You might have noticed, that my charts have a Stochastic indicator on them. In trending markets I look for pullbacks on the trend to enter with the trend, seen as a sling on the Stochastic Indictor.
Today I added a second indicator, as sometimes I have that dumb urge to jump into a market. We all know that feeling: Hey, that's a great move, it has legs, and again...I missed it!
Depending on the day, I sometimes just click and enter the trade. Usually when the market stalls and reverses, leaving me pondering the stupidity of my trade.
So I added an overbought, oversold marker. If %D of Sto81 + Sto27 + Sto5 is >280 or <20 a marker is shown, reminding me of the danger to open a trade with the trend in this timeframe.
See the red lines above the stochastic indicator.
