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Trading using Murray Maths and Price Action

  • #1,141
  • Apr 8, 2009 3:31am Apr 8, 2009 3:31am
I do not see any direction in eu or any I used to play . It is flat at the 0/8MM & ready to go either side .down is most expected but can't rule out long for over 50 pips . can go down 131.51 & up again to 132.44 1/8MM & down again .
anything will happen , flat market in london session should indicate some more up or down will happen .I saw many times , gone against my general believe or analysis .

no prediction & just we will follow it for safely with lines .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,142
  • Apr 8, 2009 3:32am Apr 8, 2009 3:32am
Interesting....i thought it's clearly bearish....but on the other hand, if it can't keep below the 0/8 in the 1 hour chart.....hm.
  • #1,143
  • Apr 8, 2009 3:46am Apr 8, 2009 3:46am
Quoting sparrow
You were talking about EU. 1H time frame
Watch out. price declined from the open and has now formed a reverse H & S and is bouncing back and forth on th 0/8

I am not taking a trade as yet on this, but I would imagine if price can break above 1.3200 again, it is going to complete the reverse H & S and target the 1/8 at 1.3245 .

If it fdoes not break above the right neck line at 1.3200, then it is un clear to me and I would not be interested in it for a while
  • #1,144
  • Edited 4:09am Apr 8, 2009 3:54am | Edited 4:09am
Quoting smjones
Watch out. price declined from the open and has now formed a reverse H & S and is bouncing back and forth on th 0/8

I am not taking a trade as yet on this, but I would imagine if price can break above 1.3200 again, it is going to complete the reverse H & S and target the 1/8 at 1.3245 .

If it fdoes not break above the right neck line at 1.3200, then it is un clear to me and I would not be interested in it for a while
Good observation we not see all things all times .perhaps start bulls/ breaking up & waiting confirmation ?
fontu

Yes working nicely we head to 1/8MM before fall and this not inverted H&S pattern in down trend should indicate continuation.Now waiting break up 1.3213
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,145
  • Apr 8, 2009 4:05am Apr 8, 2009 4:05am
Broke 1.3200 and now is stalling just a bit. anyone care to say why it is stalling . I will answer in just a moment.
  • #1,146
  • Edited 4:21am Apr 8, 2009 4:08am | Edited 4:21am
Ok it is because price is now right at the top of the down channel that was formed from the high price that was put in at 1.3584 on 04/06. I would set my stop to BE here and will see if price can break thru the channel.

I am a very cautious trader and if this does not work out I lose nothing and will wait for the next one.
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  • #1,147
  • Apr 8, 2009 4:22am Apr 8, 2009 4:22am
So bounce from top of the down channel in H1 , but now at the bottom of up channel in m15,m5 & perhaps start up to finish the course ,retest 132.13 & up .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,148
  • Apr 8, 2009 4:26am Apr 8, 2009 4:26am
Quoting fontu
So bounce from top of the down channel in H1 , but now at the bottom of up channel in m15,m5 & perhaps start up to finish the course ,retest 132.13 & up .
fontu
I don't know. Higher time frames are always more powerful than lower time frames. I am not taking a trade here, because It does not jump out at me and I have conflicting confluences. There is price at the top of the down channel which one would think would go down. and then there is a reverse h & s which one would think price would go up. So, I am reticent and am going to wait for the next one.
  • #1,149
  • Apr 8, 2009 4:35am Apr 8, 2009 4:35am
Quoting ns_karthik
MM levels repaint depending on the price movements in a day....if the price ranges within a small range, the levels dont repaint....but i open and close my MT4 atleast once a day just to ensure that the lines are drawn again...
Hello karthik,
It is worth reading of your Murray Math trading technique. BTW, I am very newbie to forex trading. Juz watching the market and wanted to know my stand before getting into real. i dont know the meaning of some of the terminologies which u used. As I said i am very newbie to this forex trading. Moreover I am part time trader.
What do you meant by MM level & MT4
  • #1,150
  • Apr 8, 2009 4:58am Apr 8, 2009 4:58am
Quoting fxtyro
Hello karthik,
It is worth reading of your Murray Math trading technique. BTW, I am very newbie to forex trading. Juz watching the market and wanted to know my stand before getting into real. i dont know the meaning of some of the terminologies which u used. As I said i am very newbie to this forex trading. Moreover I am part time trader.
What do you meant by MM level & MT4
Hello,

MM = MurreyMath level / lines
MT4 = MetaTrader4 (Trading station)
-happyTrading-myFx.
  • #1,151
  • Apr 8, 2009 5:47am Apr 8, 2009 5:47am
~~~~~ 1.3245 GAP filled karthik (pic was afternoon's)

still, 1.3306 never touched...

U/CHF, 1.4444 GAP also filled.

Quoting billye
touched again...

1.3245 GAP?
1.3306 GAP?
http://www.forexfactory.com/attachme...1&d=1239161319
  • #1,152
  • Apr 8, 2009 6:00am Apr 8, 2009 6:00am
The inverted H & S won out
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  • #1,153
  • Apr 8, 2009 6:02am Apr 8, 2009 6:02am
Quoting smjones
Watch out. price declined from the open and has now formed a reverse H & S and is bouncing back and forth on th 0/8

I am not taking a trade as yet on this, but I would imagine if price can break above 1.3200 again, it is going to complete the reverse H & S and target the 1/8 at 1.3245 .

If it fdoes not break above the right neck line at 1.3200, then it is un clear to me and I would not be interested in it for a while
u got this one absolutely spot on mate...
  • #1,154
  • Apr 8, 2009 6:04am Apr 8, 2009 6:04am
there is a lot of resistance for EU from now to 1.3305....so until that is cleared, no longs on this yet (if u r not in a long already)...
  • #1,155
  • Apr 8, 2009 6:05am Apr 8, 2009 6:05am
Quoting smjones
The inverted H & S won out
where is the key to this big ATM machine named Scott?

oh!! i must hack it.
  • #1,156
  • Apr 8, 2009 6:06am Apr 8, 2009 6:06am
GJ moved thru strong resistance at 146.88 and looks good for more...
  • #1,157
  • Apr 8, 2009 6:11am Apr 8, 2009 6:11am
How about the risk/reward in GJ?
  • #1,158
  • Apr 8, 2009 6:14am Apr 8, 2009 6:14am
Quoting ns_karthik
GJ moved thru strong resistance at 146.88 and looks good for more...
bingo...took 38 pips...
  • #1,159
  • Apr 8, 2009 6:14am Apr 8, 2009 6:14am
Hi Karthik,

Hope you are having a good trading day. I sold USD/JPY earlier on failure at the 0/8 resistance level. Got some easy 20 pips. Right now watching PA at the re-test of the same level... thinking about selling again, not sure about PA this time though.

This MM indy is indeed good stuff...

Cheers
  • #1,160
  • Apr 8, 2009 6:14am Apr 8, 2009 6:14am
GJ still need to punch up through the H1 down channel though.

I think that it can, because the last low did not reach the bottom half of the channel. Usually an indication of a change of trend.
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