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Trading using Murray Maths and Price Action

  • #1,701
  • Apr 20, 2009 3:13am Apr 20, 2009 3:13am
Quoting Islander
Here's a nice start to my week - MM is set to 15 and I've also put on the mid points in light grey. The 4754 line was also the 50% retrace of the earlier fall, so a clear sell signal. If you missed it, then there were 3 more sell opportunities off the short time frames.

My current target is the next level off the 60 min MM at 4648....

FYI, I also took a small long off the 4679 level mid way through the Frankfurt Hour - this is a typical Frankies Hour move http://www.forexfactory.com/images/icons/icon12.gif
I see You used 15 MM in 5M TF...if you used higher TF to confirm the move, which period of MM you would use...
Thanks
  • #1,702
  • Apr 20, 2009 4:08am Apr 20, 2009 4:08am
Quoting ns_karthik
unless GJ gets above previous low of 145.7, we are going down to 143.5 atleast....
Great call for GJ
  • #1,703
  • Apr 20, 2009 4:31am Apr 20, 2009 4:31am
Quoting bingchi6
Great call for GJ
thanks mate.....GJ hit strong support at 143.75...shorts can exit for now....wait and watch...
  • #1,704
  • Apr 20, 2009 5:36am Apr 20, 2009 5:36am
Quoting ns_karthik
thanks mate.....GJ hit strong support at 143.75...shorts can exit for now....wait and watch...
Looks like pullback is done and can re-short here again for 50 pips base on VSA. What do u think?
  • #1,705
  • Apr 20, 2009 5:47am Apr 20, 2009 5:47am
Quoting bingchi6
Looks like pullback is done and can re-short here again for 50 pips base on VSA. What do u think?
yes looks like it.....143.8 has become support turned resistance now...but careful...we have already fallen a lot and hence some retracement might be due...take small shorts...
  • #1,706
  • Apr 20, 2009 6:29am Apr 20, 2009 6:29am
Quoting ns_karthik
yes looks like it.....143.8 has become support turned resistance now...but careful...we have already fallen a lot and hence some retracement might be due...take small shorts...
Yes u right must be carefull here and price has came down almost 300pips. I am normally aim for 150-200 pips when desided to take g/j trade, but look at better volume and price matches on white candle with low vol. back and forth i quickly take a short. It's been a while now and still in between 10-25 pips+
Attached Image (click to enlarge)
Click to Enlarge Name: quickshortgj50pips.jpg Size: 219 KB
  • #1,707
  • Apr 20, 2009 7:23am Apr 20, 2009 7:23am
Quoting bingchi6
Yes u right must be carefull here and price has came down almost 300pips. I am normally aim for 150-200 pips when desided to take g/j trade, but look at better volume and price matches on white candle with low vol. back and forth i quickly take a short. It's been a while now and still in between 10-25 pips+
got me 50 pips
  • #1,708
  • Apr 20, 2009 7:32am Apr 20, 2009 7:32am
Quoting bingchi6
got me 50 pips

cool...i hope everyone is making loads of pips on their shorts....price bounced from support and now retracing a bit...might go till 143.25 - 40 before going down again....watch the PA carefully from this point on...
  • #1,709
  • Apr 20, 2009 7:41am Apr 20, 2009 7:41am
Quoting Mini J
I see You used 15 MM in 5M TF...if you used higher TF to confirm the move, which period of MM you would use...
Thanks
I use the 60MM on all time frames and often drop to the 15MM on the 5min just to bring in the additional levels. Presonally, I'm also looking for a confluence with other levels - daily pivots, sweet spots and fibo retracements.
Trading Levels with WRBs
  • #1,710
  • Apr 20, 2009 9:55am Apr 20, 2009 9:55am
break of 142.8 and we could go down to 140.6...
  • #1,711
  • Apr 20, 2009 10:13am Apr 20, 2009 10:13am
Quoting ns_karthik
break of 142.8 and we could go down to 140.6...
yes seeing it as the most probable short bounce ,the daily & weekly charts worked out before the start of the week.further to go 131.46 to 118.18.
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gjd.gif Size: 13 KB
Click to Enlarge Name: gjwk.gif Size: 13 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,712
  • Apr 20, 2009 10:44am Apr 20, 2009 10:44am
GJ analysis posted in blog...
  • #1,713
  • Apr 20, 2009 4:07pm Apr 20, 2009 4:07pm
Here is a trade simulator, its great for practis on slow days and weekends.
Go try it out it is nice to see how the markets flow with MML and PA.
(congrats with the Chennai Super kings on a great victory)
Attached File(s)
File Type: zip Trade Simulator.zip   491 KB | 712 downloads
By God's Grace!
  • #1,714
  • Apr 20, 2009 9:18pm Apr 20, 2009 9:18pm
karthik are you looking to go short on a 142.19 break?
  • #1,715
  • Apr 20, 2009 9:28pm Apr 20, 2009 9:28pm
Quoting toafdawg
karthik are you looking to go short on a 142.19 break?
yes thats right...i am looking to go short for target at 140.6....pls have a look at my blog for analysis...
  • #1,716
  • Apr 20, 2009 10:33pm Apr 20, 2009 10:33pm
Quoting ns_karthik
yes thats right...i am looking to go short for target at 140.6....pls have a look at my blog for analysis...
From your blog Intraday GJ, I didn't find any 142.8 line (SR)..Can you explain further?
Thanks
  • #1,717
  • Apr 20, 2009 11:18pm Apr 20, 2009 11:18pm
Quoting Mini J
From your blog Intraday GJ, I didn't find any 142.8 line (SR)..Can you explain further?
Thanks
well its not that u would find a MM level at every SR...but from yesterdays movements, u could see that during the downmove, price was hovering around 142.8 for quite sometime before going to 141.5....today also, u could see that the retracement went up to 143 before coming down, all of which shows that 142.8 was a place of good SR...
  • #1,718
  • Apr 21, 2009 12:31am Apr 21, 2009 12:31am
Quoting ns_karthik
well its not that u would find a MM level at every SR...but from yesterdays movements, u could see that during the downmove, price was hovering around 142.8 for quite sometime before going to 141.5....today also, u could see that the retracement went up to 143 before coming down, all of which shows that 142.8 was a place of good SR...
Did you mean, a horizontal SR from hourly chart? A swing low or swing high...
  • #1,719
  • Apr 21, 2009 12:53am Apr 21, 2009 12:53am
Quoting Mini J
Did you mean, a horizontal SR from hourly chart? A swing low or swing high...
yes a horizontal SR from hourly chart...
  • #1,720
  • Apr 21, 2009 2:00am Apr 21, 2009 2:00am
Karthik, are you now waiting for a retrace to 142.19?
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