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Trading using Murray Maths and Price Action

  • #841
  • Apr 4, 2009 9:26pm Apr 4, 2009 9:26pm
Quoting ns_karthik
thanks Malcolm...i am previleged to have u post in my thread for the first time...Guys, he is a guy who i admire for his trading skills....i am a full time trader and a profitable one too but i am proud to say that Malcolm is someone who i admire...for one, he is a scalper like me but he also predicts the long term moves very well...

anyway, yes the ES seems good for a reversal as it is very close to strong resistances...btw, i guess the charts are from esignal....does esignal have MM indicators?? i am not able to find any in my charts??

combining...

do you have esignal ?
Blogging daily now at www.volume.zone
  • #842
  • Apr 4, 2009 9:39pm Apr 4, 2009 9:39pm
Quoting malcolmb14
do you have esignal ?

yes i do....
  • #843
  • Apr 4, 2009 10:27pm Apr 4, 2009 10:27pm
Quoting fontu
Though we scalpers go with PA without any prediction but certainly some analysis may help understanding market moves .
Just trying to understand GJ at it's presend status ( ? by this time market open may change a lot ) .
using daily chart with SR indicator & elliot wave count possible :
PA weekly cosed at 148.62 well above the good SR 148.33 inbetween 7/8MM & 8/8MM and can easily go up breaking 149.21 .8/8MM & upto 150.66. As I also plotting Elliot wave it will be the end of impulse wave 3 & tracement for wave 4 will be due , PA will be unable...

Short term trend of GBP/JPY is GMP is long, and JPY is Sell.

So, my view, for short term, Long GBP/JPY pair.

then only we look at chart to see where we should enter the trade...

agree?
  • #844
  • Apr 5, 2009 12:03am Apr 5, 2009 12:03am
Quoting FXselat
Short term trend of GBP/JPY is GMP is long, and JPY is Sell.

So, my view, for short term, Long GBP/JPY pair.

then only we look at chart to see where we should enter the trade...

agree?

market never goes from a to b in straight line ..... 150 we will have a retracement of 300 - 600 pips
Blogging daily now at www.volume.zone
  • #845
  • Apr 5, 2009 12:18am Apr 5, 2009 12:18am
Quoting FXselat
Short term trend of GBP/JPY is GMP is long, and JPY is Sell.

So, my view, for short term, Long GBP/JPY pair.

then only we look at chart to see where we should enter the trade...

agree?

hi,
can u pls explain how u say this pls...
  • #846
  • Apr 5, 2009 12:29am Apr 5, 2009 12:29am
Quoting malcolmb14
market never goes from a to b in straight line ..... 150 we will have a retracement of 300 - 600 pips

i agree with this...
  • #847
  • Apr 5, 2009 2:48am Apr 5, 2009 2:48am
Quoting goldcourse
ns_karthik,

Thank you for introducing this method. I will demo practice it starting this week.

BTW, I attached an indicator which I came across in forex-tsd and would like to share with you.

This indi can plot the H1 period MM levels(or rather any MML period) on any TF charts .

Attached is also an image of H1 MM levels on 5m GBPJPY.

Hope you find it useful.

Thank you again.

vincent
How can i install the file to reflect on my chart? Thank you
  • #848
  • Edited 4:50am Apr 5, 2009 3:33am | Edited 4:50am
Quoting FXselat
Short term trend of GBP/JPY is GMP is long, and JPY is Sell.

So, my view, for short term, Long GBP/JPY pair.

then only we look at chart to see where we should enter the trade...

agree?
Yes sure , after it reaches 150+ it should retrace substantially 141+ stated but may go down upto 138.18 easily & then u can place long , this week or the next or if reaches to 150+ and start down confirm can also place shorts.First continue UP & then considerable down wave 4 of the big impulse wave 3 about to end but by this time market open It may already Up or gap down, just suppose.Real time quotes sites not opeing ,trying open one after the other.

Yes malcom things are not so simple & PA can take any alternative courses any time & develop cause effect as per.

Anyway we to go with PA all the time as a scalper.

Welcome Malcom coming here & seems u have good knowledge in MM in depth , will try learning more too.
fontu

Got Real time price quotes for GJ bid 148.829 ask 149.09
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #849
  • Apr 5, 2009 6:30am Apr 5, 2009 6:30am
Quoting ns_karthik
Hi mate,
thanks for taking this thread seriously and going thru most of it and being diligent enough to pose some very relevant questions....

...if u r a scalper, u typically have a SL of 30 pips for major pairs...

....so i aim for only 15-20 pips a trade and i am happy to get it...


.
ns_karthik,

hi there. just wanted to thank you for your very informative thread...am a newbie and am definitely learning a lot in this thread....

just wanted to confirm a point though....most forex manuals i have read usually recommend having reward pips higher than the pips being risked for the trade but you seem to have it in reverse i.e. risk pips higher than reward pips...could you please clarify this for me?

once again many thanks for the thread and pls could we have more pictures of the bollywood star?
  • #850
  • Apr 5, 2009 7:57am Apr 5, 2009 7:57am
ns_karthik,

Thank you for a great read. I just finished the thread and was impressed. I enjoyed your explanations and your discussions. You have given me something to think about and even though I have traded for many years, I was able to add some ideas to my approach.

Someone in mid thread asked if there is a way to turn off the gray lines in-between the Murrey math Lines. So, in an effort to assist, I have added two inputs to the indicator ns graciously posted to allow you to turn on and off the gray lines and also the text in the upper left.
Attached File(s)
File Type: mq4 #MurreyMath-TimeFrame rev b.mq4   18 KB | 801 downloads
  • #851
  • Apr 5, 2009 1:32pm Apr 5, 2009 1:32pm
Quoting jumper99
ns_karthik,

hi there. just wanted to thank you for your very informative thread...am a newbie and am definitely learning a lot in this thread....

just wanted to confirm a point though....most forex manuals i have read usually recommend having reward pips higher than the pips being risked for the trade but you seem to have it in reverse i.e. risk pips higher than reward pips...could you please clarify this for me?

once again many thanks for the thread and pls could we have more pictures of the bollywood star?
thanks for visiting my thread and thanks for all your wishes...as i said, i usually go for a TP of around 15 pips and my SL is also only abt 20 pips...i see whether a SR is broken and if not, i take a trade and i immediately close it once it breaks the SR.....thats the advantage of taking trades near SR as u can keep your SL very small...cos if the SR is broken, u can be sure that ur SL will be hit even if it is 100 pips...

and yes, u can see more of her pics...here is one attached....i have thousands of her....so u will keep seeing her everyday....
Attached Image (click to enlarge)
Click to Enlarge Name: sneha03450.jpg Size: 203 KB
  • #852
  • Apr 5, 2009 1:34pm Apr 5, 2009 1:34pm
Quoting smjones
ns_karthik,

Thank you for a great read. I just finished the thread and was impressed. I enjoyed your explanations and your discussions....

Jones,
i have come across several of your posts in various threads of FF...i am previleged to have u post in my thread...thanks again...and thanks for all ur wishes....i look forward to ur continued and valued contribution to this thread...
  • #853
  • Apr 5, 2009 5:23pm Apr 5, 2009 5:23pm
perfect start to week

60 min GBPJPY came down and tested 7/8 mml on 60 min chart

on a 5 min chart the test was essentially the Upper value area of Friday and 3/8 mml bottom of range .

The 60 min has a target of 150 at the 8/8 mml and this seems to be the area that some are expecting a retracement from

on a 5 min the price is currently at its 6/8 mml and this is reversal major zone., . I have taken half off for 100 pip and moved stop +50 other half with target of 150 . when we break 140.60 then for sure 8/8 mml will be tested (150)

Attached Image (click to enlarge)
Click to Enlarge Name: snapshot-535.png Size: 217 KB


Attached Image (click to enlarge)
Click to Enlarge Name: snapshot-536.png Size: 194 KB
Blogging daily now at www.volume.zone
  • #854
  • Apr 5, 2009 5:27pm Apr 5, 2009 5:27pm
I have a trade open right now G/C short at 1.6780 hoping for a turn around. Trying to ride out the storm. Put a 100 pip SL.
  • #855
  • Apr 5, 2009 8:42pm Apr 5, 2009 8:42pm
hmmmm...all currencies have burst thru their major resistances....that in itself is a bit of a surprise for me...will have to see if this break will hold....short on AU on bounce from resistance at .7202....
  • #856
  • Apr 5, 2009 8:55pm Apr 5, 2009 8:55pm
Quoting ns_karthik
risky,
what r these indicators?? care to explain ur system??
yes, its murrey math with modification

its very simple indicator, only change periode in mm line
  • #857
  • Apr 5, 2009 9:03pm Apr 5, 2009 9:03pm
Quoting ns_karthik
hmmmm...all currencies have burst thru their major resistances....that in itself is a bit of a surprise for me...will have to see if this break will hold....short on AU on bounce from resistance at .7202....
got out with 5 pips.....0.7202 is a very strong resistanc...
  • #858
  • Apr 5, 2009 9:32pm Apr 5, 2009 9:32pm
Quoting ns_karthik
got out with 5 pips.....0.7202 is a very strong resistanc...
I was watching that one as well. I took a short at 150.68 and closed it at 150.38 on g/yen. Kept waiting for the 150 break on the way up, but decided against entering would have been a good quick one as well.
  • #859
  • Apr 5, 2009 9:55pm Apr 5, 2009 9:55pm
I had never posted a chart before so here is my entry, exit was as it crossed the 4/8ths major support/resistance line.

Attached Image (click to enlarge)
Click to Enlarge Name: geppy.gif Size: 34 KB
  • #860
  • Apr 5, 2009 10:30pm Apr 5, 2009 10:30pm
Firstly, thank you Karthik, for the stimulating introduction to MM. And the equally stimulating bollywood eye-candy.

Secondly, bit of a newbie question for anyone watching EUR/USD. Looking to short at 1.3611 if we see it, does that look tasty to anyone else? (MM line on 4hr chart)
non si dimentichi mai
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