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Trading using Murray Maths and Price Action

  • #1,761
  • Apr 22, 2009 6:18pm Apr 22, 2009 6:18pm
Im still trying to learn how to trade like Karthik, so is anyone going long on the GJ right now at the 141.41 at the 5/8ths mm?
  • #1,762
  • Apr 22, 2009 8:33pm Apr 22, 2009 8:33pm
Quoting toafdawg
Im still trying to learn how to trade like Karthik, so is anyone going long on the GJ right now at the 141.41 at the 5/8ths mm?

I did with a quick scalper of the day (normally not). Long at exactly 5/8 at 141.406 and take profit at the end 15 min candle for 18 pips. I took this one because i c price below the fans then re-entry at .500 fib fans
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  • #1,763
  • Apr 22, 2009 9:15pm Apr 22, 2009 9:15pm
Quoting bingchi6
I did with a quick scalper of the day (normally not). Long at exactly 5/8 at 141.406 and take profit at the end 15 min candle for 18 pips. I took this one because i c price below the fans then re-entry at .500 fib fans
is this a system? where can i get your indicators and template? thanks!
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,764
  • Apr 22, 2009 9:17pm Apr 22, 2009 9:17pm
i am new to this concept why would i use it rather than fib levels/ sr levels?
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,765
  • Apr 22, 2009 9:30pm Apr 22, 2009 9:30pm
Quoting eaglestar
i am new to this concept why would i use it rather than fib levels/ sr levels?

eagle, i suggest that u go thru this thread....fibs can be subjective in the sense , it depends on where u draw ur lines from...and they keep changing for every wave which means that u need to keep plotting it for every wave....as for this, the indicator draws it for u....!!
  • #1,766
  • Apr 22, 2009 9:55pm Apr 22, 2009 9:55pm
Quoting eaglestar
is this a system? where can i get your indicators and template? thanks!
eaglestar,

Actually most of the indicators are in this thread. These are Final draft auto trendline, final draft 3 semafor alert and murreymath1.0 from Xard777. I just changed colors to look clear on my background.
Regards to the system this not much to say at all. Entry is base on price enter the fans and re-test/break thru the fib fans. I recomend entry between .500-.786 fib fans to have more momentum of PA.
In this case i combined PA with MML [5/8], as u c price has been around this area for sometime. I still have lots to learn from Karthik trading using MM and PA here.

Regards,

bc
  • #1,767
  • Apr 22, 2009 10:29pm Apr 22, 2009 10:29pm
Hello again Karthik,

I again wanted to thank you for your efforts here. Going through your thread I started working this MM method. From what I read you wait for a close over a MM level then go long or wait for a MM level to be tested then close under it and go short, Of course this would be the opposite when price is moving down.

My concern is that it is not that easy and that is why some of the people following along are lost. Maybe you don't realize it, but you also have a good understanding of the market structure (which I believe you refer to as PA) and this is very important to know when using the MM levels.

Paying close attention to see what I was missing, I finally had the "AH-HA" moment and put it all together. So now I have decided to put a lot of focus on market structure. things like ranging markets, retracing moves, and break outs which is basically the only things that price really does.

Once I am comfortable with the market structure, applying it to MM levels will make that 50 pips per day goal possible.
  • #1,768
  • Apr 22, 2009 10:46pm Apr 22, 2009 10:46pm
Grath,

Is there any way to have multiple versions of your indi on one chart? I would like that have the daily, 4 hr, and 1 hr bars all visible on a 5 min. chart, but it seems like only one is visible at a time. Thanks for your awesome indicator!

Cory
  • #1,769
  • Apr 22, 2009 10:46pm Apr 22, 2009 10:46pm
Hey Karthik,

Just out of curiosity... GU just shot up 120 pips in about 40 minutes, but there was NO news release around that time. What causes such unexpected, rapid movements? Is it just the bank running stops? Good thing I had a 40 pip stop loss....

Looking forward to your expert advice
  • #1,770
  • Apr 22, 2009 10:46pm Apr 22, 2009 10:46pm
In my model pair of EU Price posing to enter into the trading ranging phase in all higher tfs ,is successfull then 4/8MM should be decision making line & if unsuccessful breaking 3/8MM ( still can reach as high as 1.3062 -1.3091) then bear momentum will restablish & 2/8MM should be due for further retest or so.

What others say ?
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,771
  • Apr 22, 2009 11:21pm Apr 22, 2009 11:21pm
Quoting Cbh123
Grath,

Is there any way to have multiple versions of your indi on one chart? I would like that have the daily, 4 hr, and 1 hr bars all visible on a 5 min. chart, but it seems like only one is visible at a time. Thanks for your awesome indicator!

Cory
It need not to any , already many lines in between & made it hazy.

Any adjacent 2 lines in H1 represent the whole set of 0-8/8mm in M5. so middle dotted line in h1 is 4/8mm, upper thin line is 6/8mm & lower thin line is 2/8mm in M5 . That is exactly where they need to attention.similarly you can smaller mm into much smaller mm too if need.
so simply view H1 & higher tf to see all lower ones

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,772
  • Apr 22, 2009 11:35pm Apr 22, 2009 11:35pm
I have posted a classic example of PA and Volume on my blog and in the news section of FF. Do vote for it in the news section if you like it...
  • #1,773
  • Apr 22, 2009 11:51pm Apr 22, 2009 11:51pm
Quoting woodlybog
Hey Karthik,

Just out of curiosity... GU just shot up 120 pips in about 40 minutes, but there was NO news release around that time. What causes such unexpected, rapid movements? Is it just the bank running stops? Good thing I had a 40 pip stop loss....

Looking forward to your expert advice
that is a very good question indeed....in technical terms, this is called consolidation and breakout while in volume terms, it is called accumulation and the result of the accumulation which is an upmove.....in technical terms, a ranging period or a consolidation period is followed by a breakout. the size of the breakout is always directly proportional to the time of consolidation and inversely proportional to the price range during consolidation....in other words, the smaller the price range and the more time the price spends within the price range, the bigger the breakout....how do u trade this ? when the price is ranging, just draw lines between the high and low of the range and wait for the breakout....when it happens, take a trade in the direction of breakout....

why does this breakout happen when there is no news or anything special?? for this, u need to understand volume and vsa....during consolidation, the big boys keep buying the pair....as the keep buying , the price goes to top of range, then they push it down and small traders get scared and sell and the big boys buy it...they keep buying and again price goes to top of range and they again push it down to scare the small guys into selling it to them...they keep doing this till there are no more sellers and once they r happy that it is true, they start pushing the price up and start buying everything in sight...seeing this breakout, others join in...big and small and the price starts to accelerate in the direction of breakout....this is what happens....
  • #1,774
  • Edited 1:05am Apr 23, 2009 12:42am | Edited 1:05am
3/8MM trying break down successfully , already shorted from top & will add more if break due 2/8MM now .chart in M15, H4 candle up but at times dozi or even down transient,3rd H1 candle down .
fontu

Now testing again 2/8MM & 1.2993 can be reached even not successull.

The last hr of up H4 candle is also up & M15 , may test again 3/8MM
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,775
  • Apr 23, 2009 1:09am Apr 23, 2009 1:09am
Quoting ns_karthik
that is a very good question indeed....in technical terms, this is called consolidation and breakout while in volume terms, it is called accumulation and the result of the accumulation which is an upmove.....in technical terms, a ranging period or a consolidation period is followed by a breakout. the size of the breakout is always directly proportional to the time of consolidation and inversely proportional to the price range during consolidation....in other words, the smaller the price range and the more time the price spends within the price range,...
Very good explanation , worth COPY PASTE .Thanks ,
fonty
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,776
  • Apr 23, 2009 3:48am Apr 23, 2009 3:48am
hello karthik!
I had look at your blog, great stuff! your writing style is much easier to understand. maybe because we are both asians haha.

i started to read some stuff and the thread here on ff about vsa, really interesting.

i had some questions earlier about the movement of PA around MM levels and you said I could post a chart and ask you, so I just take the EURUSD M5 chart from today!

could you maybe explain when you consider the 2/8 broken and when you would enter?

the same with the 3/8 when it breaks the second time.
i think the 1st time it drops down because of the climax bar with high spread if i remember right.

and also at the 4/8. when would you see that it is a false break?
could you take the climax high spread bar from some bars before and already predict at that time, that price will maybe drop below that level?

I'm sure to explain all that, one has to consider supports and resistances on higher time frames. am i right?

thank you for your help!
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  • #1,777
  • Apr 23, 2009 3:58am Apr 23, 2009 3:58am
Quoting Aliassmith
Hello again Karthik,

I again wanted to thank you for your efforts here. Going through your thread I started working this MM method. From what I read you wait for a close over a MM level then go long or wait for a MM level to be tested then close under it and go short, Of course this would be the opposite when price is moving down.

My concern is that it is not that easy and that is why some of the people following along are lost. Maybe you don't realize it, but you also have a good understanding of the market structure (which I believe you refer...

thats right Alias...this method is not easy to learn...u need to spend lots of time in analysis and u need to develop a feel for the pair and the market...so why spend so much time on this when u can just throw in a couple of indicators and learn the system in 5 mins ?? well, this is the only method that consistently works....nothing else, no other system, works as consistently as this one...
  • #1,778
  • Apr 23, 2009 4:15am Apr 23, 2009 4:15am
Quoting kimchikim
hello karthik!
I had look at your blog, great stuff! your writing style is much easier to understand. maybe because we are both asians haha.

i started to read some stuff and the thread here on ff about vsa, really interesting.

i had some questions earlier about the movement of PA around MM levels and you said I could post a chart and ask you, so I just take the EURUSD M5 chart from today!

could you maybe explain when you consider the 2/8 broken and when you would enter?

the same with the 3/8 when it breaks the second time.
i think the 1st...

well, thats nice....lemme take this one by one.....lets go to the first circle...in that, you see that price breaks thru resistance...but it does not run away...so u can wait for the retracement and when the retracement comes u see how it goes....the retracement carries price just below support and then stops and stalls....u also see a small pin bar...so u know that some support is building and maybe u could risk a small long...as expected, after stalling, it goes up again, breaks the resistance again and then u see a long bar and again a retracement back to support...this time, the retracement does not break the support and so u can take this as confirmation that the resistance has been broken...if the retracement had taken the price below support, then the break was false...

now on to the second circle...in this, there is a long bar which breaks the resistance and then price retraces back to the resistance turned support but does not go below the support...again u see a bullish pin bar as well..a retracement after a break above resistance with retracement not going below resistance turned support and a pin bar...all classic signs to tell u that the break is genuine and then u go long...

lets move on to the third circle...at the beginning of the circle is the first attempt at breaking the resistance which fails...u can see high volume bars in the attempt to break and then the volume falls off after the failure to break...then u see a bearish pin bar as well..someone is trying to push the price down....then u see another attempt to break the resistance with normal volume...this time it breaks and maybe u go long...it would be better if u waited for the retracement....as expected, the retracement comes along which goes below resistance turned support but pulls back above the resistance turned support...so u enter long thinking that it is a good break...but then as u watch PA, u see that the high of the previous break is not broken and price starts falling down again....this is a sign that the up move is weak and is an indication for u to exit longs at BE or with minimal loss.


lemme know if anything is not clear.....i would like to use ur chart in my blog...hope it is fine....
  • #1,779
  • Apr 23, 2009 4:26am Apr 23, 2009 4:26am
great advise from everyone hear. I think is great to see such commrodity between everyone here. I am starting to get a really good feel of the MM and market structure with one pair. It will take me a while to take on any other pairs.
PA keeps coming up in conversation and I had looked through the thread to find no such information on it.I understand that it is Price Action. What exactly does that mean and how would it be determined? Is their such an indicator.
KArthik,
Been through your personal Blog. Your information like I have said before is PRICELESS! I am the one with Mercedes Benz symbol for my picture.

Fontu,
Appreciate your determination to help others. Finally had the signal to go short at 3061....8/8th resi on M15....4/8th resi on 1H
  • #1,780
  • Apr 23, 2009 4:50am Apr 23, 2009 4:50am
thanks for the great explanation!
i guess it just needs time watching the price, since i just have started to demo trade around 1 week ago.

i don't know if anyone else feels like this, but I have the feeling that often after some PA happened, there is always an explanation "why" it happened, but on the other hand you could also find some other valid explanation for PA, if it went the other way. I think I have to practice to outweight both options and take the stronger one.

oh yes, and sure you can use the chart! i didn't think it's that a great chart, but^^ drawing the circles with the touchpad.

could you maybe tell me at which candle you would enter both the breakouts?
that seems to be hard too, since if I want to get more than 10 pips, I can't enter the long too late, because then the next MM level is approaching, but often price only goes to the middle between two MM levels and then retraces again, so thats still hard to see, but I will practice and practice.
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