Quote:
Originally Posted by pvctrades
Here are the charts BigPippin, the candle is the one with the yellow circle. I noticed that someone else said their MACD was positive. In my case, only the stoch is in overbought. How would we know which is accurate? Anyways, this month is a little rough and very choppy  |
Both stochastic lines have to be in overbought territory for it to be an invalid entry. In your first chart only the fast line is in overbought territory. The 2nd chart is borderline. Keep in mind I am using what's called "Slow Stochastics". It looks like yours might be on "Fast". Some charting softwares give you the option to choose. It's very rare that the stochastics keep me out of a trade so if your stochastics are just entering overbought/oversold territory then it is probably ok. The only time you don't want to get in is if the stochastics has been in overbought/oversold territory for an extended period of time.