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  • #461
  • Jan 28, 2017 7:25am Jan 28, 2017 7:25am
Opposite is the case with oversold region. If it entered the oversold region, look for strong support. Failure to break it and has gradually left oversold, it has set itself for bullish movement, especially when there is bullish candles
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  • #462
  • Jan 28, 2017 7:26am Jan 28, 2017 7:26am
We cannot use it to fight strong trend. Don't even think of it
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  • #463
  • Jan 29, 2017 10:22am Jan 29, 2017 10:22am
The most interesting I have found out about Stochastic is that it can be used in a ranging/sideways market
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  • #464
  • Jan 29, 2017 10:27am Jan 29, 2017 10:27am
They say market ranges most of the time. Some have even the percentage amount about the ranging market- 70%. How true is the percentage value, it's none of our business.
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  • #465
  • Jan 29, 2017 10:41am Jan 29, 2017 10:41am
What I mean is that when stochastic is on oversold/overbought region and there is support/resistance to be broken, which ever the direction will make setup for us. I will give an example, though I have given many examples on stochastic trading
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  • #466
  • Jan 29, 2017 10:50am Jan 29, 2017 10:50am
I have an example of AUDNZD. The stochastic is already on oversold region, below 20. As you can see, the bears find it difficult to break the support and a Doji candle has been formed. If we can get bullish candle around the area we can have bullish trade. Note that AUDNZD is not trending right now. It means that we can set small target, possibly using the near resistance to get out. SL should be below the support that was not broken. The strategy is still working on my EURAUD long and CADCHF short.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1.png Size: 45 KB
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  • #467
  • Jan 29, 2017 10:56am Jan 29, 2017 10:56am
The reason for bullish trade is the fact that moving averages are already converging. If bullish candle is formed and the stochastic has moved out of the oversold there would be more confirmation - stochastic most have moved out the oversold region
Make all mistakes in demo and rain in pips in live account
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  • #468
  • Jan 29, 2017 10:59am Jan 29, 2017 10:59am
I wish you all happy new trading week. I will not be taking any position. I already have positions- NZDJPY long; EURAUD long; CADCHF short.
Make all mistakes in demo and rain in pips in live account
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  • #469
  • Jan 29, 2017 4:10pm Jan 29, 2017 4:10pm
NZDJPY now on overbought, waiting for resistance breakout, the blue mark
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-d1-alparicc.png Size: 35 KB
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  • #470
  • Jan 29, 2017 4:11pm Jan 29, 2017 4:11pm
I may possibly add position here if the breakout is impressive
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  • #471
  • Jan 29, 2017 4:21pm Jan 29, 2017 4:21pm
BOJ will be giving its monetary policy this Tuesday. I hope this will create another continuation setup on on NZDJPY
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  • #472
  • Jan 30, 2017 2:54pm Jan 30, 2017 2:54pm
Quoting 9jatrader
I will repeat, when your SL is triggered, don't worry. For long position you wait for lower band rejection to get in again. Check my running NZDJPY long. My SL was initially triggered. I waited when candles consistently reject lower band and I got in again and I closed with over 400 pips before US election, then re-entered and still running. You would observed that CADJPY and CHFJPY did not retrace as NZDJPY, though there was noise around them because of the US election.
EURGBP long: As I have said before now when the SL is triggered during retracement based on this strategy don't worry. Monitor the movement and get it using the lower band rejection- for bullish trade. SL was triggered on this pair. Candles have rejected the lower band. What added to my confidence now is that the support refused to be broken while stochastic is on oversold and that bullish candles have showed up. Only "mother Forex market" will determine the outcome of this position
Attached Image (click to enlarge)
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  • #473
  • Jan 31, 2017 12:09pm Jan 31, 2017 12:09pm
EURAUD long is gradually taking shape- power of patience. It was based on stochastic oscillator. AUDNZD has broken support level while stochastic is on oversold, though we still have few hours to the end of today's market close.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud-d1-alparimm.png Size: 44 KB
Click to Enlarge Name: audnzd-d1-alpari-mm.png Size: 44 KB
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  • #474
  • Jan 31, 2017 12:12pm Jan 31, 2017 12:12pm
The additional interesting thing about the AUDNZD short is the fact that it has also broken the descending support also, having long upper shadow.
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  • #475
  • Jan 31, 2017 1:43pm Jan 31, 2017 1:43pm
When market has been moving sideways for a long time if it succeeds to close below the lower band it shows its readiness to be bearish. Am still on AUDNZD short setup. Opposite is the case with bullish trade. When market has been moving sideways for a long time, if it succeeds to close strongly above the upper band, it shows its willingness to fly
Make all mistakes in demo and rain in pips in live account
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  • #476
  • Jan 31, 2017 4:09pm Jan 31, 2017 4:09pm
Quoting 9jatrader
The additional interesting thing about the AUDNZD short is the fact that it has also broken the descending support also, having long upper shadow.
What a quick game changer- AUDNZD formed doji less than two hours to market close. Forex
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-alparim.png Size: 44 KB
Make all mistakes in demo and rain in pips in live account
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  • #477
  • Jan 31, 2017 4:29pm Jan 31, 2017 4:29pm
The interesting thing about stochastic oversold/overbought is that it makes setup- bullish and bearish at the level we monitor. If any bullish candle shows up, especially when the stochastic crossed above the 20 we might have bullish trade.
Make all mistakes in demo and rain in pips in live account
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  • #478
  • Jan 31, 2017 4:31pm Jan 31, 2017 4:31pm
I see this indicator a very interesting and powerful tool.
Make all mistakes in demo and rain in pips in live account
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  • #479
  • Jan 31, 2017 11:05pm Jan 31, 2017 11:05pm
Quoting 9jatrader
The interesting thing about stochastic oversold/overbought is that it makes setup- bullish and bearish at the level we monitor. If any bullish candle shows up, especially when the stochastic crossed above the 20 we might have bullish trade.
I have said it and have no option than to join the bulls. This is because the bears failed to break the support while stochastic was oversold. Also the pinbar doji, though had upper shadow, was able to close with small bullish body. When stochastic gets oversold/overbought there is trade setup for us if we're not already in.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-c.png Size: 117 KB
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  • #480
  • Jan 31, 2017 11:07pm Jan 31, 2017 11:07pm
May be better chart
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-bb.png Size: 45 KB
Make all mistakes in demo and rain in pips in live account
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