The UK election results coincided with oversold stochastics on the 4hr chart and although the trend bands are still negative on that timescale, the 60 minute time frame and lower provided plenty of opportunities to go long on Friday. However, with overbought stochs on those timeframes and the 4hr trend band still downhill, a retest of that prior low may provide an opportunity to buy again or at the very least provide clarity on the strength of this move uphill.
Working right to left on the higher timeframes, we can see that the 8hr & daily stochs also appeared oversold, but again with downward facing trend bands. So at this level, the move up on Friday is either part of a retracement or the start of something bigger, in line with my red wave 5 count from last week into blue wave 3 top. If the pull back in the 4hr can hold the low and see the trend bands turn up,
an oversold stochastics on the hourly chart after 3 waves down, could be a great place to go long with a secure low to play off. However, the positioning of those weekly and monthly stochastics, have me believing that the blue wave 3 top will see a decent pull back in due course, so new highs will see rigid stop losses! See previous posts for EW counts.
The UK election results coincided with oversold stochastics on the 4hr chart and although the trend bands are still negative on that timescale, the 60 minute time frame and lower provided plenty of opportunities to go long on Friday. However, with overbought stochs on those timeframes and the 4hr trend band still downhill, a retest of that prior low may provide an opportunity to buy again or at the very least provide clarity on the strength of this move uphill. 
Working right to left on the higher timeframes, we can see that the 8hr & daily stochs also appeared oversold, but again with downward facing trend bands. So at this level, the move up on Friday is either part of a retracement or the start of something bigger, in line with my red wave 5 count from last week into blue wave 3 top. If the pull back in the 4hr can hold the low and see the trend bands turn up, an oversold stochastics on the hourly chart after 3 waves down, could be a great place to go long with a secure low to play off. However, the positioning of those weekly and monthly stochastics, have me believing that the blue wave 3 top will see a decent pull back in due course, so new highs will see rigid stop losses! See previous posts for EW counts.
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