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Trading using Murray Maths and Price Action

  • #881
  • Apr 6, 2009 1:38am Apr 6, 2009 1:38am
EU has broken its major hourly support...waiting for a retrace towards 1.3550 to go short...
  • #882
  • Apr 6, 2009 1:44am Apr 6, 2009 1:44am
GJ visited its highs of the day and slowly retracing....need to wait and see whether to short
  • #883
  • Apr 6, 2009 1:45am Apr 6, 2009 1:45am
Thanks for the heads up on the EU. I was looking at that one and wondering if the breach was within your parameters
  • #884
  • Apr 6, 2009 1:45am Apr 6, 2009 1:45am
Long set also worked very well for some pips but continue this time ,tp .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #885
  • Apr 6, 2009 1:46am Apr 6, 2009 1:46am
GJ broke its highs...waiting for a retrace to previous resistance turned support at 150.8 to go long...
  • #886
  • Apr 6, 2009 1:49am Apr 6, 2009 1:49am
I was trading a position today looking 15min.

but just looking at 5min indicator, seems S/R pretty accurate. nice

Quoting ns_karthik
no problem mate....
Attached Image
  • #887
  • Apr 6, 2009 2:03am Apr 6, 2009 2:03am
Quoting ns_karthik
GJ broke its highs...waiting for a retrace to previous resistance turned support at 150.8 to go long...
now ...how easy was that....got in on the retrace and made 26 pips....
  • #888
  • Apr 6, 2009 2:04am Apr 6, 2009 2:04am
Quoting ns_karthik
EU has broken its major hourly support...waiting for a retrace towards 1.3550 to go short...
took 15 pips on this one....
  • #889
  • Apr 6, 2009 2:17am Apr 6, 2009 2:17am
Quoting ns_karthik
took 15 pips on this one....

Good for u man...I am going long with UC and so far positive.
-happyTrading-myFx.
  • #890
  • Apr 6, 2009 2:21am Apr 6, 2009 2:21am
well did not really touch 1.3550 lo, high is 1.3547/48 something...
but anyway a good one.

karthik do you always find a major resistance break (say 1.3550), and next resistance penetrate (1.3535) and bounce-back as a good entry for at least a 2nd touch of 1.3535???

this sounds a safer idea to follow trend instead of open position before a resistance is tested say short at 1.3560 ?? (I always knock out of my tight s/l in that case)

sorry for many curiosities..

Quoting ns_karthik
took 15 pips on this one....
Originally Posted by ns_karthik http://www.forexfactory.com/images/buttons/viewpost.gif
EU has broken its major hourly support...waiting for a retrace towards 1.3550 to go short...
Attached Image
  • #891
  • Apr 6, 2009 2:24am Apr 6, 2009 2:24am
Went short on UJ at the 101.17 failure. Got in at 101.13. Looking for 20.
  • #892
  • Apr 6, 2009 2:31am Apr 6, 2009 2:31am
taken long position for the first kick expected .
fontu

Anyway nobody should follow any trades specially I do, they are very risky ,see ur chart,learn & do whatever seems right only.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #893
  • Apr 6, 2009 2:56am Apr 6, 2009 2:56am
gj
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  • #894
  • Apr 6, 2009 3:02am Apr 6, 2009 3:02am
Quoting billye
well did not really touch 1.3550 lo, high is 1.3547/48 something...
but anyway a good one.

karthik do you always find a major resistance break (say 1.3550), and next resistance penetrate (1.3535) and bounce-back as a good entry for at least a 2nd touch of 1.3535???

this sounds a safer idea to follow trend instead of open position before a resistance is tested say short at 1.3560 ?? (I always knock out of my tight s/l in that case)

sorry for many curiosities..


Originally Posted by ns_karthik http://www.forexfactory.com/images/buttons/viewpost.gif...
well, first of all...i dont trade SR based on 5M charts....i trade 1H SR using 5M charts...and it is not that is wait for specific entries...for eg. in this case, even though i said that i would wait for retrace to 1.3550, its not that i wait for that exact price....i wait for it to approach 1.3550 and sometimes i do jump the gun and jump in early if i feel that it may not reach 1.3550...after all, its only a few pips of extra risk which i can manage cos of my leverage...

as u pointed out, i could have jumped in going long close to 1.3550 assuming that the support would hold....but the problem was that right for the past few hours EU (and also AU, both are quite related) has been quite weak....so i really did not expect the support at 1.3550 to hold and thats why i did not go long at the support...

when a support or resistance is broken and price runs past it, normally there is a retrace back to the SR within 5-10 mins....its not guaranteed that the price will always retrace back to the SR on the pip...sometimes it gets close to SR but not exactly there...sometimes the retrace overshoots the SR by few pips etc....u have to see how price is working and sometimes u have to jump in early rather than waiting for the retrace to hit the SR to the pip...this retrace happens 70% of the time...30% of the time, the retrace may not happen at all....and the price might simply keep running....
  • #895
  • Apr 6, 2009 3:13am Apr 6, 2009 3:13am
Quoting ns_karthik
well, first of all...i dont trade SR based on 5M charts....i trade 1H SR using 5M charts...and it is not that is wait for specific entries...for eg. in this case, even though i said that i would wait for retrace to 1.3550, its not that i wait for that exact price....i wait for it to approach 1.3550 and sometimes i do jump the gun and jump in early if i feel that it may not reach 1.3550...after all, its only a few pips of extra risk which i can manage cos of my leverage...

as u pointed out, i could have jumped in going long close to 1.3550 assuming...

Thank you, very clear.
-happyTrading-myFx.
  • #896
  • Apr 6, 2009 3:35am Apr 6, 2009 3:35am
EJ looks good for s short with a big resistance at 137.50...
  • #897
  • Apr 6, 2009 3:40am Apr 6, 2009 3:40am
Hi ns_karthik
i am relly happy with all your post here .. thanx to open this thread tooooo much.

i am going to start reading from begaining .. but it seem hard to cover all of thing ..

if u could please insert or make note in First Post for any thing important u updated in mid of thread .

thanx in advance
Never sell @ lower upward channel unless breacked and vise versa .
  • #898
  • Apr 6, 2009 3:46am Apr 6, 2009 3:46am
Quoting ns_karthik
EJ looks good for s short with a big resistance at 137.50...
Thanks , hope so .will follow till 137.68 & up & break down of ultimate resistance .

gj if break up +1/8 MM to up 151.95 or down conform break again .

May shorts are knocking at the door +-

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #899
  • Apr 6, 2009 3:56am Apr 6, 2009 3:56am
strange !Gold 880$ !! we are going down perhaps then .....
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #900
  • Apr 6, 2009 5:42am Apr 6, 2009 5:42am
Quoting billye
why?

i am not watching gold so i really cant comment on whether it or GJ is going down....but here it the reason....gold is considered a safe asset and GJ a risky asset....so when people want safety, they buy gold, if they want risky returns, they buy the jpy crosses...so if gold price rises, it means people want to move on to safe stuff and so gold rises and jpy crosses go down...

so gold and jpy crosses are usually inversely related...
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