Tuesday, September 26, 2006 11:32:36 PM
Use Fast Stochastics as a "confirmation" and watch the profits roll in...
The following 5-Minute Chart shows how Fast Stochastics can be used at Gathering Support to confirm that a reversal up is immanent.
When Fast Stochastics is below 20 (oversold territory) and rising, the confirmation of an immanent reversal up from Gathering Support is issued when the thick black line crosses above the thin red line. A cross above the 20 line represents a further confirmation.
The 5-Minute Chart also shows how Fast Stochastics can be used at Gathering Resistance to confirm that a reversal down is immanent.
When Fast Stochastics is above 80 (overbought territory) and falling, the confirmation of an immanent reversal down from Gathering Resistance is issued when the thick black line crosses below the thin red line. A cross below the 80 line represents a further confirmation.
The following 5-Minute Chart shows how Fast Stochastics can be used at Gathering Support to confirm that a reversal up is immanent.
When Fast Stochastics is below 20 (oversold territory) and rising, the confirmation of an immanent reversal up from Gathering Support is issued when the thick black line crosses above the thin red line. A cross above the 20 line represents a further confirmation.
The 5-Minute Chart also shows how Fast Stochastics can be used at Gathering Resistance to confirm that a reversal down is immanent.
When Fast Stochastics is above 80 (overbought territory) and falling, the confirmation of an immanent reversal down from Gathering Resistance is issued when the thick black line crosses below the thin red line. A cross below the 80 line represents a further confirmation.
Buy at Support
Sell at Resistance
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