Karthik. This method is proving to be a gold mine.
5/8 support gj held like charm 50pips low risk.
Thanks bro.
Keep up the good work
5/8 support gj held like charm 50pips low risk.
Thanks bro.
Keep up the good work
Trading using Murray Maths and Price Action
- #1,102
- Apr 7, 2009 1:06pm Apr 7, 2009 1:06pm
- Joined Mar 2006 | Status: THANK YOU MERLIN,TWEE and FF Team | 4,603 Posts
agree! levels are good and well calculated center/SR
but how did you decide to travel short for 2 H1 levels? just curious.
did you use some other analysis for the going short? haha again I'm questionaires... sorry smjones
At about 11:00 GMT price pushed through the old MML and caused it to recalculate. So, I just stayed in, while moving my stop to just above the previous old MML that was closest to the current price at the time.
I debated with myself whether to enter a third short at 1.3260 at 10:00 GMT, but then decided there was no reason for price to continue further than the Murrey sequence at that time.
So when price broke through the lower boundry of the old MML I waited for price to retest the new calculated boundry. I then placed a short stop entry at 1.3226, but the order was not filled and price moved back up through the 1/8 new calculated MML and I closed everything then, because I know from expreience that the action is pretty much over for a while at that point.
BTW my actual exit I just looked was 1.3253, so after the re-qoutes I was slightly above the 1/8 MML and that is fine with me. Trading is NOT an exact science and every entry is, for me a range entry.
- #1,105
- Apr 7, 2009 1:20pm Apr 7, 2009 1:20pm
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
hi smjones, I agree with exit at 1.3245 for today.
also agree the levels are accurate,
remaining is how to judge to jump on break of 1.3367
and how to jump on without a slippage......
that one I have no clue but maybe I can learn next time.
good exp, I will trade till soros age so will be more years. ohyeah,
also agree the levels are accurate,
remaining is how to judge to jump on break of 1.3367
and how to jump on without a slippage......
that one I have no clue but maybe I can learn next time.
good exp, I will trade till soros age so will be more years. ohyeah,
21 years of experience. I know that after the initial volatility that propelled the move on the EURUSD for me to get the 2 entries, there would be a larger volume set of moves at around 12:00 GMT.
At about 11:00 GMT price pushed through the old MML and caused it to recalculate. So, I just stayed in, while moving my stop to just above the previous old MML that was closest to the current price at the time.
I debated with myself whether to enter a third short at 1.3260 at 10:00 GMT, but then decided there was no reason for price to continue further...
- #1,106
- Apr 7, 2009 1:28pm Apr 7, 2009 1:28pm
- Joined Mar 2006 | Status: THANK YOU MERLIN,TWEE and FF Team | 4,603 Posts
hi smjones, I agree with exit at 1.3245 for today.
also agree the levels are accurate,
remaining is how to judge to jump on break of 1.3367
and how to jump on without a slippage......
that one I have no clue but maybe I can learn next time.
good exp, I will trade till soros age so will be more years. ohyeah,
Price had broken down thru 1.3367 and had dropped below the GMMAs I had on the screen just to show me a visual on price direction and had formed the right shoulder of the H& S Pattern that ended the slight price rally that started at 0:00 GMT. Also, we had a double top at 06:45 and 07:05 and that was the Head formation. We also had a re-test of the MML and the GMMA at the relative same point where I put the circle.
And lastly the re-test bar was a PIN bar and it was just after the London open, so I could expect a good volume move. .
- #1,107
- Apr 7, 2009 1:37pm Apr 7, 2009 1:37pm
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
thanks seems a couple of indicators / pattern convergence.
I need to take back and learn it as homework. thanks smjones.
I seem to catch price below GMA... will digest others.
may have more questions though in my practice ha
S/R break-out seems to be one of the most amazing things coz it's pull-back vs reward ratio... like to look into it.
I need to take back and learn it as homework. thanks smjones.
I seem to catch price below GMA... will digest others.
may have more questions though in my practice ha
S/R break-out seems to be one of the most amazing things coz it's pull-back vs reward ratio... like to look into it.
Sorry, I don't understand, that for me was the clearest entry.
Price had broken down thru 1.3367 and had dropped below the GMMAs I had on the screen just to show me a visual on price direction and had formed the right shoulder of the H& S Pattern that ended the slight price rally that started at 0:00 GMT. Also, we had a double top at 06:45 and 07:05 and that was the Head formation. We also had a re-test of the MML and the GMMA at the relative same point where I put the circle.
And lastly the re-test bar was a PIN bar and it was just after the...
- #1,110
- Apr 7, 2009 3:25pm Apr 7, 2009 3:25pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #1,117
- Apr 7, 2009 9:01pm Apr 7, 2009 9:01pm
- | Joined Feb 2009 | Status: when dreamer meets reality | 1,397 Posts
GAPmorning karthik, I'm happy that Gap retested and filled, now both ways possible?
E/U 1.3306 was not retested and fill though
- #1,118
- Apr 7, 2009 9:13pm Apr 7, 2009 9:13pm
- | Commercial User | Joined May 2006 | 1,808 Posts
morning karthik, I'm happy that Gap retested and filled, now both ways possible?
E/U 1.3306 was not retested and fill though
