Stochastics in VS .NET

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Stochastics show divergence. (Source: FutureSource. Reprinted with
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May a bearish divergence developed as the market trend continued lower and stochastics made an even steeper decline. Notice that during the whole downtrend that followed, the stochastics indicator continued to generate buy signals. There are small gains that are tradable for a one-day or two-day swing trader, but the difficulty is that the only classic stochastics signal where the %K and %D cross over is the sell signal back in late May when the stochastics readings were above 75 percent. Figure 8.8 is a classic example of bearish divergence on a weekly chart of the euro currency futures contract. A little background on the fundamentals will help you understand the importance of this chart. The U.S. stock market was in a severe decline, and foreign investors were pulling their capital out of the United States things looked bleak. Remember, as the U.S. dollar declines, foreign currencies increase in value. Looking at the chart, notice how the stochastics signaled bearish divergence as the euro hit 101.80, a new high, in the week ending July 19, 2002, but stochastics did not make a new higher high.
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TECHNICAL INDICATORS: Confirming Evidence
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Market price makes higher highs.
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Stochastic signals bearish divergence makes lower highs.
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Divergence at the top. (Source: FutureSource. Reprinted with
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In addition to stochastics indicating a bearish divergence sell signal, euro prices for the following week, ending July 26, had formed a long dark candle and closed lower and below the previous week s close and low. Further, if you had the monthly pivot point price projections, you would have known that the R1 target high for the July time period was 101.40. The actual high was 101.80. Yes, this chart should be used as an example under pivot point analysis, but the stochastics bearish divergence was a powerful influence as well. Look at the euro picture again a few weeks later as shown in Figure 8.9. After the combination of sell signals, the market tumbled back to the 96.00 96.50 level, failing to continue higher and consolidating in a lower trading range. This is a good example of how to use the verification from stochastics to exit long positions or, at the very least, to not enter a long position at the very top. Using candlestick charting may have given you the visual pattern recognition alert to help you identify a top or turning point in the trend. Combined with pivot point monthly analysis, these signals again provided a proven winning technique, verified by the stochastics signal.
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Gann Theory
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Euro rally stalled with advanced warning from the monthly pivot point R1 of 1.0140 and the stochastics indicator signaling bearish divergence.
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Stochastics verification. (Source: FutureSource. Reprinted with
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GANN THEORY
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William D. Gann was a trader in the first half of the 20th century who died in 1955 and left behind a legacy of instrumental and complex trading theories. His philosophy of trading was considered to be a mixture of mathematical, geometrical, and astrological analysis. Truly a legend, the secrets behind his trading tools and methodology consisted of two things, hard work and common sense. Gann s techniques were based not only on measurements of price but also on time and cycles. Time turns or counts are as important and significant for the market s price behavior as cycles are for nature. Look at the changes from night and day, high tide and low tide, winter and summer seasons. These times can be determined by mathematical calculations, and Gann believed the markets could be as well. Among the concepts Gann used were price corrections based on percentages derived by dividing the market s price action into eighths as well as thirds. He is also famous for developing the importance of a 45-degree
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TECHNICAL INDICATORS: Confirming Evidence
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trend-line angle, the Gann Cardinal Square, and the timing of market events based on the degrees of a circle such as 30, 60, 90, 180, and 360 degrees. If the market made a bottom today, he would try to calculate the next turning point using these numbers to project into the future. Gann also was big on anniversary dates of big events for instance, 1 month, 3 months, and 12 months. There was also the 144-day period, the only square Fibonacci number. Some chartists believe in filtering out a lot of these calculations and just using the basics. Gann methods alone would make a book and are far too extensive to cover here. Gann wrote a book, How to Make Profits in Commodities, which would be a great place to start if you want further information on his teachings.