First of all a LOT of thanks to everyone posting on this thread, obviously a special thanks to Tymen...
I'm still on the post #278 so I'm sorry if this was already mentioned, i can't know yet...
But today I've found two occurrences of what I'm about to say.
After the evening star the price goes down as expected, thus making the profit intended, but after the middle band on the 5M chart it goes up crossing again the middle band and then crosses the band again going down big time.
This happened on USDJPY and USDCAD, I'm only practicing with a demo acc, and i made 90 pips out from both...
But what I wanna comment is the resemblance to the Elliot Waves. The evening star is the peak, followed by the first down 'A' that crosses the middle band. Then green candles rocket the price up quickly as do the 'B' line. Followed by the 'C' line as expected.
I've seen it twice just this morning! So, i wanna know if you guys with more time and experience have seen more of this pattern... this way we can expect the rising of the price just after the middle band (5 minute chart still!) and maybe long at the right place for extra profit... or just not don't selling...
or just seeing the second evening star on the middle band of the 5M chart as a strong signal for another short...
I'm really looking forward to the response of you, so you can correct the stupid things I could have just said, and so I learn.
Cya,
Sorry about the english, I'm from Brasil and I don't practice enough.