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Trading using Murray Maths and Price Action

  • #1,161
  • 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...
Broke above some fractal highs on the 5 min TF around 147.15 - 147.30 and looks like it wants to test the next MM level @ 147.66

GREEN PIPS to All
  • #1,162
  • Apr 8, 2009 6:18am Apr 8, 2009 6:18am
Quoting SmoothTrader
Broke above some fractal highs on the 5 min TF around 147.15 - 147.30 and looks like it wants to test the next MM level @ 147.66

GREEN PIPS to All
Pay attention to what SmoothTrader has to say He is a pro. IMHO
  • #1,163
  • Apr 8, 2009 6:19am Apr 8, 2009 6:19am
what is murray maths ?
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  • #1,164
  • Apr 8, 2009 6:20am Apr 8, 2009 6:20am
Quoting geico
what is murray maths ?


LOL

That's a good one. After 1162 posts about Murrey math
  • #1,165
  • Apr 8, 2009 6:22am Apr 8, 2009 6:22am
....hm...still long in GJ....need to learn more about the targets.
I do the same trades, but keep loosing...

i guess i'm too greedy these days
  • #1,166
  • Apr 8, 2009 6:22am Apr 8, 2009 6:22am
Quoting paul2k
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
cool mate...i would think twice before taking any shorts now...the bias seems to be on the upper side though it was bearish during the asian session....the indian stock market also ended up 2%.....so maybe a change in trend...
  • #1,167
  • Apr 8, 2009 6:23am Apr 8, 2009 6:23am
Quoting smjones
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.
well i dont draw trend lines though i know that they r very powerful if drawn correctly...but i tend to agree with ur view that the trend might be changing...
  • #1,168
  • Apr 8, 2009 6:24am Apr 8, 2009 6:24am
Quoting SmoothTrader
Broke above some fractal highs on the 5 min TF around 147.15 - 147.30 and looks like it wants to test the next MM level @ 147.66

GREEN PIPS to All

not sure whether u have posted in this thread b4....welcome mate...
  • #1,169
  • Apr 8, 2009 6:24am Apr 8, 2009 6:24am
Quoting smjones
Pay attention to what SmoothTrader has to say He is a pro. IMHO
i am all ears .....
  • #1,170
  • Apr 8, 2009 6:25am Apr 8, 2009 6:25am
Quoting Jakob
....hm...still long in GJ....need to learn more about the targets.
I do the same trades, but keep loosing...
well, its not a question of just being long...when and where is also very important...
  • #1,171
  • Apr 8, 2009 6:26am Apr 8, 2009 6:26am
Quoting ns_karthik
cool mate...i would think twice before taking any shorts now...the bias seems to be on the upper side though it was bearish during the asian session....the indian stock market also ended up 2%.....so maybe a change in trend...
UJ is back above the 0/8 MM line, which also happens to be that nice round number 100. Interesting to see if it holds and if it does this will help to drive GJ higher too.
  • #1,172
  • Apr 8, 2009 6:27am Apr 8, 2009 6:27am
Quoting ns_karthik
cool mate...i would think twice before taking any shorts now...the bias seems to be on the upper side though it was bearish during the asian session....the indian stock market also ended up 2%.....so maybe a change in trend...

Yes, if you look at the index futures, this is the first day in many wher the sell off is not even reaching 1 % I can not decalre a negative bias unless the futures are more negative than 1% and they must not be mixed. So something is in the wind LOL
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  • #1,173
  • Apr 8, 2009 6:28am Apr 8, 2009 6:28am
Yeah, right...it's possibly not only greed today, but a combination of greed and bad timing....
  • #1,174
  • Apr 8, 2009 6:36am Apr 8, 2009 6:36am
Quoting ns_karthik
cool mate...i would think twice before taking any shorts now...the bias seems to be on the upper side though it was bearish during the asian session....the indian stock market also ended up 2%.....so maybe a change in trend...
Thanks buddy. Didn't like PA at the level so I just pass on this one. Nothing to worry about. Many other trades will come along. Feeling bullish too.
  • #1,175
  • Apr 8, 2009 6:36am Apr 8, 2009 6:36am
Quoting SmoothTrader
UJ is back above the 0/8 MM line, which also happens to be that nice round number 100. Interesting to see if it holds and if it does this will help to drive GJ higher too.
yep...if 100 holds, we should be going up quite soon...
  • #1,176
  • Apr 8, 2009 6:37am Apr 8, 2009 6:37am
Quoting smjones
Yes, if you look at the index futures, this is the first day in many wher the sell off is not even reaching 1 % I can not decalre a negative bias unless the futures are more negative than 1% and they must not be mixed. So something is in the wind LOL
interesting...never seen these charts though i watch the dow futures sometimes..
  • #1,177
  • Apr 8, 2009 6:55am Apr 8, 2009 6:55am
Long at 1.2340 ... moved SL to B/E... waiting for Housing Data release !
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #1,178
  • Apr 8, 2009 7:27am Apr 8, 2009 7:27am
Quoting ns_karthik
yep...if 100 holds, we should be going up quite soon...
Smoothtrader, SMJones,

We were right after all !!
  • #1,179
  • Apr 8, 2009 7:58am Apr 8, 2009 7:58am
Quoting sivaji
Long at 1.2340 ... moved SL to B/E... waiting for Housing Data release !
closed with +35pips before news....
holding UsdChf short from 1.1473
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #1,180
  • Apr 8, 2009 8:01am Apr 8, 2009 8:01am
Quoting sivaji
closed with +35pips before news....
holding UsdChf short from 1.1473
cool mate...JPY crosses have broken thru resistances...we might be looking at a change of trend....
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