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Overbought/Oversold: Which Indicators Do You Use?

Discussion in 'Beginners Bootcamp' started by Forexwatchman, Dec 15, 2010.

  1. EuroTrader

    EuroTrader Sergeant Major

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    With time we have to think how we would be able to increase our income from this business. As we all know that trading is not going to be easy for us and we have to make a lot of efforts in the right direction :)
     
  2. downtrend

    downtrend Sergeant

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    You are right, if any trader wants to improve his trading then he has to work very hard. It will take time but its worth practicing as the reward is very good in forex trading.
     
  3. EuroTrader

    EuroTrader Sergeant Major

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    Forex trading is going to give us a constant source of income but then we must also understand that income depends on many other factors and one of them is consistent hard work :)
     
  4. Desacete

    Desacete Recruit

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    From the beginning of my trading career, I've been using indicator MACD for indicator analysis with customized settings.
     
  5. Addam

    Addam Recruit

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    Overbought is a very good situation in order to predict the future of the Forex market. It is the situation in which demand of a certain asset pushes the price od an underlying asset towards the levels which does not support the fundamentals of the market.
     
  6. alaska27

    alaska27 Recruit

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    I also use technical indicator MACD for overbought and oversold, which in my opinion gives you a more objective picture to make decisions.
     
  7. EURUSD

    EURUSD Sergeant Major

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    For trader that use overbought and oversold area as trigger decision trading, I think stochastic oscilator can used for trading tool to determine overbought and ovesold area on certain timeframe, but for me alone, still trading not based on overbought oversold area, but will look on pattern candle with price action
     

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