What was your “bad experience” if you don’t mind me asking please?
Indicators don’t work for everyone, and it’s important to trade in a manner which is most natural to who you are as an individual.
Regarding the underlined statement above…What’s the difference between looking back @ historical price action (i.e. candlesticks) and utilizing mathematics to arrive @ a numerical representation of momentum (by looking back @ candlestick closes)? The Stochastics indy is a great tool (just a tool, not ever the primary reason to make a trade) to aide in interpreting where price is presently trading and how much momentum is behind a move in relation to a chosen range of x Weeks, Days, Hours, etc.
When the STOCH diverges from price, that could be an incredibly powerful symbol, and is one of my main strategies actually. So, I don’t agree with what you’re saying in regards to “price and indicator diverges so I better do not follow it”. You’d want to “follow it” 8 or 9 times out of 10, because it’s a great signal to enter the market in the right environment. Right now is just not the right environment because of the daily chart being pinned down. Sellers are just eating up buy orders.
Not sure how much NFP has an effect on a weekly basis (unless you’re mentioning the weekly chart?) The print only comes out once a month in case you weren’t aware of that. No worries though. Be careful making that assumption that “price will retrace after a while” because that is not completely accurate. Check out the image below- it’s a chart I made a few months back, showing how NFP impacted the USDJPY. Any number in Green is a better than expected release- any number in Red is a worse than expected release. Bottom line, my study shows that it’s not as easy as simply buying and holding the Dollar when NFP is good, and selling it when NFP is bad.
Link to image