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Trading using Murray Maths and Price Action

  • #1,201
  • Apr 8, 2009 11:18am Apr 8, 2009 11:18am
Quoting swede5150
Good afternoon to you all,

Firstly great thread and I thank Karthik for starting it. I would also like to thank the many great posters in here.
I am a part time trader of 12 months and after doing all the newbie things, building an account, blowing my profits to grow it again to blow the profits once more, I am now back to my original investment. I did the usual, blew some money on an automated system (I know, stupid mistake), it worked then it didn;t and so it goes on. I then find this thread and it has been a god send to me in helping to clear...

thanks wayne for ur wishes....now to the answers:

1. i use only MM levels...sometimes i draw fibs as well....i am currently working on something interesting using fibs....hope to conclude that study in a week or so...

2. trading 1H SR using 5M charts would be best....cos 5M shows u what exact PA is happening around these SR levels which will help u to gauge price movements and also gauge the future movements as well...

3. there is no precise price that acts as SR...so it is usually a small range around these SR levels....

hope i answered all ur questions...
  • #1,202
  • Apr 8, 2009 11:23am Apr 8, 2009 11:23am
Quoting ns_karthik
thanks wayne for ur wishes....now to the answers:

1. i use only MM levels...sometimes i draw fibs as well....i am currently working on something interesting using fibs....hope to conclude that study in a week or so...

2. trading 1H SR using 5M charts would be best....cos 5M shows u what exact PA is happening around these SR levels which will help u to gauge price movements and also gauge the future movements as well...

3. there is no precise price that acts as SR...so it is usually a small range around these SR levels....

hope i answered...

Indeed it does..
If your diligent study and expertise flows into your work on Fibs like it has with MM then we are all in for some good times...

Thanks again
  • #1,203
  • Apr 8, 2009 11:25am Apr 8, 2009 11:25am
Quoting ns_karthik
the even number MM levels are stronger than the odd numbered ones....esp. 4/8 , 8/8 and 0/8 are very strong levels of SR...
oh, thanks..

so the penetrating of even S/R without a retest is even more weird...?
  • #1,204
  • Apr 8, 2009 11:26am Apr 8, 2009 11:26am
Quoting swede5150
Indeed it does..
If your diligent study and expertise flows into your work on Fibs like it has with MM then we are all in for some good times...

Thanks again

dont be so sure that i would reveal everything that i find....:-)))....
  • #1,205
  • Apr 8, 2009 12:00pm Apr 8, 2009 12:00pm
EU and GU hitting the resistance and going down...
  • #1,206
  • Apr 8, 2009 12:07pm Apr 8, 2009 12:07pm
Quoting ns_karthik
EU and GU hitting the resistance and going down...
GAP! even GAP filled

but not a H1 candle, just a glitch... I prefer an H1 candle to visit the GAP...
  • #1,207
  • Apr 8, 2009 12:09pm Apr 8, 2009 12:09pm
U/J already at the -1/8ths on the 1 hr. Could be a buy soon. I might wait & see how it reacts down here.
  • #1,208
  • Apr 8, 2009 12:16pm Apr 8, 2009 12:16pm
Sneha pics for the day...
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  • #1,209
  • Apr 8, 2009 12:20pm Apr 8, 2009 12:20pm
!!!!!!!!!!
  • #1,210
  • Apr 8, 2009 12:22pm Apr 8, 2009 12:22pm
Quoting billye
!!!!!!!!!!
???
  • #1,211
  • Apr 8, 2009 12:26pm Apr 8, 2009 12:26pm
Have watching this thread for a while. I do like the use of the MML's. Also if you put the Fibs on the chart it is amazing how the Fibs and the MML tend to align with each other. Will be following this method as I believe it goes along with my style which is S/R, TL, etc.

Thanks for starting this thread Karthik.
  • #1,212
  • Apr 8, 2009 12:29pm Apr 8, 2009 12:29pm
Quoting koorb
Have watching this thread for a while. I do like the use of the MML's. Also if you put the Fibs on the chart it is amazing how the Fibs and the MML tend to align with each other. Will be following this method as I believe it goes along with my style which is S/R, TL, etc.

Thanks for starting this thread Karthik.
no problem mate....
  • #1,213
  • Apr 8, 2009 12:42pm Apr 8, 2009 12:42pm
very slow and careful moves right now...no specific direction...
  • #1,214
  • Apr 8, 2009 12:48pm Apr 8, 2009 12:48pm
I know some of you don't watch a lot of pairs, but one you may want to keep an eye on is aud/chf. It's been trying for months to break up and hold the .8000- .8050 area. It has done that and seems to be building some monemtum and support. If it's able to break and hold the .8180-.8200 area, it has room to move. Daily chart

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  • #1,215
  • Apr 8, 2009 12:55pm Apr 8, 2009 12:55pm
Quoting bigandrich
I know some of you don't watch a lot of pairs, but one you may want to keep an eye on is aud/chf. It's been trying for months to break up and hold the .8000- .8050 area. It has done that and seems to be building some monemtum and support. If it's able to break and hold the .8180-.8200 area, it has room to move. Daily chart

Attachment
it has an inside bar on the daily....i would wait for the break one way or the other to take a trade....
  • #1,216
  • Apr 8, 2009 1:08pm Apr 8, 2009 1:08pm
Quoting ns_karthik
it has an inside bar on the daily....i would wait for the break one way or the other to take a trade....
  • #1,217
  • Apr 8, 2009 1:33pm Apr 8, 2009 1:33pm
Quoting ns_karthik
EU and GU hitting the resistance and going down...
Yes E/U went down exactly on the numbers. That was a nice trade.
  • #1,218
  • Apr 8, 2009 1:37pm Apr 8, 2009 1:37pm
Got out GU with +55 pips.
-happyTrading-myFx.
  • #1,219
  • Apr 8, 2009 2:21pm Apr 8, 2009 2:21pm
GJ just failed at the 3/8 at 146.09. Went long.
  • #1,220
  • Apr 8, 2009 6:32pm Apr 8, 2009 6:32pm
Quoting ns_karthik
thanks wayne for ur wishes....now to the answers:

1. i use only MM levels...sometimes i draw fibs as well....i am currently working on something interesting using fibs....hope to conclude that study in a week or so...

2. trading 1H SR using 5M charts would be best....cos 5M shows u what exact PA is happening around these SR levels which will help u to gauge price movements and also gauge the future movements as well...

3. there is no precise price that acts as SR...so it is usually a small range around these SR levels....

hope i answered...
Hi Karthik,

Gotta give my 0.2 pips on the fibs comment

MM plus fibs are a perfect combo. I'm sure you have watched how MM 2/8 level aligned almost perfectly with the 38.2 fib on EUR/USD H1 for a double confirmation on the reversal earlier on. For those who of us who took the trade, it was a clear 70 or 80 pip ride.

Cheers

PD. As I type this, MM 1/8 is aligned with the 23.6 fib and looking like bouncing off...
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