Trading using Murray Maths and Price Action

Quoting toafdawg

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so karthik, was the breach of 148.48 something that you were looking to trade?

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Quoting Grath

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Hi Karthik,

I'm watching GJ on M15 and M5.

If I have the H1 MM lines on the chart, it's not obvious why the price just retreated from 148.64

If I set MMPeriod to zero, the MM line at 5/8 shows me exactly why.

I believe you trade M15 and M5 with the H1 MM lines on those charts..... or did I mis-understand?

Thanks.

G

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Quoting ns_karthik

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Grath,
thats right, i trade ionly the 1H MM lines using the 5M and 15M charts...of course, if u go into smaller TFs you will get many more resistance lines...in fact, if u go into 5M charts, u will get a MM line every 10-15 pips....these resistance lines in smaller TFs are very weak as compared to the ones in higher TFs...if u are looking for for 2-3 pips per trade, then maybe u could look at MM lines in 5M charts...if u r looking for 30-40 pips minimum per trade, as i do, its better u trade 1H charts...

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Quoting toafdawg

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Karthik, so you expect a stall here, or at the stronger 6/8 resistance?

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Quoting toafdawg

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gj broke 148.48. The break was really quick. Karthik, do you wait for 2 or 3 5 min bars to close above/below resistance?

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Quoting Grath

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Brilliant! - both the strategy and the explanation.

I came out of my long when the price retreated from the M5 5/8. Just look at it now. It's been up to say hello to the 6/8 (which is the H1 5/8 just as you say).

I should have just listened to you in the first place.

G

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Quoting ns_karthik

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i would be careful abt shorts now....it is franfurt time and they usually do the opposite of what the trend is...so i would rather wait for some direction before i go for shorts...

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Quoting Horn

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Karthik,
GJ- Would you consider the candle as having broken the 148.05 support?

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