SorL The subject of indicators has been thrashed to death. Just remember that every time you are looking at an indicator, you are not focused upon the price. regards f9
USD/JPY USD/CHF etc etc. .....all have spent several days in the "oversold" territory, often making vague attempts to rebound. NOT the grail! When used on it's own, "The stoch can make you broke!!" I made that up myself.
i use stochastics a different way, i use them to determine if we are trending or not. so when the stochastics enters extremes (above 98 below 20) and they stay there, we are trending hard i use 17,3,1 and 13,3,1 as settings i only display the %D
OB/OS = BS aka meaningless. Instruments can be overbought/oversold and still continue in the direction against a pegged indicator. Price is king. st
Gee, I wonder what price is doing when that squiggly line is telling you the market is "trending hard." st
Correct! And how many times does an indicator like STO exit the OB/OS area only to reverse right back into it stopping you out early or getting you in a trade opposite price direction? IOW, is the dog wagging the tail or is the tail wagging the dog? If you don't understand the concept of price action, just say so. No need for name calling or embarrassing yourself in this manner.
That's a great chart slivermotion. In it are all of the elements that a trader needs to successfully scalp the e-minis. If the OP can figure-out what it is saying he would be way ahead of the game with little cost of pain. Good trading.