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Trading using Murray Maths and Price Action

  • #421
  • Mar 31, 2009 5:28am Mar 31, 2009 5:28am
Quoting myfx
waiting for sneha man...need to relax our eyes.
then u better make GJ drop...
  • #422
  • Mar 31, 2009 5:36am Mar 31, 2009 5:36am
Quoting ns_karthik
then u better make GJ drop...

I wish i could hehehe
-happyTrading-myFx.
  • #423
  • Mar 31, 2009 5:46am Mar 31, 2009 5:46am
trying a small short on EJ with resistance at 131.25...
  • #424
  • Mar 31, 2009 5:56am Mar 31, 2009 5:56am
Quoting ns_karthik
trying a small short on EJ with resistance at 131.25...
Me too... !!! waiting for another touch of 131.25...let see how the resistance works out...
  • #425
  • Mar 31, 2009 5:58am Mar 31, 2009 5:58am
Quoting JFXtrader
Me too... !!! waiting for another touch of 131.25...let see how the resistance works out...

i got out with 3 pips profit...the uptrend seems too strong to me....

i would rather wait for a break to go long....
  • #426
  • Mar 31, 2009 6:01am Mar 31, 2009 6:01am
GU, C, GJ and EJ near their highs for the day or near resistances....could go either way...considering how crazy it has been today, i expect them to go higher....
  • #427
  • Mar 31, 2009 6:03am Mar 31, 2009 6:03am
Quoting ns_karthik
i got out with 3 pips profit...the uptrend seems too strong to me....

i would rather wait for a break to go long....
did not place a Sell Limit order so I'm still on the sideline... waiting to grab it a bit higher...

Edit #1. Aborted the trade. Price action is totally bullish...
Edit #2. Look at that! all the way to 131.55 in 3 candles... Good I waited while watching PA.
  • #428
  • Mar 31, 2009 6:05am Mar 31, 2009 6:05am
Just pocketed +10 pips of AU.....trying another 5 - 10 pips on same pair.
-happyTrading-myFx.
  • #429
  • Mar 31, 2009 6:11am Mar 31, 2009 6:11am
Hi ns_karthik,

I also trade using the attached indicator; it is a black version...no colors.
EURJPY just broke resistance (Pivot) and now with fresh support.
Attached File(s)
File Type: ex4 MurreyMath Black.ex4   10 KB | 580 downloads
  • #430
  • Mar 31, 2009 6:18am Mar 31, 2009 6:18am
EJ broke resistance...going long...
  • #431
  • Mar 31, 2009 6:20am Mar 31, 2009 6:20am
Quoting andyre
Hi ns_karthik,

I also trade using the attached indicator; it is a black version...no colors.
EURJPY just broke resistance (Pivot) and now with fresh support.

thanks andy...another first time poster...love it...:-)..
  • #432
  • Mar 31, 2009 6:25am Mar 31, 2009 6:25am
I've been in the EURJPY trade since last night and have made 366 pips so far, and still in the trade, although it is at pivot zone right now.
Never think that s/r levels are exact science, but are rather tight zones to watch.
Everything else is relative.
  • #433
  • Mar 31, 2009 6:35am Mar 31, 2009 6:35am
Quoting andyre
I've been in the EURJPY trade since last night and have made 366 pips so far, and still in the trade, although it is at pivot zone right now.
Never think that s/r levels are exact science, but are rather tight zones to watch.
Everything else is relative.

cool maan...so can u explain to us what made u enter the trade and hold on to it so far?? cos my firm belief is that this rise is crazy and against the fundamentals ??
  • #434
  • Mar 31, 2009 6:42am Mar 31, 2009 6:42am
I thank you for answering querries i posted on Saturday. I have been following your live calls although i'm unable to take them as they are aggressive. But i am a conservative trader and i've attached one of the trades i took this morning using MM and price action which was a tweezer and i expected it to break long. I put stop buy at 1.4300 and a TP at 1.4340 3 pips shy of the 3/8 resistance. The MM is helping take such trades if the price action occurs at the S or R. Any comment is highly appreciated. NB There's a pin bar which is forming on the R area (UJ). If i confirm it at the close of the hour then i'll go short based on price action and MM.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 38 KB
  • #435
  • Mar 31, 2009 6:46am Mar 31, 2009 6:46am
Quoting Edonya
I thank you for answering querries i posted on Saturday. I have been following your live calls although i'm unable to take them as they are aggressive. But i am a conservative trader and i've attached one of the trades i took this morning using MM and price action which was a tweezer and i expected it to break long. I put stop buy at 1.4300 and a TP at 1.4340 3 pips shy of the 3/8 resistance. The MM is helping take such trades if the price action occurs at the S or R. Any comment is highly appreciated. NB There's a pin bar which is forming on the...

hope u made good pips on the GU trade...good for u mate....i guess that would have been a very good trade....

and nice of u to point out the UJ pin on the hourly.....it started below the resistance, broke thru and now falling back....if it does indeed close below the resistance , that would be a great pin bar for us to short....
  • #436
  • Edited 8:31am Mar 31, 2009 6:53am | Edited 8:31am
Quoting ns_karthik
EJ broke resistance...going long...
In the middle of a mess here... shoulda stop trading earlier...

Tried to long the support... went against me... 40 pips what the heck was I thinkin'... played the hedge method at 130.93... Now right in the middle -20 on my short, -20 on my long...

Tryin' to see where is ti heading to get out of this fugly hedge...

Edit # 1. Off the Long @ 0 pips loss. Still have this ugly Short -40 pips at this moment...
Edit # 2. Off the Short @ 0 pips loss as well. I can't believe I survive this hedge. NEVER again will hedge a position like this.
  • #437
  • Mar 31, 2009 6:53am Mar 31, 2009 6:53am
MurreyMath is just one of three indicators I use along with a colored RSI histogram and its cousin Laguerre (which is another variation of RSI), and are most important in determining my entry/exit points in all trades, and quite accurately. MurreyMath plays a secondary role only.
Judgement, timing and patience are key to success, as indicators are only tools. I trade the H1 chart, as it is midway between M1 and MN, not being too fast or slow. The daily chart can make you wait for trades happening at H1, so I prefer H1.
I also wish to correct a typo mistake from a previous post...it was 266 pips.
  • #438
  • Mar 31, 2009 7:08am Mar 31, 2009 7:08am
Keep watching for a closed candle past the resistance before taking the trade.
  • #439
  • Mar 31, 2009 7:11am Mar 31, 2009 7:11am
Quoting ns_karthik
hope u made good pips on the GU trade...good for u mate....i guess that would have been a very good trade....

and nice of u to point out the UJ pin on the hourly.....it started below the resistance, broke thru and now falling back....if it does indeed close below the resistance , that would be a great pin bar for us to short....

Unfortunately it wasnt a nice pin bar so i let it pass and i wont go long as that needs an aggressive trader.
i got 40 pips from it.
I am long on EU(from 1.3300 TP is at 1.3330) due to conflunce of the MM and the 365 EMA on i hr TF.
Thanks

Edward
  • #440
  • Mar 31, 2009 7:20am Mar 31, 2009 7:20am
This is the third hour that bulls are testing the resistance line at EURJPY; patience is a virtue. Stick around.
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