The Miner "U" Method

[roddy]

Hi Miner

been at work tho only have to work approx 4 hrs today,nothing wrong with the chart,in fact it appears you can do a lot more with it than my fxcm charts,

i have eur/jpy and usd/jpy on screen very nice,i think i may have missed this one,
is your target for usd/jpy 117.45

cheers roddy

[miner]

Hi roddy yep trade is done or best bit is,put a trend line on 5min on eur/jpy and usd/jpy,breaking it now,was just trying to post my 4 chart set up for the move.

And yes that is-was my U target and 166.84 for eur/jpy,but getting messy so if on tight stop or jump,it's getting that sideways messy look about it.

So today a bounce U for 50 odd back to low for 50 odd and this one for 30 odd pips,cant sort all charts to post at one go so will do one at a time for eur/jpy to show you this last trade,keep in mind drew lines a while ago as been trying to sort to post.

Cheers
Miner

[miner]

Let me know what you think.

Cheers
Miner

[arco]

Thats interesting Miner...............

We have both traded the same move using different techniques.....
......................Gartley for me - U for you. (See the ALERT thread).

As a point of interest do you exit when the TL is broken?

rgds - arco

[roddy]

Hi Miner,

the results speak for themselves very impressive,a simple system with well defined entry on the 5 min and equally once its done its thing you are out or ride it back down.
nice

roddy

[miner]

Hi Arco as a general rule yes,this trade also had that messy sideways look to it which it has done,if like last night on eur/jpy it's looking good for a target I don't let a spike down (with the candle in question say 5min finishing ok) take me out,ie give it a bit of room.

With a U run you can get a small trendline break so I give them a bit of room and often they turn and do a mini U and carry on(if see an example will post chart.

Roddy yep an ok day,at the moment I am sitting on my hands until I can see a pattern-target,why play when messy you just get stopped out.

Cheers
Miner

[miner]

Arco Re your trendline question,it is to hard to see the 5min candles so posted the 15min for last nights move,so on the 5 we got trendline breaking dips but they get a mini U turn candle at the bottom of them and as it was looking good for the bigger U I give them room so as not to get stopped or they are a chance to buy the dip.

The roundy top also broke the hourly trend line so that was the sell,roddy notice the eur/usd roundy top was well slow,where as the eur/jpy top was fast and sharp so therefore not a roundy top.

Cheers
Miner

[roddy]

Hi Miner

regarding eurjpy is it ready to short?

roddy

[miner]

Not for me as I don't have a target and it is to messy,also look at usd/jpy sideways mess,so for now I will wait until I see something patience is very important in this game and not worrying if you miss a move as there is always another.

If you watch it it will probably not do what it should,as in good looking candles one way then off the other way it goes,also the good move theory is that it has done well since this morning,that was the easy good move so far today,so now wait for another.

But in saying the above if you think short you may see something I don't,will post if I see a target,usd/jpy hourly is looking a tad roundy though.

Cheers
Miner

[miner]

Also keep in mind that I am definitely not the sharpest knife in the draw at the moment.

Cheers
Miner