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Trading using Murray Maths and Price Action

  • #1,421
  • Apr 13, 2009 4:22am Apr 13, 2009 4:22am
Quoting smjones
I see no direction in futures at this time. No direction for currencies from indexes at all at this time.
cannot expect much direction today i guess....
  • #1,422
  • Apr 13, 2009 4:31am Apr 13, 2009 4:31am
Quoting ns_karthik
cannot expect much direction today i guess....
It may change as it is not a bank holiday in USA and is in a lot of Europe.

I see a slightly negative bias very short term today and then I think Malcomb's rise will go up to at least to the down trend line by about late tomorrow or Wednesday. But, there should be some good short pop trades today for the day trader.
  • #1,423
  • Apr 13, 2009 4:41am Apr 13, 2009 4:41am
Hi Karthik,
Went through your thread. Very enlightening. I totally agree that its all in the price action and S&R.
Keep up the good work.
Did my first live trade shorting Euro based on MML for 15 pips.
Thanks for sharing and guidance.
  • #1,424
  • Apr 13, 2009 4:41am Apr 13, 2009 4:41am
Quoting smjones
It may change as it is not a bank holiday in USA and is in a lot of Europe.

I see a slightly negative bias very short term today and then I think Malcomb's rise will go up to at least to the down trend line by about late tomorrow or Wednesday. But, there should be some good short pop trades today for the day trader.
means a little more downside from now? for index or E/U?
  • #1,425
  • Apr 13, 2009 4:44am Apr 13, 2009 4:44am
+10 on EU (short
+45 on GU (short
still long on USCHF

i agree that the market has to settle down. Time for let US markets open... back in an hour or so...
Durn the torpedos, full speed ahead
  • #1,426
  • Apr 13, 2009 4:47am Apr 13, 2009 4:47am
Quoting billye
means a little more downside from now? for index or E/U?
I think the futures are ranging with a slight down bias this morning. I would think a general drifting right now and until about 12:00 GMT in the EURUSD and then some small negative bias at that time until about 15:00 GMT and then I don't know as volume will be light and that means heavy manipulation by small entities like Market Makers and such. Probably Range between 1.3203 and 1.3152 as I see it right now. Could change if something external changes.
  • #1,427
  • Apr 13, 2009 4:53am Apr 13, 2009 4:53am
Quoting smjones
It may change as it is not a bank holiday in USA and is in a lot of Europe.

I see a slightly negative bias very short term today and then I think Malcomb's rise will go up to at least to the down trend line by about late tomorrow or Wednesday. But, there should be some good short pop trades today for the day trader.
Well eur seems to pullback to the opening of the day and maybe lower. But not sure i want to take a short here. Hope everyone have good trades and good night. Very late for me now cos i am in California and now is 2:52 am morning.

Good night
  • #1,428
  • Apr 13, 2009 4:55am Apr 13, 2009 4:55am
Quoting smjones
I think the futures are ranging with a slight down bias this morning. I would think a general drifting right now and until about 12:00 GMT in the EURUSD and then some small negative bias at that time until about 15:00 GMT and then I don't know as volume will be light and that means heavy manipulation by small entities like Market Makers and such. Probably Range between 1.3203 and 1.3152 as I see it right now. Could change if something external changes.

es has 10 point gap to fill in morning .. mostly sideways as there really are no globex traders on the scene very low volume on futures in globex
Blogging daily now at www.volume.zone
  • #1,429
  • Apr 13, 2009 5:05am Apr 13, 2009 5:05am
It seems can go again back to the top of the channel in M5.15 to upto 1.3228 & come down again to upto 1.3089 as a break as though volumes continue building support but no such news or fundamentals to drive it up . Just my idea.No trading off for few hrs .Have a good trading everybody.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,430
  • Apr 13, 2009 5:07am Apr 13, 2009 5:07am
I used a bit of my lazy time over the holiday weekend to pull together all of the user-variable controls in the various Murrey Maths MT4 indicators that I have found in the forums. This indicator that I am posting here has user-variable controls for:

  1. P (Leave it at 64 unless you know what you are doing.***)
  2. MMPeriod (The number in minutes. Set it to zero to have the MM lines generated according to the timeframe of the chart you have active. Set it to 1440 for D1, 240 for H4, 60 for H1, etc. The MM lines will be the same on all the active chart's timeframes.)
  3. StepBack (The number of bars back that the MM calculations start from. For example, set it to 24 to see yesterday's lines on an H1 chart. When you set this to a non-zero number, an arrowhead appears under the bar where the MM calculations end.)
  4. text_shift (This allows you to change where the MM line annotations appear on the chart.)
  5. verbose (If true, then the more verbose descriptions appear on the MM lines. If false, only the level numbers like [2/8] appear.)
  6. ShowMinorLines (Set to true if you want to see the minor lines.)

*** If you DO know, please PM me - I would like to know how to use the P variable too.

G

Attached Image
Attached File(s)
File Type: mq4 MML_All_Modes_v1.mq4.mq4   2 KB | 634 downloads
  • #1,431
  • Apr 13, 2009 5:10am Apr 13, 2009 5:10am
Quoting Grath
I used a bit of my lazy time over the holiday weekend to pull together all of the user-variable controls in the various Murrey Maths MT4 indicators that I have found in the forums. This indicator that I am posting here has user-variable controls for:[list][*]P (Leave it at 64 unless you know what you are doing.***)[*]MMPeriod (The number in minutes. Set it to zero to have the MM lines generated according to the timeframe of the chart you have active. Set it to 1440 for D1, 240 for H4, 60 for H1, etc. The MM lines will be the same on all the active...
Thanks Grath...that was very informative....
  • #1,432
  • Apr 13, 2009 5:20am Apr 13, 2009 5:20am
Quoting billye
what do you mean es?

what gap referring to? dow future has a gap and I've been shouting for that since yesterday... market was absent for 1 day Friday anyway.

[edit] oh good point, dow gap was during US official holiday, so institutes are not trading now.
oh malcomb I found one thing very interesting, dow future volume(pink) is in same profile every day, day after day, my volume is not very accurate but I think it already says what I mean.
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  • #1,433
  • Apr 13, 2009 5:32am Apr 13, 2009 5:32am
Quoting shaan
Hi Karthik,
Went through your thread. Very enlightening. I totally agree that its all in the price action and S&R.
Keep up the good work.
Did my first live trade shorting Euro based on MML for 15 pips.
Thanks for sharing and guidance.

thanks mate...keep up the good work...u will do well...
  • #1,434
  • Apr 13, 2009 5:33am Apr 13, 2009 5:33am
Quoting smjones
I think the futures are ranging with a slight down bias this morning. I would think a general drifting right now and until about 12:00 GMT in the EURUSD and then some small negative bias at that time until about 15:00 GMT and then I don't know as volume will be light and that means heavy manipulation by small entities like Market Makers and such. Probably Range between 1.3203 and 1.3152 as I see it right now. Could change if something external changes.
Hey jones, thats nice of you to pick prices based on time as well....so how was ur weekend ?
  • #1,435
  • Apr 13, 2009 5:40am Apr 13, 2009 5:40am
Quoting ns_karthik
Hey jones, thats nice of you to pick prices based on time as well....so how was ur weekend ?
It was a good weekend. I am not religious, so it was not that big a deal for me. Spent time with my grand son though and that was fun. And yours?
  • #1,436
  • Apr 13, 2009 5:51am Apr 13, 2009 5:51am
Quoting smjones
It was a good weekend. I am not religious, so it was not that big a deal for me. Spent time with my grand son though and that was fun. And yours?
yeah it was good...spent time with my 3 yr old son....who had his school annual day celebrations yesterday where he danced (his version of a dance)...was fun to watch...
  • #1,437
  • Apr 13, 2009 7:10am Apr 13, 2009 7:10am
Quoting bingchi6
Long Eurusd 2 lots at 1.3144 after market open settle. Move stop loss to 1.31085 and 1st tp at 1.32446. Let see what happens
right to the pip. very nice call
went short at 1.3242 for 5 pips. closed trade
  • #1,438
  • Apr 13, 2009 7:33am Apr 13, 2009 7:33am
Karth,
I have finally read through the whole thread. Very impressed with the Indicator. Have tried on 2 trades and been positive. Not to judge right now but will keep posting when trade is made (either neg or pos).
Questions:
How exactly are you making your trades? Are you trading with the short or long term trend? Are you using the 0/8, 1/8, 2/8 etc. lines as your SL n TP to the pip or + n - a couple of pips? With say a on 10k account. how much would you risk per trade. How much would each pip cost? Please advise when you have time. Will keep experimenting.
Great thread. Keep up the good work.
Off to work right now.
  • #1,439
  • Apr 13, 2009 7:59am Apr 13, 2009 7:59am
Quoting jphotdeals
right to the pip. very nice call
went short at 1.3242 for 5 pips. closed trade
It's unbelieve upmove by eurusd in last hour, total unexpected move today.
Looking at bearish BAT harmonic pattern here, EurUsd could finished target D here at (8/8) and reverse down. Let see what next.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdbearishbat.jpg Size: 221 KB
  • #1,440
  • Apr 13, 2009 8:09am Apr 13, 2009 8:09am
lots of stuff happened over last 1 hr or so...EU and AU against major resistance...so also EJ...GC on support...crucial times...
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