The Miner "U" Method

[miner]

As no one else is posting take a look at the U trade on eur/jpy and it's mate usd/jpy today(hourly),played out just as a U should,KISS system I know but hey it works.

Cheers
Miner

[peat]

do you expect the Eur/Jpy 'U' to take it back to 128ish Miner, or are you talking about just the top litte U which has already completed over the last 48 hours of trade?

[miner]

Hi peat was the little U from 135.61(top) back to test last nights low at 134.40,so 100 odd pips,think the bottom of that U at 133.59 may be the low so looking long,BUT is messy as for now so sitting on hands till see a trade,as if you force a trade you loose if you wait for it to come to you your usually ok.

The U in question gave a nice clear target and not a bad candle turn on the 15min.

Hard to talk U lingo but hope that made sense?.

Cheers
miner

[peat]

yeh I was thinking more the potential U in yellow or the completed one in red but I think you actually mean the one in purple.
If that yellow one was to come to fruition it would be nearly a thousand pips.

[miner]

That's a big yellow U but then one U tends to lead to another,a bigger U(than the one I was talking about) was from the shooting star daily on the 30/3,generally I play a shorter game,as in that U today take the money and wait for the next one.

If you played the little U's in that big yellow there would be allot more than 1000pips and on smaller stops,more trading but each to his own.

For the yellow one you tend to have to run big stops,I usually have an initial stop of 20pips then creep behind as the move goes.

Cheers
Miner

[miner]

Hope you got some of that peat?,not my night first my charts didn't keep up on the site I use then had to go shoot a possum as the dog was nutting off,then my trading station froze,bugger.

Cheers
miner

[roddy]

Hi Miner Peat,Arco
miner i hope you got your trading station sorted
i dont think this has been posted anywhere elsa but it does look like it has potential,
also divergence on the rsi

[miner]

Hi Roddy yep sorted itself out,bit messy today see how we go tonight.

Cheers
Miner

[miner]

Simple trendline on eur/jpy and usd/jpy 5min giving some nice U trades,resistance targets on the left,the worm is trying to turn.

Cheers
Miner

[miner]

Hi DB thought would post this as it's a good example of what I was talking about last night,that is how if you set a line off the FIRST 2 candles of a turn it often comes back to it even though it may look miles off when you set it.

See how it came back and the run turned on it,so back to test,part of what I am talking about when say bigger picture,so combined with other charts and it's mate usd/jpy looking long also,it was all set up for the long.

If I put my other lines on they would show the break north,15min is a very good one to watch for turns and moves.

Cheers
Miner