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Murrey Math and Quantum Method

  • #1,001
  • May 23, 2017 2:13pm May 23, 2017 2:13pm
Quoting rafael5643
CAD/JPY has moved up about ~60 pips. Currently short AUD/JPY based off nice 0/8->8/8 move with nice 15 min and 1 hr candlestick formations off 8/8. Up about 8 pips on it.
Hope you do not mind, had a long day looking at charts and my head and eyes are a little tired, but could you please show a couple of your charts for me to see what you mean, thank you
  • #1,002
  • May 23, 2017 3:23pm May 23, 2017 3:23pm
Quoting OAPDave
{quote} Hope you do not mind, had a long day looking at charts and my head and eyes are a little tired, but could you please show a couple of your charts for me to see what you mean, thank you
Closed out AUD/JPY at break-even, should have taken my 10 pips.

I'm going to go over the CAD/JPY trade because I have had a great deal of success with this recently.

First I'm going to drop this chart that everyone has seen but most people do not use.

Attached Image


Here is my CAD/JPY chart

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In the murray chart you see 2-3-2-3-0/8's.

You will see in the CAD/JPY chart it makes that exact movement then has a very nice pin bar off of 0/8. It also is off a nice point of support as well.

I've had great success recently looking for nice candle stick formations off of 0/8 after it has gone 2-3-2-3/8's. It does not have to move exactly in those lines either it could go slightly out on each side as long as it resembles the movement.
instagram: stepbystepforex
  • #1,003
  • May 23, 2017 4:26pm May 23, 2017 4:26pm
Quoting rafael5643
{quote} Closed out AUD/JPY at break-even, should have taken my 10 pips. I'm going to go over the CAD/JPY trade because I have had a great deal of success with this recently. First I'm going to drop this chart that everyone has seen but most people do not use. {image} Here is my CAD/JPY chart {image} In the murray chart you see 2-3-2-3-0/8's. You will see in the CAD/JPY chart it makes that exact movement then has a very nice pin bar off of 0/8. It also is off a nice point of support as well. I've had great success recently looking for nice candle...
Thank you, super post and charts, text book trading, keep it up and more posts and charts would be most welcome
  • #1,004
  • May 23, 2017 5:01pm May 23, 2017 5:01pm
Quoting rafael5643
{quote} Closed out AUD/JPY at break-even, should have taken my 10 pips. I'm going to go over the CAD/JPY trade because I have had a great deal of success with this recently. First I'm going to drop this chart that everyone has seen but most people do not use. {image} Here is my CAD/JPY chart {image} In the murray chart you see 2-3-2-3-0/8's. You will see in the CAD/JPY chart it makes that exact movement then has a very nice pin bar off of 0/8. It also is off a nice point of support as well. I've had great success recently looking for nice candle...
Dropped my charts back from a look back of 256 to now a 64 also highlighting the 4 bar cluster pattern Cad/Jpy Daily
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  • #1,005
  • May 23, 2017 8:30pm May 23, 2017 8:30pm
Quoting OAPDave
{quote} Think I would need to see how many signals I get (Daily) then see the kind of moves (Length of moves in pips) then see if an average R/R could be found, but I think you would make a lot of money with perhaps just a 2 to 1 R/R ( the position of entry in reguards to MM) might be a factor, got to nip out now but have a look at that G/N both Daily and 60min, expand my reply this afternoon when I get back
I've been pouring over the D1 Charts too.

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Worthy of note is the overlap section marked on the D1 chart of GBPCAD which can throw you out of then back into another long trade victorious to the upside!

Notice how small the loss was though in the first trade taken out of this overlap section.

Perhaps not all are like this but I'll search through the D1 charts and try to find some 'nasty' examples.

As a possible exit I see the following:

If a long setup has occurred look to exit on the close of 2 D1 bearish candles in a row.

If a short setup has occurred look to exit on the close of 2 D1 bullish candles in a row.

There are also examples (plenty) to be seen in the D1 charts that even if you get kicked out of the trade using the above exit strategy it is possible to get straight back into another trade.

This can happen say in the case where you were short and 2 bullish D1 candles kick you out then the very next 2 D1 candles both close red ... you are now back in the short again.

Yes there are plenty of examples where this has happened in the past and no doubt will occur into the future.

Looks quite solid so far.

As always the live test is what its all about so I'll post a live trade as soon as one sets up.

Also if a setup occurs say at the close of the D1 candle and it happens to be a Thursday meaning an entry on a Friday then perhaps think twice before entering the market.

Weekend gaps can create issues on many pairs and knock you clean out of the trade on Monday morning (something to think about).

So I would be looking at setups to play out with possible entries from Monday morning through to Thursday morning NOT on a Friday morning.

I am not suggesting that an early morning entry needs to be made as one might like to wait until London Open to unleash the setup into the market.

Masterrmind............
Master your Mind then Master your Trades
  • #1,006
  • May 23, 2017 8:43pm May 23, 2017 8:43pm
Quoting rafael5643
{quote} Closed out AUD/JPY at break-even, should have taken my 10 pips. I'm going to go over the CAD/JPY trade because I have had a great deal of success with this recently. First I'm going to drop this chart that everyone has seen but most people do not use. {image} Here is my CAD/JPY chart {image} In the murray chart you see 2-3-2-3-0/8's. You will see in the CAD/JPY chart it makes that exact movement then has a very nice pin bar off of 0/8. It also is off a nice point of support as well. I've had great success recently looking for nice candle...
Nice observation.

Price tends to move in waves.

The pin bar or rejection at the 0/8 and extreme MMLs as well as some internal MML levels can provide some nice bounces to the next MML levels.

I have found that the internal MML can be a little tricky to get right.

The other point is to have a SL and TP that 'fits' with the MML settings currently being applied on the traded chart.

Masterrmind............
Master your Mind then Master your Trades
  • #1,007
  • May 23, 2017 8:45pm May 23, 2017 8:45pm
With my 2 EURUSD shorts still in play what I'll be looking for is 2 red D1 candles in a row.

Then I'll be able to breathe a little easier.

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Ha ha ha!

Masterrmind.............
Master your Mind then Master your Trades
  • #1,008
  • May 23, 2017 9:11pm May 23, 2017 9:11pm
Quoting rafael5643
{quote} Closed out AUD/JPY at break-even, should have taken my 10 pips. I'm going to go over the CAD/JPY trade because I have had a great deal of success with this recently. First I'm going to drop this chart that everyone has seen but most people do not use. {image} Here is my CAD/JPY chart {image} In the murray chart you see 2-3-2-3-0/8's. You will see in the CAD/JPY chart it makes that exact movement then has a very nice pin bar off of 0/8. It also is off a nice point of support as well. I've had great success recently looking for nice candle stick formations off of 0/8 after it has gone 2-3-2-3/8's. It does not have to move exactly in those lines either it could go slightly out on each side as long as it resembles the movement.
anyone have EA based on this strategy can share me, please ?
thanks
  • #1,009
  • May 23, 2017 10:18pm May 23, 2017 10:18pm
Quoting thangnd.1211
{quote} anyone have EA based on this strategy can share me, please ? thanks
I wish, I do believe it would be possible to do that.

I just thought of this & started trading with it a few weeks ago, no EA.

If someone with the programming talent did that it would be cool.
instagram: stepbystepforex
  • #1,010
  • May 23, 2017 10:32pm May 23, 2017 10:32pm
I'm going to share one more trade that I did today then I'm done! This one does not have to do with Murray Math but I hope you find it interesting.

I went short AUD/USD a few hours ago, here are a few charts showing engulfing bars all the way from 15 min to 1 day in a point of strong resistance.
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You can see at the peak there where it created a halfway downward engulfing bar.

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After the 15 min engulfing bar the price continued to move down and created a 1 hour engulfing bar.

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THEN after the 1 hr engulfing bar price continued moving down for a 4 hr engulfing bar!!

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Then you already know, after the 4 hr engulfing bar price continued to move down to create a daily pin bar!!

What does all this mean? It means price continued to move down in a consistent methodical way and created candle stick formation after candle stick formation.

What else does this trade have going for it? It is in a down trend, creating lower lows and lower highs.

Also on top of that you can see that the daily pin bar hit a strong point of previous support (flip to resistance?)

This is a rare set up and I may still lose this trade, but to me this is an A trade.
instagram: stepbystepforex
  • #1,011
  • May 23, 2017 11:55pm May 23, 2017 11:55pm
Quoting rafael5643
I'm going to share one more trade that I did today then I'm done! This one does not have to do with Murray Math but I hope you find it interesting. I went short AUD/USD a few hours ago, here are a few charts showing engulfing bars all the way from 15 min to 1 day in a point of strong resistance.{image} You can see at the peak there where it created a halfway downward engulfing bar. {image} After the 15 min engulfing bar the price continued to move down and created a 1 hour engulfing bar. {image} THEN after the 1 hr engulfing bar price continued...
Its the same old process if the trend continues and you get in at the start it looks fantastic.

But knowing when this will occur is the million dollar question.

I hope your trade runs on for ages.

Masterrmind..........
Master your Mind then Master your Trades
  • #1,012
  • May 24, 2017 3:45am May 24, 2017 3:45am
Quoting Masterrmind
{quote} I've been pouring over the D1 Charts too. {image} Worthy of note is the overlap section marked on the D1 chart of GBPCAD which can throw you out of then back into another long trade victorious to the upside! Notice how small the loss was though in the first trade taken out of this overlap section. Perhaps not all are like this but I'll search through the D1 charts and try to find some 'nasty' examples. As a possible exit I see the following: If a long setup has occurred look to exit on the close of 2 D1 bearish candles in a row. If a short...
Yet again another informative post, thank you, me I am winding the clock back to Daily trading with either or a 64 or 256 then dependant on were price is, either just entering a trade with pure MM or using the 2up 2down for conformation, after a spurt of posts going to ease off a little now, happy with were we are at with Murrey and a little frustrated with the lack of interest on the thread, Rafael5643 post 1002 just shows what can be done trading the text book way, if guys want the robot trading so be it, but its not for me, Will always follow your posts and thoughts and just post from time to time as I really enjoy this thread, most likely be in spurts hahaha
  • #1,013
  • May 24, 2017 3:50am May 24, 2017 3:50am
efx001 here is a link I use the z version https://www.forexfactory.com/showthread.php?t=580364
  • #1,014
  • May 24, 2017 4:29am May 24, 2017 4:29am
Quoting Masterrmind
With my 2 EURUSD shorts still in play what I'll be looking for is 2 red D1 candles in a row. Then I'll be able to breathe a little easier. {image} Ha ha ha! Masterrmind.............
Never traded this one in my life before, should have been in the sell much sooner off pure Murrey but having ago at the 2up 2down, think there will be a little pain to start with
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  • #1,015
  • May 24, 2017 4:32am May 24, 2017 4:32am
Quoting OAPDave
{quote} Yet again another informative post, thank you, me I am winding the clock back to Daily trading with either or a 64 or 256 then dependant on were price is, either just entering a trade with pure MM or using the 2up 2down for conformation, after a spurt of posts going to ease off a little now, happy with were we are at with Murrey and a little frustrated with the lack of interest on the thread, Rafael5643 post 1002 just shows what can be done trading the text book way, if guys want the robot trading so be it, but its not for me, Will always...
Thanks Dave.....

I enjoy your posts too.

Ive also noticed that some pairs shine more than others with this 2up2dn D1 method so no doubt a discretionary component will enter the equation.

The EURUSD is a little shaky for instance.

In any case Ill post a D1 setup in advance of the fact and see how it turns out.

Probably be after the eu running trades have ended but I still have 0.2 lots that can be allocated to future trades so lets wait and see.

Perhaps a 0.1 lot D1 entry will be my first attempt.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,016
  • May 24, 2017 4:42am May 24, 2017 4:42am
Quoting OAPDave
{quote} Never traded this one in my life before, should have been in the sell much sooner off pure Murrey but having ago at the 2up 2down, think there will be a little pain to start with {image}
I hope you get a TP down near the 3/8 or better yet the 2/8 MML.

Go for gold.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,017
  • May 24, 2017 6:21am May 24, 2017 6:21am
Quoting Masterrmind
{quote} I hope you get a TP down near the 3/8 or better yet the 2/8 MML. Go for gold. Masterrmind.........
THEY might be setting a trap with RED NEWS coming but have a look at ALL Nzd pairs
  • #1,018
  • May 24, 2017 8:13am May 24, 2017 8:13am
Quoting OAPDave
{quote} THEY might be setting a trap with RED NEWS coming but have a look at ALL Nzd pairs
Yes plenty of movement.

Been watching them for a few hours.

Masterrmind..........
Master your Mind then Master your Trades
  • #1,019
  • May 24, 2017 8:28am May 24, 2017 8:28am
Quoting Masterrmind
{quote} Yes plenty of movement. Been watching them for a few hours. Masterrmind..........
There as been a lot of fuss over Strength Meters recently, never really interested me, thinking that they just follow price, with this in mind I have set my charts up in groups ie the Gbp pairs or the Eur Pairs etc etc then I have the setting as we know, now all I have added is a simple moving avg (5) as we are looking at a 4 bar cluster, all I am using it for is to gauge the overall strength of the main currency, what it shows to me is that Nzd is strong but the Eur is strong to, it looks as if it would have been better to have traded another pair eg overall weaker pair, think you get my drift
  • #1,020
  • May 24, 2017 9:19am May 24, 2017 9:19am
Is there a Murrey Math Indicator that has price alerts for each level? For example if I only want the +1/8 and +2/8 levels to give me alerts? Instead of the ones in between.
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