Is it short time? If candle closes down with K hook on the 60 and momenteum remains down on the 180( MACD grey line) Entry will be 1 pip plus spread below the candle that created the KD Hook on the 60
@RalphStPierre ... can you please explain what a KD hook is? Or link me to an article I can read to better understand. Thank you for your support! :)
RalphStPierre
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@altcoiner9, K crosses D on the stochastic oscillator...theres a little more then a KD cross..theres mini stochastic patterns ( diveregence, convergence. double and tripple crosses. mitten pattern. double tops. H&S etc)that are tradable in the larger context of the trend on your chart. IF the right settings are used. Its unfortunate that many people are taught that the extremes of this oscillator as being ovebought and over sold. Nothing further
from the the truth. its a mathematically bounded indie. therefore it cant go higher then a hundred or lower then 0. fact is..its the most bullish or bearish at these extremes and caution must be used if shorting or longing
when at its extremes. If you were to watch price at these exteremes. you will often see price to continue higher or lower.That being said. I use it more for a timing indicator then a momentum indicator and be cautious
just trading simple KD crosses. Them by them selfs are not a trading methodology but if used in the context of the trend. they are extremely reliable for trade enters and exits.