[tymen1]

To Max99 :

Tymen,

Let me see if I understand this whole trade correctly. I’m using MetaTrader so I don’t have 20 minute charts but I am looking at the 15, 30 and 60 minute charts.

Metatrader allows you to program any chart timeframe you want. You just need to find out how to do it.

First I identify the evening star at the upper Bollinger Band on one of those timeframes and look to enter on the second bar after the evening star.

You enter short on the 4th candle. The first 3 are part of the evening star pattern.

Next I switch to the 5 minute chart

Correct.

It’s a little confusing because it seems to contradict the earlier charts posted but on the latest charts you would go short when the middle Bollinger band is up, MACD is up and the price is at the upper Keltner channel band?

You always go short on an evening star pattern - that is the trading nature of the pattern. Whenever you see an evening star you know that you must trade short. It has nothing to do with the 5 minute chart.


The 5 minute chart is just a tool to allow better entries. It consists of a MACD, BB and KC.

To get these better entries, the 5 minute chart has rules as follows:

Look at the 5 min chart.
Draw the MACD vector.
Draw the BB vector.
Get the resultant of the MACD+BB vectors.
Decide whether the resultant is up, down or level.


If the resultant is up...............best entry at the upper KC band.

If the resultant is down...............best entry at the lower KC band.

If the resultant is level...............best entry at the middle KC band.

There are also shades of grey in between but don't worry about that just now.


Hope this helps.
If not then maybe one of the other readers can also help.

In the meantime, watch the next trade..........it may help to make things clear. I intend to show several of these until the principle is clear to everyone.