Indicators are the best thing happened since sliced bread. They allow for statistics and applied logic time travel beyond a human’s capability to recall things and to live forever.
Trading can become a routine done with confidence. On the chart below concentrate on 2 things: the category B Buy warnings and the ginormous numbers stating the Minimum / Target which was just hit. Actually, I missed my time window (sample size) to show the 1.1835 print on the large numbers, but they are still there on the right with the memory function in magenta in small.
So now you know the exit: M/T, all you need is the where exactly and the when. (Stochastic Combo w/ Divergences)
These can be fine tuned with other indicators. The E32 channel can show you where price is out of overbought (below the yellow dots plotted by this Cadillac version of the Stochastic Bars Mixed) and the green vertical stripe came from my 2Fractals routine on this 15-min chart.
The latest tweaks on RSI2 Basic allow me to get the timing right:
The knowledge to be rolled over here was remembering that a Strong Drive would not normally stand for the end of a move: a thrust would be needed to occur (in 14 hours), and the duration under which the thrust prints cannot exceed hours of strong selling, for then it would end up making another Drive, not a Thrust. Meaning: it is possible to utilize the time constraint knowledge for an entry. For instance, in this case the beat was a measly fake out worth of some 10 pips, and I was picturing a healthier thrust, so my pending orders were not filled, yet this did not stop me from buying at 1.1762 at market when the 2-hour clock was running out.
I could figure the other end of the range thanks to my No-Drive yellow plot inventions and could think into the future in a coherent manner.
How could anyone not value all these additional information versus raw data that does not by itself mean anything?
The only tricky part is not forgetting to look at all these plots and frequently.