Took most of my long off on the spike - little one remaining .. still have [bullish] faith tho ... so looking lower to add

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"Overbought vs Oversold Lane also expressed the important role the stochastic oscillator can play in identifying overbought and oversold levels, because it is range bound." George Lane (the guy who invented stochastic indi) url The best use of ...

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But not equally, right? I mean an o/s stoch signal to buy in an uptrend is more reliable than an o/b sig to short in an uptrend, no?

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Trend is more to do with HH/HL and vv rather than a neat line. And the mid august low needs to be taken out before we consider a reversal (that would be your lower low)

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Yeah - I get the first one , and the resulting trade would be trend-following right (ie: a long)My initial point was that looking for o/b sig via stochs in up-trend wrt a short trade is a bit dodgy

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Well to me, with lines going through both price and stochastic at close prices it looks like this, but if you can make profit from it then good for you

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No thanks - the prediction game is for muppets. And you don't need to know anything - just look at a chart. 300+ pip drop since the recent high till now. Or am I missing something?

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But what is the chart showing? The orange line on price goes through highs whereas the one on stochs goes through close prices?(assuming your stochs is set to close prices) And they don't match up timewise.

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Done deal

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Yeah it did - 300 pips

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Expected by who? Ellioticians?

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If you short overbought stochastic signal in an uptrend most of the time you'll take a loss

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It's done that already hasn't it?

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Ok - daily shows why its not going down much more (uptrend)

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Straight line down? The 30 pip h1 candle from 3 hrs ago?

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If NY makes a new low I'm buying more

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Taken out .... Going in again @ 425

Cable Update (GBPUSD)

I disagree. What above average trader is seriously going to the read the FF EU thread to 'gain an edge' ? This thread never changes - a pair moves 200 pips and most think it's going down forever

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It's a good sign for bulls that almost everyone here is bearish.

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