Re: NZD-- long term
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King Kiwi has been putting a thumpin' on the USD, along with anything else these days. (I won't post the crosses just to prove it.)
The chart is showing the fact it is getting primed up for another strong move north. And, here's where I love the stereotypes! First of all, I do not set my boundaries on the stochastics like most people, at 80 and 20. Mine are set at 85 and 15. So when mine are OB / OS, there's no argument. This is the 4-hour chart. By looking at the stochastics, most people would be jumping out of their long (I am long on this pair.), and hitting the sell button. Look at the divergence, and the part it diverged. It's OB. It should be sitting on top of the the kijun by now. What's the deal!?
Let me dispel a misnomer. (BTW, I have no vendetta against anyone. I'm just stating facts.) How many times have we read that indicators are useless, and that you cannot and make money using them? And then 4xpipcounter has this indicator enriched methodology, and he is making pips. What they say about indicators being useless is a half-baked idea. Now for that proof.
By all indications, price should have collapsed, and so it fulfills someones pessimism towards indicators (Hold on! I opened another can of worms.) Wrong! Price did not respond to the divergence because of strong momentum on the price action. The stereotype is that price is always supposed to respond to those patterns. That is not true! You have to use the stochastics, like any other oscillator, as a confluence. I didn't post the daily chart, but this is what I call a freight train. Just get out of the way, and let it do its thing.
You might ask, how did I peg .7474, and what am I so extremely confident we are headed that way. We are in the process of what I call a pattern of continuation. My WR1 is .7391. The hourly better shows what I am talking about here, but you can still see it on this 4-hour. Price hit the level. Usually there would be at least a 38.2% bounce off that to the WP. That did not happen, and price has consolidated above the mark. This means the next objective is .7474.
Getting back to the can of worms I opened. If someone is pessimistic towards indicators, that's fine. People trade successfully using price action, candlestick patterns, Elliot Wave, etc. That's good for them, but they're dead wrong when they say you can't trade and make money using indicators. When you visit this thread, it is indicator enriched.
BTW, this thread is still getting 125 knocks per day. I must have a lot of silent viewers. I still encourage all input, questions, and comments relative to this thread.
QUOTE=4xpipcounter;534342]Folks, I'm not kidding, but long term, the kiwi looks like it is on steroids. Against the USD, it is looking at getting to .7582, and it could go quick. When you consider what should be imminent reversal for the EUR/USD, GBP/USD, and the fact the USD/JPY will be headed further north, for at least the time being. This means those 3 currencies as the cross with the kiwi is going to get spanked all over the forex map.
Look back at this post a few weeks from now, and then you'll see what I mean.
[/QUOTE]
dear pipcounter just one clarification from this chart, i also use stoch in my mech trad system,you said you use 15/85 in place of 20/80 for ob and os,but once crosed 80 leval then we will consider when triger line will cross indicator line, in my view 80/20and 15/85 will give same result the diff will be if once trig/indi line both cross 85 you consider it over baught without waiting for cross and then close the position or go short as required or any thing third,i will be obliged if you clarify it thanks in advance
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King Kiwi has been putting a thumpin' on the USD, along with anything else these days. (I won't post the crosses just to prove it.)
The chart is showing the fact it is getting primed up for another strong move north. And, here's where I love the stereotypes! First of all, I do not set my boundaries on the stochastics like most people, at 80 and 20. Mine are set at 85 and 15. So when mine are OB / OS, there's no argument. This is the 4-hour chart. By looking at the stochastics, most people would be jumping out of their long (I am long on this pair.), and hitting the sell button. Look at the divergence, and the part it diverged. It's OB. It should be sitting on top of the the kijun by now. What's the deal!?
Let me dispel a misnomer. (BTW, I have no vendetta against anyone. I'm just stating facts.) How many times have we read that indicators are useless, and that you cannot and make money using them? And then 4xpipcounter has this indicator enriched methodology, and he is making pips. What they say about indicators being useless is a half-baked idea. Now for that proof.
By all indications, price should have collapsed, and so it fulfills someones pessimism towards indicators (Hold on! I opened another can of worms.) Wrong! Price did not respond to the divergence because of strong momentum on the price action. The stereotype is that price is always supposed to respond to those patterns. That is not true! You have to use the stochastics, like any other oscillator, as a confluence. I didn't post the daily chart, but this is what I call a freight train. Just get out of the way, and let it do its thing.
You might ask, how did I peg .7474, and what am I so extremely confident we are headed that way. We are in the process of what I call a pattern of continuation. My WR1 is .7391. The hourly better shows what I am talking about here, but you can still see it on this 4-hour. Price hit the level. Usually there would be at least a 38.2% bounce off that to the WP. That did not happen, and price has consolidated above the mark. This means the next objective is .7474.
Getting back to the can of worms I opened. If someone is pessimistic towards indicators, that's fine. People trade successfully using price action, candlestick patterns, Elliot Wave, etc. That's good for them, but they're dead wrong when they say you can't trade and make money using indicators. When you visit this thread, it is indicator enriched.
BTW, this thread is still getting 125 knocks per day. I must have a lot of silent viewers. I still encourage all input, questions, and comments relative to this thread.
QUOTE=4xpipcounter;534342]Folks, I'm not kidding, but long term, the kiwi looks like it is on steroids. Against the USD, it is looking at getting to .7582, and it could go quick. When you consider what should be imminent reversal for the EUR/USD, GBP/USD, and the fact the USD/JPY will be headed further north, for at least the time being. This means those 3 currencies as the cross with the kiwi is going to get spanked all over the forex map.
Look back at this post a few weeks from now, and then you'll see what I mean.
dear pipcounter just one clarification from this chart, i also use stoch in my mech trad system,you said you use 15/85 in place of 20/80 for ob and os,but once crosed 80 leval then we will consider when triger line will cross indicator line, in my view 80/20and 15/85 will give same result the diff will be if once trig/indi line both cross 85 you consider it over baught without waiting for cross and then close the position or go short as required or any thing third,i will be obliged if you clarify it thanks in advance
