Good! A profit is a profit!.
I was stopped out at -12 pips.
Funny thing is that the TMoneyB strategy with this pattern made a nice 40 pips profit.
I’m stiil to figure out if the first bearish momentum reversal could have been avoided with different stochs settings. I’ll try this right now.
Great strategy though. Cut your losses, even though if it doesn’t work you can make a profit, and profit potential is huge.
Let’s see what other opportunities we find. 
idk how you guys trade miners strategy. it’s so confusing to me (all the trend lines and fibs and fibs of fibs on top of some fibs) tho, im sure once one masters this they can make some pretty accurate calls
EDIT
could the zigzag indicator help with the 5 wave trends and the corrections?
This thread didn’t start out as Miner’s Strategy…it started out as Walt123’s strategy and the ABC pattern with a time/price ratio. We’re not using trend lines…maybe you are referring to the fib tool line which connects highs and lows?
In order to understand ABC patterns, I used Miner’s strategy as a foundation to learn and understand a commonly known 5 wave trend and 3 wave correction…which is the ABC…to help identify when & where they are likely to develop. wrtm can understand this because of his learning the gartley/butterfly patterns on the 30 pips a day thread and is able to apply his knowledge of that to this.
So once we understand that part, we can move on to more specifics of the ABC pattern itself, and a time/price ratio, and should really simplify the process.
I’m reading a new book…Forex Wave Theory which really touches on this part of Walts method.
just edited my post 
and im looking to try miners strategy as he shows it tho it is a tad difficult
I believe it could I’m using it myself. It’s parameters can be tweaked in order to accentuate significant points of interest while ignoring points of less interest. All technical analysts find peaks and valleys of great interest, whereas they find areas of lateral price movements less interesting. Peaks and valleys are those points of inflection where price directions reverse.
Yes, and to requote Walt, he said this about it’s stats:
Using this system, you can expect the following results on a 4H timeframe:
40% at break-even
40% winning trades
20% losing trades
Profit-to-Loss Ratio (dollar amount won divided by dollar
amount lost): 15 - 1
MAX DD: 10% of EquitySo, with this system, you will win or break even 80% of
the time and you will lose 20% of the time. You will win,
on average 15 dollars for every dollar that you lose.The system will average 3-5 trades per week.
The risk level is, on average, 4% per trade.
Ok here is the analisys of the loonie, wich has a potential trade IF all conditions are met. I know it looks like a lot of work, it’s not that much, but even if at the end it doesn’t complete, spoting one that works is well worth the effort for the ones that don’t.
Here are the current conditions.
Higher Timeframe (Daily)
Lower Timeframe (Hourly)
And finally on a cleaner chart this is what we expect price to do.
inicio! lol
Again I’m having trouble finding time evidence to support this pattern.
All other three requisites are aligned, symmetry is great (wich is time related), BUT, since it’s a complex correction and it’s beyond 61,8% time fib retracement, but well before the 100%, I don’t find any timebands, additional fib time extensions, etc, what would be a reason of validity for it? Any suggestions? 
I’ve got The 2nd fib which measures from 5 to A, then projected from A, reaches 161.8% on this hours bar…which is the maximum ATP. Also the 3rd cycle fib on the last 2 HH’s forward projected from the last H also reaches 161.8% of it’s levels and also lands on this hours bar. So actually it’s looking pretty good for a reversal now!
Yes it is!
Ok, I entered short ej @ 130.99…s/l 20…t/p to be determined…:eek:
Me too! :rolleyes: (same price, sl 25)
[B]Edit[/B] Cool! As per my method 40 pips have been banked Price went down at 23.6 AD fib retracement. As for Miner’s, ok, no new swing highs have been made, but, I’ve already moved sl at + 5 pips, for both amounts.
Stop loss moved at recent swing high, wich is 10 pips above entry point, spread included.
Not sure is BE would be a better choice atm.
Nice eh!..lol
I moved s/l to +10…
Another technique is to trail the high of the prior bar, so when this hour bar completes, I’ll move stop to the high of it. Then cause I’m going to bed early tonight…busy weekend coming up …I’ll just put a trailing stop of 30 on it. 
Hope price takes us far! 
I’m falling asleep, I’ll try to monitor different exits, now that I think about it, I forgot about the bearish momentum reversal one, not recent swing highs/lows, but new momentum reversals on the direction of the trend…
I guess hourly candles already contain all this movement.
I can’t hide it I’m excited about seeing this trade showing us a good potential.
Anyway good night and have a nice weekend
Crap…got stopped out at +10…lol…such is life. You have a good weekend too
[B]UPDATE[/B] Well I got stopped out of this trade right above the recent higher high 
Well entry is still valid since we didn’t wait for the first bearish momentum reversal, so technically we are on the first retracement from the first bearish momentum reversal wich is supposed to be our entry point. We entered early. Still in :eek:
I think what was overlooked was that the really good convergence we had was only at the 38% of 1-5…[B]temporary[/B] resistance. Therefore it made sense that while it did react with some 40ish+ pip move from that level, it wasn’t finished going up yet.
So this morning when I woke up, it was at the 50% level of 1-5 and converged with 161.% expansion of 5-A. I was a little late in the entry, but I tried another short anyways. Set my standard 20 pip s/l and 100 pip t/p. WELL…lol…after getting ready for work, I came back to check on it and within that 1/2 hr it hit the 100 pip t/p!!! :eek:
So that’s +120 pips for this week…
You all must a be a whole lot smarter den me cause I don’t know whatcha you all is talkin’ 'bout.
