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Trading using Murray Maths and Price Action

  • #61
  • Mar 22, 2009 7:25pm Mar 22, 2009 7:25pm
Quoting ns_karthik
EJ broke thru solid resistance at 131.25 and is staying there...long at 131.30...
got out at 131.60....30 pips in 20 mins....42 pips in an hr...thats almost the daily quota of 50 pips...:-))..
  • #62
  • Mar 22, 2009 7:56pm Mar 22, 2009 7:56pm
Good calls on the EJ.
Quoting ns_karthik
got out at 131.60....30 pips in 20 mins....42 pips in an hr...thats almost the daily quota of 50 pips...:-))..
  • #63
  • Mar 22, 2009 9:30pm Mar 22, 2009 9:30pm
EU hitting resistance at 1.3672 on 1H chart...shorting here...if resistance is broken, planning to reverse and go long.,..
  • #64
  • Mar 22, 2009 9:32pm Mar 22, 2009 9:32pm
UJ has good support at 96.1....so maybe we could long here with sl at 95.90...

edit - long at 96.22
  • #65
  • Mar 22, 2009 9:44pm Mar 22, 2009 9:44pm
Quoting ns_karthik
EU hitting resistance at 1.3672 on 1H chart...shorting here...if resistance is broken, planning to reverse and go long.,..
closed short...12 pips....

edit - there is ur 50 pips for today....in 2 hrs...:-)...that too the asian session....
  • #66
  • Mar 22, 2009 9:45pm Mar 22, 2009 9:45pm
now we wait for EJ and GJ to pull back to their supports (131.25 and 139..) before going long...
  • #67
  • Mar 22, 2009 9:48pm Mar 22, 2009 9:48pm
missed a short of GU from its resistance at 1.4526 on 1H cos i was away from my seat...:-((...could have made 30 pips...
  • #68
  • Mar 22, 2009 9:58pm Mar 22, 2009 9:58pm
long EJ again at 131.25....
  • #69
  • Mar 22, 2009 9:59pm Mar 22, 2009 9:59pm
Quoting ns_karthik
missed a short of GU from its resistance at 1.4526 on 1H cos i was away from my seat...:-((...could have made 30 pips...

Hi Karthik,

thank you man, i really like your live trading. It really teaches us how to enter a trade.

-myfx-
-happyTrading-myFx.
  • #70
  • Mar 22, 2009 10:02pm Mar 22, 2009 10:02pm
Quoting ns_karthik
long EJ again at 131.25....

Hi Karthik,

Why u go long here? this is the ultimate resistance area and generally traders go for short from here.

-myfx-
-happyTrading-myFx.
  • #71
  • Mar 22, 2009 10:09pm Mar 22, 2009 10:09pm
Quoting myfx
Hi Karthik,

Why u go long here? this is the ultimate resistance area and generally traders go for short from here.

-myfx-
price had already broken resistance at 131.25 and gone up to 131.8....and now it is coming back to 131.25...a broken resistance acts as support going forward...so 131.25 was a broken resistance and now it acts as support....

exit long EJ at 131.40....15 pips...

edit - so now 131.25 acts as support...if thats broken, that will again act as resistance....and we then reverse and start shorting with 131.25 as resistance...
  • #72
  • Mar 22, 2009 10:58pm Mar 22, 2009 10:58pm
GU near resistance of 1.4526...need to see whether it will hold or break....

edit - if broken, planning to go long....euro session abt to start, so we could see some fake moves...
  • #73
  • Mar 22, 2009 11:12pm Mar 22, 2009 11:12pm
Quoting ns_karthik
GU near resistance of 1.4526...need to see whether it will hold or break....

edit - if broken, planning to go long....euro session abt to start, so we could see some fake moves...

looks like it might be breaking it....high for the day for GU has been 1.4536...will see whether that it cleared and will also wait 5-10 mins to confirm that it has broken and then go long....
  • #74
  • Mar 22, 2009 11:26pm Mar 22, 2009 11:26pm
Quoting ns_karthik
looks like it might be breaking it....high for the day for GU has been 1.4536...will see whether that it cleared and will also wait 5-10 mins to confirm that it has broken and then go long....
break confirmed.....
  • #75
  • Mar 22, 2009 11:37pm Mar 22, 2009 11:37pm
EU broke its resistance as well....
  • #76
  • Mar 22, 2009 11:45pm Mar 22, 2009 11:45pm
just place long in eu at 1.3687 with tp 1.3715, sl 1.3664, sorry by this time this tread was closed by EA already set with only 1 pip.other 2 taken at 1.3681 and 1.3691 , sl same 1.3664.

lets see .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #77
  • Mar 22, 2009 11:59pm Mar 22, 2009 11:59pm
market is waiting to make its next move.....which should come up in an hour or so....
  • #78
  • Mar 23, 2009 12:21am Mar 23, 2009 12:21am
exited all longs....GU +20, EJ +20, EU + 20......now watching....might go for lunch...so dont want to leave any position open.....will come back and evaluate....
  • #79
  • Mar 23, 2009 12:23am Mar 23, 2009 12:23am
as u can see, we have made more than 100 pips today so far...very safe with drawdown of less than 25 pips.....all that was needed was patience and good money management to take trades as and when u see it on the charts....
  • #80
  • Edited 12:50am Mar 23, 2009 12:27am | Edited 12:50am
Great my 1st trade of MM doing well , pa just crossed 1.3704 4/8 nMM great resistant/support area ,no coming down again & hope try hard to bereak with Frankfurt open & more with london open .sl changed to 1.3687 ,no they are over with profit 54 pips in 2 trades.

well enough.
fontu

Next looking short at 1.3733 tp 1.3720 or 04. Ni it was very fast can't take , may try long from 1.3704 ,if come back.

Yes taken long at 1.3706, tp 1.3728 sl 1.3696. No sl too close reduce to 1.3693 & tp increased to 1.3730
Not understand?better not follow my analyses!doubt clearer first, risks ++
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