I am well aware of the red star in the evening star pattern. 
The chart shown here depicts and evening star in an equities chart and not a forex chart.
The pattern setup is different.
Now I have found that the red star tends not to be as reliable or as stable as the green star.
That is why I did not mention it.
There is nothing to stop you trading with a red star, however.
Just be careful!! 
I enjoy your candour on the computer subject.
Yes you can go back and edit the original. In fact when you click “Convert to PDF” it will create a new file for you, leaving the original alone.
Tymen:
Thank you so much for your comment. I will definitely be careful while trading those patterns. Appreciate your help.
Regards,
Muthu,
Chennai India.
The reason “[U]The trade was playing hide and seek for a while[/U]” was because of the mid BB on the [U]main chart.[/U]
Did you look at it carefully?? 
It is going up quite strongly, even though the outer BB were in order.
This automatically creates a problem trade. :eek:
You need to look at the Bollinger bands as a whole, not split them into parts of your thinking.
Not only does the upper BB here need to be going at least level (which it is), but also the mid BB needs to be showing potential for going level as well.
In this case there was no sign of the mid BB improving its direction.
Therefore, caution in the trade - and that is what you experienced. :eek:
Further, the star was red - and I did say in my previous post that red stars in evening stars make for more unstable trades!! :eek:
Tymen:
Thank you once again for your comment. I went back to the chart to have one more look at the mid bb…Yes it was pointing UP !!! Looks like i got lucky on this trade. The rules were not fully followed.
Regards,
Muthu
Chennai, India.
[B]DodgeV83 [/B]has already given you a correct answer to this one.
The “dark cloud cover” requires that the 2nd upper wick is much longer than the 1st upper wick.
This was not so in your case.
Further, the top of the red body (open), was slightly lower than the top of the green body (close).
That is an absolute NO NO for a dark cloud cover!! :eek: :eek:
[U]The best case[/U] (not very often seen in forex) is when the top of the red body is well above the top of the green body!! 
I will see if I can find this “trade” on my own charts and open the 5 minute and make a comment next post.
Please stand by.
Ah, our posts crossed over.
Thank you. You have seen your own mistake.
I indeed suspected that the mid BB was going up, against you.
Saves me the task of searching!! 
[B]Why, why, why[/B] did you exit early???
The rules are clear - complete with diagrams!!
When the mid BB and Starc bands are in AGREEMENT, both going down (or level) you [U]delay the exit!![/U]
Your entry was correct, all you had to do is sit on your hands and watch the pips come in!!
Exit would be when the Starc bands change direction.
Anyways lets have a look at the exits here. The move was too fast i could not point to the correct exit point. The E marks the exit area though.
Too early - no exit point there!!
Wait for the Starc bands to turn (basic exit) or wait for a [U]good [/U]exit.
Do you remember what a “good” exit is?
[B]Soldier on!![/B]
OK, my own trading work now!!
Post again tomorrow.
I better start practising sitting on my hands !
Dodge:
Are you planning to post any you tube videos in the near future ?
Muthu.
Yes. I’ll probably post a summary of my recent trades, and recent non-trades :o tomorrow.
Alright…then will wait for the videos. They look interesting to see the trades on video. Your desktop looks very artistic especially lining all 48 charts. Wish that could be done on windows xp that i am running…
Muthu.
I thought this last trade of your was very well taken. I would have considered taking it myself if I had been awake (6.00 am UK time). My only concern was the closeness of the last (3rd) candle in the pattern to the mid BB line. They were almost touching. My impression was that this may not give you enough room to get at least 10 pips. In the end you could have managed that and a whole lot more comfortably.
Mickey.
Mickey:
Thank you for your valuable comments. You are right the pattern on 30m had no room as it was very close to middle bb. However, if you look in to my post, i was also looking at the other chart 40m which had little room enough to reach the mid bb, that gave me the comfort level to take the trade.
Regards,
Muthu,
Chennai India.
Ok…Just after US open I had an opportunity to short the Cable. Although the pattern is not the text book dark cloud, the open of the red candle seemed bit high than the close of previous green candle. The red candle’s wick was not as big as i would have liked. I still took it. Lets see how the play worked. The entry is marked as E and you can also see the horizontal dotted line which marks the entry as well.
Ok here is the entry on 5mchart. The horizontal dotted line marks the area entred. It is also marked E.
There was a retrace as was seen by the green candle on the 5m chart (previous chart ) and there was a major news lurking by so i decided to close the trade. This is how the main chart looked when i closed. The oval shows the pattern, while the bigger box shows the over all play.
Again no text book trade. The move gave some good pips though. I welcome your valuable comments to improve our trades.
Regards,
Muthu.
Chennai,
India.
