Long term Stochastics would never go away, the Comfort Levels are always going to remain relevant.
Key sentences: fresh overbought / oversold = toxic
Once the market leaves the overbought / oversold field, it would target the Median (50%) first, then it may proceed to the other extreme to tackle the order-dense field.
I call the 85-95% zone the upper, the 5%-15% the lower reversal zone.
Above 95% the odds are a new high, below 85% a reversal may have transpired.
Where would price be at close today?
In no man’s land I’m no man’s friend.
Until price is staying above the 1.1287 ex-resistance, more upside is possible. If it falls, this was a top. Where would you expect price to proceed to from here, having read the answer above?
Embedding is 3 consecutive daily closes in the overbought / oversold field.
Saving is when one day closes outside, but they put it back inside on the next.
How is you comfort level?