Aariff thanks for the offer to email me. Dodge i will wait and see if it works later on as i get the same error on this one too.
Regards,
Muthu.
EG Dark Cloud - Main Chart. Ideally i wanted to have a much bigger wick for the second candle. Looked like the wick is big enough to enter the trade.
Use caution on this trade, the first Dark Cloud candle is touching the mid BB (a no no here) and the entry on the 5 minute chart was made before the 5 minute BB went down.
Dodge:
Right, caution required to trade this pattern; the downward pointing bbs on the main chart encouraged me to take this trade. Looked like mid bb was starting to going flat as i entered.
Muthu.
The piercing pattern looks marginal to me and all three bollinger bands are sharply pointed downwards. Definitely a cautious trade.
Muthu.
I don’t see anything marginal about the piercing pattern, nor were any of the BB’s against me when I took the trade. Care to post a screenshot so I can see what you’re looking at?
The pattern formed on the least of time frame that we trade (20m) and it is formed in downward facing bollinger band entering a tight sqeeze (Wonder how many pips potential it had got given the time frame and the distance of the pattern till midd bb). You can compare the slope of the bollinger band with the dotted lines if you are not convinced it is going down. Personally I will never look at it as a potential trade setup.
Regards,
Muthu.
Chennai.
India.
Both of you [B]muthusai2000 [/B]and [B]DodgeV83[/B] are becoming quite astute at selecting the candlestick patterns and checking the BB.
[B]It is now time to get greedy!![/B] 
Get as many pips as you can!!
If the Starc band turns and closes your trade, try to reopen when the Starc band turns in your favour again.
You can do this as long as the mid BB is in your favour.
Remember that the mid BB is a sma 20 period and the Starc is a sma 6 period.
The mid BB takes a lot longer to turn. 
Remember to do 2 entries to double the pip gain!! 
All the updating and correction of errors in the PDF is now complete.
I shall send to [B]Merchantprince [/B]the new set of Word documents so that the final PDF can now be made.
It is indeed the last work - everything is now in order.
New hyperlinks, extended credits, diagrams changed a little, reading reference and more.
All typos are now gone.
[B]So here we go!![/B]
I was watching the price action today just to see how it reacted to the mid BB and some MA’s,and the STARC bands.
Take a look at how the price went up 44pips and the bands never changed direction, then came down 14 pips, just as the second red candle opened the starc bands jumped up sharply and stayed up while the price came down.
I double checked it on another account and saw the same thing. 
There was no Pattern to cause me to be in a trade, but if there was I should have exited on the big spike at the lower BB and starc bands, even though the starc bands are still sharply down.
John
I can’t help but notice though I watch the charts for hours, even during the high volume trading of London-New York overlap there are few times that all the criteria are fulfilled to make a good trade. Has anyone else noticed this or is it just me?
It seems as if unless I remain chained to the comp all day, every 15 minute block, I will miss one of the rare chances to trade this system. It would be awesome to have an EA one could install to MT4 which would have the parameters of all 6 candlestick patterns and provide an SMS alert to my mobile when such a pattern occurs on the outer bollingers.
I take it that these are 5 minute charts.
[B]I see nothing unusual here.[/B]
As long as the mid BB and Starc bands are in your favour, it is possible to tolerate price action going against you.
Eventually the price action will go back in your favour.
However, if the Starc bands change direction then an exit is wise.
You can [U]re-enter again[/U] if the 6 period Starc bands go your way again, providing that all this time the 20 period mid BB is still going in your favour, and not changing direction.
It is meant to be a full time professional trading system.
The reward comes when you make the heaps of pips.
However, your charts are also meant to show up to 9 timeframes for each currency pair you trade.
This certainly makes the occurrence of patterns much more frequent.
[B]I know there are programs that recognise candlestick patterns (I have one on my Bullcharts stock trading program) - all you have to do is fit an alarm to the program!![/B]
[B]Merchantprince[/B], I have now sent you the updated and upgraded Word documents for the final PDF.
If you would be so kind as to do your amazing work again, I will be grateful.
It will be the final work!!
Then we can release it to the unsuspecting forum as a whole!!
This could be the one big weakness of this trading system. 
On the other hand, I think that we are expected to work for our money.
Sitting on a sunny beach under a palm tree sipping some favourite drink, while our computer back home if making pips in our absence is just a little too lazy, don’t you think?? :eek: :rolleyes: 