The Miner "U" Method

[miner]

Ok chaps will post my cunning plans here when I can and with a bit of luck won't get depth charged like a "U" boat,as always the same as shares MAKE YOUR OWN DECISIONS,posts will just be what I see or should that be think I see ?,anyways good luck.

Cheers
Miner

[miner]

Ok past my bed time but if anyone cares to look the turn on eur/jpy today was on the 15min chart at 03.30 then same low at 03.15,so as said before was looking long so today was just watching for the pull back turn.

Once we get the turn then we just watch the u targets,through one onto the next etc,so have hit the U target on eur/jpy and eur/usd so now doing the sideways thing,if through this target onto the next.

If we get a roundy top down we go,but with a bit of luck it will hold or do a bit more while I'm fast asleep (nice dream anyway).


So got a very tight stop on eur/jpy and will see if I'm stopped or not in the morning,see what U targets there are in the morning,eur/usd is starting to look like a roundy top on the hourly so may be toast.

Cheers
Miner

[miner]

Hmm the roundy top got me,should have jumped and gone short,O-well made a few pips.

Cheers
Miner

[peat]

Quite some time ago I noted how how that book wrote about on the forums here (and the one I leant to you Paul (Fib application trading strategy) is some ways resembled the Miner 'U' method in that it played on fib retracements and these often resemble U's

So here is one , anticipating some sort of recovery in the NZD after falling fairly heavily overnite and hitting the 261 extension so theoretically it should U it back to the target green line in the mid 7670's ....





hope you are well miner

[miner]

Hi Peat sick as a dog I'm afraid,there was a nice U on eur/jpy this morning and it may now be doing a U back to this mornings low,arco has posted on it just as usual I look at it from a different angle.

Let me know how your NZD U goes.

Cheers
Miner

[roddy]

Hi Peat,

Sorry didnt read your post until now Peat regard kiwi heading Northward,on Miner U trade/fib

have just exited at break even,not sure but might be seeing what Miner describes as a roundy top

cheers
roddy

[arco]

Afternoon Miner

Sorry to hear that you are not feeling too well......trust you will soon be on the mend.

Interesting - if anyone has Heikin-Ashi on their charts it may allow you to see more defined 'U' shapes.

Heikin Ashi (Average Bar) is a technique invented by Dan Valcu (some people say it was invented by Yasuji Yamanaka) as a method of plotting the Japanese candlesticks, the technique aimed to display the trends more clearly and put aside the noise and choppiness.

This is the formula the technique use to modify the normal candlesticks:

xClose = (Open+High+Low+Close)/4
The average price of the current bar

xOpen = [xOpen(Previous Bar) + Close(Previous Bar)]/2
The midpoint of the previous bar

xHigh = Max(High, xOpen, xClose)
The highest value in the set

xLow = Min(Low, xOpen, xClose)
The lowest value in the set


rgds -arco

[miner]

Hi Roddy as I'm brain dead so shouldn't be playing I will ramble a bit.

A good example of a roundy top was last night on eur/usd,look from when we got the big green that broke us out of the sideways mess,then the hourly's get smaller as we hit our U target (resistance) we finish with a spinning top and down we go,you can see how well it was rounding off on the hourly's.

As I said last night my eur/jpy long was probably toast due to this as they were following each other,but if you look at eur/jpy hourly's at the same time it finished the hour with a rush and above the U target,so looked good to do more,but eur/usd was saying south.

So eur/jpy was a good set up to go long and get nailed,this is one of the advantages of watching my 4 pairs and knowing how they move in relation to each other,it also gives you the jump on moves if one goes before the other.

Also once a U has got to a certain point they usually hit the target even if then they get nailed on it (last night,although that was mild sometimes they go the other way at a great rate of knots),so often when it looks really good one way you should be looking the other.

So like last night on eur/jpy if the U is looking set then "wait" and go long on the pull backs along the way.

Nice looking U that one Arco



As usual hard to explain but hopefully of some help.

Cheers
Miner

[roddy]

Hi Miner

Hay get well soon!
i think i am catching on,so last nite the big green on the Euro was the signal to go long on which ever pair you thought best.
and if there was no signal no trade?

cheers roddy

[miner]

Yes to get on the move late but yippee it's going to plan if you already were on,and the signals where there for it,just using the hourly (I use all 4 time frames for this) look at the 4 candles before the big one on eur/jpy and the 2 before the big one on eur/usd,if you look to the left on both we were breaking previous highs with those candles(so small U targets on the way to the big one).

See eur/jpy and usd/jpy are about to finish the U I mentioned earlier,so same as a pair we talked about last week the big down overnight,the morning bounce,then back to test the low,so a 100 odd pips between the 2 U's,as a bit of a battle to get to this target may be a long off it(battle as in look at the tails on the 5min).

I try and keep it all very simple,so at the risk of sounding like I am on some good drugs one way I look at charts is waves,as in they just go up and down and flow like a wave.

Again hope that made some sense.

Cheers
Miner