To Neboxian :
Ericoco is correct - the Starc bands are only used on the 5 minute chart.
The only extra on your main chart are the Bollinger bands.
To VulcanClassic :
Trav72 is correct - the dots do indeed represent short positions only.
But now that we are going long be prepared to be extra confused!!
Thank you
KENNETH LEE for answering some of the questions raised.
To Pipso Facto, Maverick731, Nicolebobbin and Jimmy Jones :
Welcome to this thread!
I trust you will gain much and add many pips to your accounts!!
To Ericoco and Pipso Facto ;
Thank you for your wonderful compliments.
I shall do my best to teach to improve your trading so that you make lots of pips!!
To Maverick731 :
Jimmy Jones is correct. The Bollinger is applied to the close. Settings - period 20, standard deviation 2.
To Jimmy Jones :
You are learning very well. You have posted a very high quality, large, easy to see chart.
Well done!
I personally prefer white background - it has higher resolution - shown by setting the Guppy multiple moving average.
But if you like black (definitely more sexy), then go for it.
Still, can you quickly tell the difference between those light grey and dark grey candles?
I would submit that the down candles would be better off in red or orange - excellent fashion style with black and grey!!
I see that you are trading better now with your 5 winning trades.
Good for you.
There is still a problem with my
Ultimate Candlestick Trading Method when the price action drops like a bomb. Here 2 amounts are better.
But I have tried to accomodate all possibilities.
We will solve this problem in due course.
The problem with your first trade (the chart you posted) is that the pattern is
not an evening star pattern.
The first candle of the pattern has a much higher wick than the star. This basically rules the pattern out.
I say this to everyone, and I say it again :
Always choose quality patterns only.
Do not choose just anything that resembles the orthodox pattern just to get a trade.
You will lose - or stand a very high risk of losing.
What good is that?
Wait patiently instead.
Be a sniper.
Pick your trade.
Then aim carefully................and shoot.
..............and collect your pips!!