What do people think about it?
Your labels are the wrong way round: “oversold” should be the lower line and “overbought” (which you have called “undersold”) should be the upper line.
Beyond that, I’m afraid I can’t help (don’t trade stocks).
I been discussing with some friends to do stock options. We agree we can make more money with options if the same trading network is provided
I am placing of course when a condition is either overbought or over sold. Thats how I make money. Its my edge
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Mostly forex futures now (and occasionally index futures).
It seems to me, from what you posted here and in another thread, that your approach is completely logical and sensible, and (to me) the attractive-sounding part of it is that you have a high turnover of trades, in other words a very large “sample-size,” in statistical terms, so you have some additional security there, and reduced risk from adverse runs, etc.
How much interest a stock-trading/options-trading method is going to generate, overall, in a beginners’ forex-trading forum is another matter, but I’ve been interested in hearing about it, anyway, and I wish you good luck with it.
Jepp, its only about statistics. People wake up with deamons in their heads and dont breath another minute. Its just statistics. I dont inspire to be a clown but this is who I am
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I agree with you, anyway. I don’t even mind if that makes me a clown. 
