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Trading using Murray Maths and Price Action

  • #661
  • Apr 2, 2009 4:08am Apr 2, 2009 4:08am
From post# 7.

"so, u need to watch price action and ensure that the price stays below support or above resistance for atleast 15 mins before u could safely assume that it is broken...a lot of traders see a price spike beyond S & R and immediately enter into a trade assuming that the S or R is broken only to see the price going back within a couple of minutes..."

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #662
  • Apr 2, 2009 4:12am Apr 2, 2009 4:12am
Quoting fontu
From post# 7.

"so, u need to watch price action and ensure that the price stays below support or above resistance for atleast 15 mins before u could safely assume that it is broken...a lot of traders see a price spike beyond S & R and immediately enter into a trade assuming that the S or R is broken only to see the price going back within a couple of minutes..."

fontu
one last question, what determines your bias? For example, the eurusd recently reversed at the 8/8 at 1.3306 on the 1hr. If that holds for 15 min, then would you go short?
  • #663
  • Edited 4:42am Apr 2, 2009 4:22am | Edited 4:42am
Quoting toafdawg
one last question, what determines your bias? For example, the eurusd recently reversed at the 8/8 at 1.3306 on the 1hr. If that holds for 15 min, then would you go short?
Yes if it reach & break this level & stays 15 minutes above this level then I will consider it breaks up this level & think about long and if fail to stay over 15 minutes & come down again and stays 15minutes below this level ,that is 8/8MM not broken succesfully ,will try short but with precaution as trends are UP . now H1 & H4 are both in uptrend/channel & PA still fighting to break the intermediate sr of 132.90 above 7/8MM level in H1 and staying for some time above there and hence apprarently it broke this level & chances go up to the 8/8MM level but chances that it may fail break at any levels of intermediate relatively small sr in between bigger ones ,just react as per where the pa is & which sr interacting without any prediction that it will go to this level up or down .After failure if can retrace to have support below & try again & again.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #664
  • Apr 2, 2009 5:04am Apr 2, 2009 5:04am
Quoting toafdawg
one last question, what determines your bias? For example, the eurusd recently reversed at the 8/8 at 1.3306 on the 1hr. If that holds for 15 min, then would you go short?

yes, i would...
  • #665
  • Apr 2, 2009 6:12am Apr 2, 2009 6:12am
beautiful pull back from MM level at 146.88
  • #666
  • Apr 2, 2009 6:44am Apr 2, 2009 6:44am
great ranging going on....
  • #667
  • Apr 2, 2009 7:24am Apr 2, 2009 7:24am
Quoting bigandrich
130.85 now upper trend of bull flag and 130.27 the lower, wedge is getting tighter........
Beautiful breakout has played out. Looks like other pairs have as well. Just woke up. Good to see the stocking stuffed full of pips.
  • #668
  • Apr 2, 2009 8:41am Apr 2, 2009 8:41am
Quoting ns_karthik
as i have said many times, my target is 50 pips a day and with this method, i have been making that target every single day right from last March 2008.....it might seem small but if u compound it, u will realise that it is a huge number within 6 mnths....i also use this same method when i work for others to manage their funds and i have found it successful for them as well....

If u want, i can post a simple excel to show u how much u would be earning when u start with just $1000 but u get 50 pips consistently every day with just 3% leverage...within...

Sure, that would be great to see. That's really neat that this system is working so well for you. Thanks for all the help.
  • #669
  • Apr 2, 2009 8:51am Apr 2, 2009 8:51am
great bearish pin bar on the 4H of GC...already taken out 69 pips....waiting for break of 1.6602 to take more shorts...
  • #670
  • Apr 2, 2009 8:55am Apr 2, 2009 8:55am
decent looking bearish pin bar on 4H of UJ as well...lets see if it plays out...
  • #671
  • Apr 2, 2009 9:05am Apr 2, 2009 9:05am
dow jones is also up by more than 2%...lotsa things happening today...hmm...
  • #672
  • Apr 2, 2009 9:15am Apr 2, 2009 9:15am
its a tough time to predict the direction now...we have had a good bounce from support for GJ.....but UJ and GC have bearish pin bars....my heart says that the direction for all jpy crosses is down but there is nothing that seems capable of bringing it down, esp. with dow jones also up by more than 2%...
  • #673
  • Apr 2, 2009 9:27am Apr 2, 2009 9:27am
Hi ns karthik, do you have any reading materials on pin-bars?
  • #674
  • Apr 2, 2009 9:33am Apr 2, 2009 9:33am
Quoting yarally
Hi ns karthik, do you have any reading materials on pin-bars?

there is a thread on pin bars by james16...u can see it...most comprehensive on pin bars...
  • #675
  • Apr 2, 2009 9:46am Apr 2, 2009 9:46am
GU fighting against its resistance...
  • #676
  • Apr 2, 2009 10:04am Apr 2, 2009 10:04am
hi Karthik, what time frame on GU are you seeing resistance?
  • #677
  • Apr 2, 2009 10:05am Apr 2, 2009 10:05am
Quoting yarally
hi Karthik, what time frame on GU are you seeing resistance?
it has broken thru resistance in 1Hchart,,,
  • #678
  • Apr 2, 2009 10:16am Apr 2, 2009 10:16am
Buy E/U 1.3428 TP at 1.3489
  • #679
  • Apr 2, 2009 10:24am Apr 2, 2009 10:24am
usd/cad looking interesting
  • #680
  • Apr 2, 2009 10:28am Apr 2, 2009 10:28am
Hi Ferndog, your call is good! What's you reason for this good call. I would like to learn.
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