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There has been some talk of Stochastics on the forum lately. Some have
observed that a tuned Stochastic functions well when the trend is flat.
However, the oscillator is notorious for saturating very early in a
sustained move. So, what do we do when the market is trending?
(Actually, the Stochastic has some utility in a trending market. As long as
the oscillator remains pegged at 0 or 100, we 'know' the trend remains
firmly in entrenched. Also, after a periodic price consolidation or
retracement, the oscillator confirms the resumption of the trend.)
Under all market conditions, nested Hurst channels give me a far better
'view' of where price is in relation to past action and probable future
course than any fancy oscillator I have studied (I am a confirmed indicator
junkie.) Hurst channels combined with a simple detrend and an effective
volume study is powerful stuff IMHO.
I know all of the 'yes but' responses to Hurst channels. A high level of
visual intelligence and intuition IS required to interpret them. I relish
the 'inadequacies' of Hurst channels; if everyone could read them
proficiently, their usefulness would vanish.
We all possess specialized individual intelligence which have the potential
of giving us an edge in the market.
Stan
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