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Trading using Murray Maths and Price Action

  • #681
  • Apr 2, 2009 10:34am Apr 2, 2009 10:34am
Quoting ferndog
Buy E/U 1.3428 TP at 1.3489

good one mate...
  • #682
  • Apr 2, 2009 10:38am Apr 2, 2009 10:38am
Quoting yarally
Hi Ferndog, your call is good! What's you reason for this good call. I would like to learn.
simple, bounce off support...right , fern??
  • #683
  • Apr 2, 2009 10:56am Apr 2, 2009 10:56am
Quoting ns_karthik
simple, bounce off support...right , fern??
Correct simple bounce that's all
  • #684
  • Apr 2, 2009 10:58am Apr 2, 2009 10:58am
GU broken thru support...GC hit resistance and is now falling back...thos who want to bget in...be patient ....if and when GC breaks thru 1.6602, go short....if it goes thru 1.6750, go long...
  • #685
  • Apr 2, 2009 11:06am Apr 2, 2009 11:06am
E/U will get out either at 1.3474 or 1.3458. So either +30 or +46 pips TP
  • #686
  • Apr 2, 2009 11:25am Apr 2, 2009 11:25am
ok guys...its Sneha time...
Attached Image (click to enlarge)
Click to Enlarge Name: sneha00340.jpg Size: 89 KB
  • #687
  • Apr 2, 2009 11:27am Apr 2, 2009 11:27am
Quoting ferndog
E/U will get out either at 1.3474 or 1.3458. So either +30 or +46 pips TP
Nice call +20 pips

But one question. How did you realise to play short or long there at 1.3428? It is 4/8 for 1H and 4H and price has been bouncing there for like 2 hours.

I will keep an eye on this thread
  • #688
  • Apr 2, 2009 11:30am Apr 2, 2009 11:30am
Quoting sparrow
Nice call +20 pips

But one question. How did you realise to play short or long there at 1.3428? It is 4/8 for 1H and 4H and price has been bouncing there for like 2 hours.

I will keep an eye on this thread
Bounce off 4/8 1H. Daily is up look for a dip in price then go long.
  • #689
  • Apr 2, 2009 12:10pm Apr 2, 2009 12:10pm
Quoting ns_karthik
GU broken thru support...GC hit resistance and is now falling back...thos who want to bget in...be patient ....if and when GC breaks thru 1.6602, go short....if it goes thru 1.6750, go long...
What pairs do you typically trade?
  • #690
  • Apr 2, 2009 12:23pm Apr 2, 2009 12:23pm
Went short G/U at 1.4720 TP at 1.4794
  • #691
  • Apr 2, 2009 12:39pm Apr 2, 2009 12:39pm
Quoting sparrow
Nice call +20 pips

But one question. How did you realise to play short or long there at 1.3428? It is 4/8 for 1H and 4H and price has been bouncing there for like 2 hours.

I will keep an eye on this thread
Just like you said prices were bouncing around the same area for 2 hours & that meant in this case that the price was having a hard time going down because if you notice the candles had longer lower wicks. So the shorts were having a hard time keeping the price low. So it finally broke out to the upside for nice gain.
  • #692
  • Edited 1:03pm Apr 2, 2009 12:44pm | Edited 1:03pm
Hello traders!

Great thread!

I'm not trading very much at the moment, i'm actually a system programer (tradestation) and i had some serious drawdown in my manual trading lately so i'm trying to cool off a little bit. But honestly, this method fascinates me!

However' i'd like to know a little bit more about the actual trigger...is it a candlestick formation? How do you decide the moment to get in? Do you watch a lower timeframe to pinpoint the trigger? Or do you use the 1 hour timeframe only?


All the best,

Jakob
  • #693
  • Apr 2, 2009 1:06pm Apr 2, 2009 1:06pm
Closed G/U short 1.4705 for +15 pips. Went long U/J 99.32 TP 99.61
  • #694
  • Apr 2, 2009 1:15pm Apr 2, 2009 1:15pm
Quoting Jakob
Hello traders!

Great thread!

I'm not trading very much at the moment, i'm actually a system programer (tradestation) and i had some serious drawdown in my manual trading lately so i'm trying to cool off a little bit. But honestly, this method fascinates me!

However' i'd like to know a little bit more about the actual trigger...is it a candlestick formation? How do you decide the moment to get in? Do you watch a lower timeframe to pinpoint the trigger? Or do you use the 1 hour timeframe only?


All the best,

Jakob
I think it's personal preference. I use 1 hr for scalping. I also use longer TF if i can't watch the charts. Candlestick formations help me with making decisions.
  • #695
  • Apr 2, 2009 1:41pm Apr 2, 2009 1:41pm
U/J took profit at 99.58 for +26 pips
  • #696
  • Apr 2, 2009 1:42pm Apr 2, 2009 1:42pm
Quoting ferndog
Closed G/U short 1.4705 for +15 pips. Went long U/J 99.32 TP 99.61
well done
  • #697
  • Apr 2, 2009 1:51pm Apr 2, 2009 1:51pm
Thank you ferndog!

How long have you been trading this system?
Demo or Live?

I'm trying to learn it now and will start demotrading soon!

Best regards,

Jakob
  • #698
  • Apr 2, 2009 2:24pm Apr 2, 2009 2:24pm
I trade live. I started using this system since last year. I had seen it before but at that time was using other systems. This system gives you good areas of S&R & i like that type of trading. So it gives you clear areas of entry & exit.
  • #699
  • Apr 2, 2009 2:29pm Apr 2, 2009 2:29pm
Yes, i like S/R also for trading, but i had a problem with setting the SL sometimes.....what about short gbp/usd now? 1.4707?

regards,
Jakob
  • #700
  • Apr 2, 2009 2:42pm Apr 2, 2009 2:42pm
G/U short now looks good. Keep SL just above the 1.4709. Maybe 1.4725. SL just depends how much you are willing to risk. If i can keep an eye on my trade at all times i just look at the price action & decide. If I truly believe that my trade will go where i think it will go, i will hold on longer.
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