do you guys just trade reversals , pull backs ?
Just patterns off the outer Bollinger Bands to the mid Band or opposite outer band unless a trend starts then ride the trend.
AARRRRGGGGGHHHH
My hard drive blew up :mad:
Got a new one now, but its gonna take a while to reload everything.
Lost EVERYTHING on the drive, it was completely uncoverable:mad:
Just lettin you know cos it’ll be a while before I can contribute again.
kinda what i do too.i also use a stoc.5 3 3 or 8 3 3 , whatever , and a 13 bar ema . and rsi. if i’ve pierced the band at least once and get C S reversal and a stoc cross around 20/80 or better and rsi is pointin up/down i go long/short , as long as 5,8,13,21 ema or any combo of these stay in order i hold position.maybe if stoc passed thru the 13 ema i’d double down . maybe if stoc went trhu the 20/80 i’d add to posiition again . as soon a stoc started to roll over , i’d start gettin outta the position.before stoc passes 13 ema again i’ve decided to reverse and go long/short againist previous position or let it go.that’s in a perfect world lol . hope tis makes sense , been the ****tail hour for quite a while now:p
So is this one a good engulfing pattern or a bad evening star?
Hi black swan
I would prefer a longer wick on second candle , But if the BB’s were in favour I would trade this pattern
best regards
Not evening star, but ok engulfing
Here are the two patterns I demo traded today:
This one looks like your standard evening star, but I realized later then even though the red candle is exactly 50% the size of the first candle, it does not extend half way down. Not sure if this is a problem.
This one is a little more interesting. You have two evening stars in a row, the first one sends the price action level and the second sends it down. Notice the upper BB was no good after the first pattern, but by the second it was level turning in. It would be better if the first pattern was seated on the upper BB.
For both patterns the mid-BB was still going up so the trades were entered with caution. I made about +32 pips and never was my stop loss in danger. What I am learning though after looking at the 15m charts is that I should have hung around and kept using the starcs to make additional entries.
Definately.
The power behind this method is the 2nd and 3rd stage trade. But make sure that you’re still within the 7 bar(main graph) or so period, it gets more and more unpredictable the further you go.
If you dont trade the other stages, your missing out on what UM has to offer.
This was my first trade using this system but it failed.
The patteren I made it out to be was a Short Engulfing. I am not sure now as the lower wick on the green candle is very long. Is this too long to be an Engulfing? or was my stop too close? Just bad luck?
Just want to know what others think of this and maybe learn something from it.
Any comments are welcome,
Simon
Sorry Simon it wasn’t a good pattern and was not on the outer Band.
you should read the PDF and study the patterns in it.
Hi,
Ok my laptop crashed and i am unable to trade ! I will be back in few days. This cannot be taken as an evening star as the third bear candle is no where near 50% of the first candle. However, it does make a good engulfing pattern. However, watch out for the bollinger bands especially mid bb. This calls for a risky trade. Good job Blackswan and others who are posting charts. Keep them coming. We can learn a lot only by looking at charts.
Regards,
Muthu.
Chennai.
India.
Hi,
The pattern formed no where close to the upper bollinger bands. Ideally i will look for a pattern that rests on bollinger band. Remember we are trading reversal patterns and we want them to form on the outer bands and ride the trade till midd bb or further more. However good effort made. Keep your charts coming. We can learn more.
Regards,
Muthu.
Chennai.
India.
No, of course it wasn’t. Seems obvious now but it looked ok yesterday. How could I overlook such a simple thing:(
Thanks for the responses,
Simon
Hi Simon
Just keep looking and posting, practise makes you better
best regards
Thanks kockneerebel,
I have a bit more trading time today than normal so maybe I’ll find something:D
always happy to help. I am usually at my screens until 18:00 although this is not the only strategy I trade. if you see something and want confirmation just post and I will get back to you fast 
best regards
Dave
Any particular currency pair/time of the day/day of the week that we can expect to see more of such candlestick patterns?
Im not trying to be lazy here but i suppose not everyone here can afford the time to stare at 8 currency pairs and xx number of charts the whole day for the right pattern to appear. Are there any specific currency characteristics that would be helpful to part time traders? Or the candlesticks appear randomly at any time of the day, any trading session, any day of the week, any currency pair and any time frame?
usually patterns appear in pairs or TF’s you are not watching and almost always as soon as you move away from your screen
the market is out to get you 
best regards
You actually don’t need to stare. Since the shortest time frame is 20 minutes things aren’t happening that quick. First if the last couple bars are not seated on the outer BB you can look away. You can see when a pattern might be forming and you should pay more attention. Yes you do need to be near your computer and check your charts but you don’t have to be in the seat continuously.