Just throwing this out there for practice for me and other who might need it to recognize patterns, and you can be critical if you want it would help me out. It looks to me that an ESP pattern on the EUR/JPY( I dont trade it just looking for patterns for practice) Looks like it was on the 11:45 am Eastern Time Zone candle on the 25 min chart. Then I looked to the 5 min at that point bb/kc were level so entry at midline. It seemed like a clear one to me but what the heck do I kknow. I saw it set up so I on the demo put entry at 160.954 and took profits at 160.843 thats after the spread so 11 pips. And it continued down another17 pips or so and it is still down there. Is that a viable pattern I saw or just get lucky on the demo? Thanks
At this stage everything is set except for some fine point on the [B]Intermediate [/B]level.
I am doing my best to get this level to be only a little more difficult than the [B]Basic [/B]level.
The [B]Advanced [/B]level is where all the heavy pips come in. 
Yes this to me is short term trading by no means scalping. I think of scalping as I did it for years in equities is taking large shares 10-20k shares and making pennies hundreds of times a day. Very stressful for little money clips and then a big bang loser, in scalping u really cannot set a stop loss becuse u shouldnt be in long enough and scalping in forex is ridicuouls in myeyes becuse of the slow moves and spreads. I got so excited to scalp forex cause it is not so capital intensive as other financial instruments but my eyes were opened. Its not economical or does it really make sense. This is short term trading at is best from what I have read here. And believe me shrot term trading is hard for me becuse of my scalper mentality and it has gotten me into trouble these and other markets that arent really set up for that. So now I am trying to be adaptable( I think thats important for any trader new and old) to learn from others and adapt to any market enviroment and dont fight that enviroment adapt to how it trdes and make money. Thats whay I am doing here and in just a few days reading this it has breathed new life into me.
Very good question to post on UMS Live 
which is dedicated to training.
That will help a lot if you add a snapshot of your screen.
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way. Also read the live thread, UML Live and UMS Live
Hmmmmm…
I don’t trade the EUR/JPY. :o
But I will take your word for it!!
As I expected, with all your previous experience in stocks and futures, you are catching on real quick!!
FX,
I tried to attach but new to this , Let me know if you see it
Thanks for the info I thought I had read it in the thread but did not remember where.
Thanks I am waiting for you to release the new revision of your methods
File was to big so I tried to zip it maybe this will work
So FX the first chart was the ESP pattern and this chart is the 5 min entry candle it is the green candle in the elipse as close to the midline of bb/kc I could get.
IMO it is not an ESP.
Ok can you explain why you would trade that one. It will help me better to recongnize, thanks. It looked good to me but again I am so new at this I might just be trying to recongize any thing thats close. I am not sure if u got the other chart as well the 5 min entry and the 25 min patternor so called pattern
Maybe it was quite over or touching the upper bbline to well
nyrdarren,
EDIT : Check answer on UMS Live…
Does this system work with bullish patterns? I traded a demo on an abandoned baby earlier today, which dropped in a massive plunge by over 100 pips (good old 10 pip stop loss saved me form real pain).
But not including this anomaly, will bullish signals and the reversing of all rules (ie, upper/lower starc bands etc) result in the same success as purely bearish signals?
And are all bearish signals a sign to get in? I’ve read religiously the link Tymen posted on page one of this thread which has great examples and rules of patterns.
It will be good if bullish behavior can be exploited as well as bearish!
Yes Cordite,
This system will get into the long patterns. Tymen started on it, but is now refining his system to give us the finished product.
That is why we now have UMS and UML threads, kind of like a Q&A thread for the short and long patterns.
They are to be treated differently.
Ah, I missed the UMS and UML being related to this stratergy.
Will head over to those threads now and take a look at what’s on offer, cheers VC.
Hi Every body,
A Harami Pattern is formed on 22nd in EURUSD daily chart.The Price broke down Low Price of 22nd I.4758 and moved down. The weekly chart is showing bearish intermediate term trend.Hence the preferred direction is short or stand aside.Those who have shorted made some good pips.The Price on 26th Tuesday made the low of 1.4571. If you combining candlestick with western indicators.RSI (14) on daily is showing a positive divergence which indicates to close all the short positions and wait on sidelines looking for next clue where the price is going to. The daily EURUSD chart attached for the readers to have a look and understanding:):):):).Good trading.Muraleedharan.
Muraleedharan,
Why are you posting this here. It has nothing to do with Tymens system. I suggest you start a new thread for your take on the market.
I second what VulcanClassic wrote.
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this and set your screen and computer that way. Also read the live thread, UML Live and UMS Live
Yes [B]Muraleedharan[/B].
I understand your interest but we consider the following patterns :
[U]Long[/U]
3 green soldiers
long engulfing
Piercing pattern.
[U]Short[/U]
Dark cloud
short engulfing
evening star.
If you have a Harami pattern you are better off going to James’ thread :
[B] 40-100 pips a day live trading.[/B]
You will find plenty of interest in your harami there.
This thread specializes in the Harami pattern for all currency pairs.
We also do not consider the traditional indicators here - only the Bollinger band.