One technique do not work to all market conditions. market changes and our techniques also should keep changing with markets.That means if we use one technique for trending market,we apply diff one for sideways.
Here is gold 15 Min chart with stoch.Price is moving in a channel.In market u can do only 2 things.Buy and sell. Now u r profitability depends on where u buy and where u sell.
rule is buy when price is in its lowest range and sell when it is in its highest range.Look at the below chart and the channel.
Now second chart.where to buy? we buy when the price is near or just hits channel with a reasonable stop. Then sell when it hits upper channel. Also look at stoch.Thats what Ashwani sir told.
Buy when stoch on oversold and also price hititng lower channel.
sell when stoch is overbought and price hits upper channel.
the pink line represents buy and green represents sell.
This game in forex is called "pingpong" means hitting the tennis ball from both the courts.