I have a pretty dumb question here. Kindly take a look at the chart i have posted and take note of the 2 circles. Why are there gaps between 2 candles? A candle’s open should correspond with the preceding candle’s close. Is this a problem with the trading platform or…?
This happens from time to time, its related to the connections and datafeed of the trading platforms.
Don’t be alarmed because it happens on almost all trading platforms especially on small intra day charts, should not affect your trading.
Hey,
For those using Dealbook, whats the best way to setup all the charts we use with Tymen’s method? I have it setup on a 15" laptop so I have the workspaces window put along the bottom and have 2 graphs per workspace.
Is there a better way to set this all up? Especially since I’m looking at the PA trading using MA’s thread also. So it would be nice to be able to swap between.
I was going to ask what you all thought of this as a pattern, as the bollinger wasn’t quite horizontal. I took the screen shot, and buy the time I had organised the post I saw what happened to the graph.
Would you of seen the first graph as tradable? I didn’t get the chance to go to the 5 min graph.
Hi slane
I would wait for the BB’s to be in favour. maybe a trade that got away :)I use a different platform and that pattern did not appear the same and was a no trade for me
best regards
Dave
There is something i cannot understand.
I see a nice bullish pattern formed at lower BB, but the lower BB and mid BB are still pointing down. So i wait for both BBs to turn level. Once they turned level, I switched to the 5min chart and saw the Starc Bands and mid BB going up sharply. So i entered long immediately since all conditions are fulfilled. However, the moment i entered the trade, price began to reverse on me. And 2 candles later, the Starc bands turned down and i exited with a loss.
Im pretty sure i followed all the rules? Seems like if i were to wait for BBs on main chart to agree before i switched to the 5min chart to enter the trade, it would be too late already. This happened to me twice today and i simply cannot comprehend what went wrong. Please help
Hi Kohkohnut
what pair ,TF and gmt ?
Hi Dave. I’ll post the charts here to make it easier.
First circle shows the pattern, second circle shows roughly where I switched to the 5min chart for entry.
First circle shows where i entered, second circle shows where i exited. The candle went red against me right after i entered. And i exited when the starc bands started to turn.
Hi kohkohnut
look at BB’s again. mid BB on main chart not level. This is same pattern Slane posted so you are both spotting good patterns but be awware of the BB’s
best regards Dave
I’m sure you all know this but I want to share it just in case.
I was finding that when I back test, I was ALWAYS getting very good trades without fail. Initialy I thought it was because when back testing, you get a sneaky preview of what the bands are doing. So I tried to compensate for this to no avail.
Then it dawned on me…I was trading the wrong candles :o
I would find the time of the last candle in the main TF pattern,
goto the 5 min chart and find that time candle,
then go to the next candle and start trading from there.
What I didnt realise is, that the time on the candles is the START time and NOT the end time.
What I now do is, go to the 5min chart find the time candle and then count the required number of candles according to the main chart TF (eg. 25min TF then count 5 x 5min candles) and start there.
This means that I have a more realistic view of whats happening to decide whether to enter/exit or not.
This is a rediculas error to make, just wanted to make sure that others arent doing it aswell :o
Hi Kohkohnut
Kockneerebel is absolutely correct about the BBs. Be very careful with your entry requirements.
That said, there are a couple of things I would like to mention
After waiting for the Bands to LEVEL out, you entered a long trade way outside the upper BB. In such circumstances, it may be beneficial to wait for a lower 0.7 starc tag and exit at upper 0.7 tag or 1.0 tag. With level BBs you’re not looking to make a fortune, be satisfied with a modest take.
The main TF pattern was fairly strong with no real down trend to speak of. In these circumstances I have found that, the next candle or the one after that is mostly a good one. Considering this, I would have entered a careful trade at the first tag of the lower 0.7 band and exited at the upper 0.7 (if Starc bands still level) or the 1.0 (if marginally up), if the Starc bands went sharply up…wait to exit and see what happens. You could have had 2 trades before you actually entered using this method.
Point 2. is NOT strictly what Tymen says to do however, I have found that it works so far. Point 1. tho, is a must…in my opinion 
Hope it helps
Yeah ur right abt the mid BB. I entered the trade because:
I probably should have been more strict abt entering the trade and waited for mid BB to turn flat first. However, I went ahead because of the following observation.
It seems like whenever i wait for the BBs in the main chart to turn flat or in my favour before entering a trade, price would have hit the mid BB already. And i believe that the mid BB should be our first profit target, thats why we should not trade when any candle in the pattern touches mid BB. When price action after the pattern touches mid BB, I have observed that 2 situations occur very often.
(1) PA will continue to move towards the opposite BB
(2) PA will bounce off mid BB and reverse towards BB where it came from
In this case, I expected (1) to happen but (2) occured instead. What i am trying to say is, whenever I try to wait for BBs to agree, it would be too late for an entry already and there wouldnt be many pips to grab as PA has already breached mid BB which is supposed to our first profit target.
Please correct me if i am wrong
It is perfectly normal for PA to move outside BB if the movement is very steep. If u were to wait for retracements before entering, u would have missed out the big move already? Worse still, u enter at a ‘retracement’ and PA reverses on u.
“In these circumstances I have found that, the next candle or the one after that is mostly a good one.”
Which candle are u referring to?
If both sets of BB and Starcs are level at best then it’s risky to enter so far outside your BB. Tymen recomends that you use 0.7 and 1.0 for entry points for this case. Outside your BB would be a great exit point but a very poor entry.
I’m taking about the 1st or 2nd candle after tha last candle in the pattern.
Strict adherance to Tymens rules bring the best results with this system. Sometimes a lot of patience is required. Try to avoid to much deviation or tradeing “nearly” set ups
In this case mid BB and starc bands in 5min chart was going in trade direction sharply. I have to agree that outside BB would be a good exit rather than entry though. Guess i got carried away.
Unfortunately, from what i have observed so far, most of the time BBs would not be in agreement within the first 2 candles after the pattern.
Did anyone else get the piercing pattern EUR/USD TF 20min at 14:20?
Enter @ 1.5015
Exit @ 1.5035
Sorry for no pics, I still have problems with my computer:mad::mad:
So am I right abt the point that most of the time mid BB would have been breached before the BBs are in agreement? As such it is not realistic to have the mid BB as first profit target?
Hi kohkohnut
Mid BB never has been a profit target with Tymens system. Entry and exit are taken from Starc on 5 min chart. Check pdf for further understanding 
best regards
Dave
the mid BB is where we expect price to return to which is why we want to enter towards it but as far away as possible
As far as I can remember, During the second thread Tymen said something about tagging the mid BB being an indication(only) that more care should be taken when entering a trade. But it didn’t make it into the UM final edition.
Like Kockneerebel says, Entry and Exits only according to the 5min chart but withing the 7 or so main chart candles.
Do you stick to UM 100% or do you trade other methods aswell or partially even?