OB, but now with downward bias.

USDCAD could be setting up for a nice elastic/agreement within the next couple hours. Only thing i don't like is the possible bull pennant. and then the 4 hour looks like it might want to pick up.

what do you guys think?

http://i236.photobucket.com/albums/f...jax/USDCAD.jpg

G/j possible long trade

wait for 15 to close,if above 50 I enter

the only thing about GJ is that the 30 is still up. does that matter?

EDit. looks like it is shaping up to have been a nice trade. nevermind.. i had it in my head to only take elastics when you had the divergence with both 15/30. but it looks like just 15 will work also.

Hello Natejax,
I think in order for this to be a good setup, you will clearly need for all 3 stochs to come down from overbought, preferable together. It looks like H4 may be coming up from oversold, so you might see mixed signals on this one. I have pivot at 68 so be wary around that number 68 to 72 and that was where resistance was during asian session. Now that it's broken thu, may see support around that level. As you say, this one needs a little time to see what it will do.
Cheers,
CanuckCT

UJ looks good (UJ prejudice notwithstanding)

Hello Pippo,
Have a look at AUDJPY for the same time....it moves a lot better with the stochs than EURJPY. There was an easy 10 pips here and with just a bit of nerve a 40-50 pip move. I caught 10.
Cheers,
CanuckCT

Thanks for the advice. I will take a look. Pippo

UJ was really not looking so hot. I am going to make sure i check the 4 hour stoch in the larger timeframe chart. The slope looks a lot flatter than it actually is when it is zoomed in like that.

GJ looking good again?

Edit-maybe not...

there is long trade oportunity on GJ,elasticity trade : 30 into 4/1H ,but there is not much move of price at this time.

..

EJ looks good long + swap

those stochs seem to change their mind every time i jump in... still, probably worst time for trading right now.