I watch both, it depends honestly, many times the 60
Stochastic wont't get overbought in a good downtrend. the
14/3 Stochastic on the 60 min is still a much better risk/reward vs
shorting a breakdown because you are shorting overbought
conditions.
I also use a 5 length RSI on a 60 min chart and look for it to
get overbought and cross below 70%.
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Matt, do you watch the
SPX 2011
Posted by frtaylor on 6th of Mar 2012 at 11:07 am
Matt, do you watch the 60 stochastics or the 14/3 stochastics?
I watch both, it depends
Posted by matt on 6th of Mar 2012 at 12:22 pm
I watch both, it depends honestly, many times the 60 Stochastic wont't get overbought in a good downtrend. the 14/3 Stochastic on the 60 min is still a much better risk/reward vs shorting a breakdown because you are shorting overbought conditions.
I also use a 5 length RSI on a 60 min chart and look for it to get overbought and cross below 70%.