Quote:
Originally Posted by ramon
First of all a LOT of thanks to everyone posting on this thread, obviously a special thanks to Tymen...
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But what I wanna comment is the resemblance to the Elliot Waves.
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or just seeing the second evening star on the middle band of the 5M chart as a strong signal for another short...
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To
Ramon :
I need to take your post in hand immediately.
Firstly the Elliot Waves.
Forget them!!
The success rate for prophets of Elliot Waves is approx 17%.
Do you like that?
Elliot Waves have absolutely nothing to do with Candlstick trading.
You are mixing apples and toadstools.
Stick with the material presented in this thread - it is logical and will not steer you wrong.
Towards the end of the thread you will come across a PDF file containing the 4 levels of candlestick trading.
I encourage you to start with the Basic level and gain competancy from there.
Secondly, you should
not be using the 5 minute chart as your trading chart.
It is only used in the Int/Adv levels with the Starc bands.
You should be using the main chart to trade.
Seeing what you think is a pattern in the 5 minute chart is totally irrelevant.
Please stick with the methods shown in this thread.
They are taken from proven practices.
Do trust that I know what I am talking about.
It you start to trade your own way with the candlesticks you will go wrong and eventually lose all your money.
Finally, if you go to page 140 and post #1393.......you will find the fully updated and complete method explained in a PDF file.
This is your best start to trading properly.