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Trading using Murray Maths and Price Action

  • #1,861
  • Edited 9:44pm Apr 28, 2009 9:44pm | Edited 9:44pm
gone short on eur from .3153, gonna ride this one to .3115
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  • #1,862
  • Apr 28, 2009 9:53pm Apr 28, 2009 9:53pm
Where is Sneha?!!!
  • #1,863
  • Apr 28, 2009 11:48pm Apr 28, 2009 11:48pm
Right demand , we want sneha back karthik.

Eu the last impulse wave seems near finish still wave1 not = to 5 , over at the area of 8/8MM & it reached beyound 61% fib retracement of the last down movement , fast move UP should be followed by fast move down .Lets see what comes next .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,864
  • Apr 28, 2009 11:58pm Apr 28, 2009 11:58pm
Quoting fontu
Right demand , we want sneha back karthik.

Eu the last impulse wave seems near finish still wave1 not = to 5 , over at the area of 8/8MM & it reached beyound 61% fib retracement of the last down movement , fast move UP should be followed by fast move down .Lets see what comes next .

fontu
Yes, he said every day some pictures...
The Market pays you to be disciplined
  • #1,865
  • Apr 29, 2009 12:04am Apr 29, 2009 12:04am
Quoting millionaire7
Where is Sneha?!!!
well i would love to post her pictures but the lack of activity in this thread has been a bit demotivating...
  • #1,866
  • Apr 29, 2009 12:21am Apr 29, 2009 12:21am
today should be an up day for the JPY crosses and also GC...
  • #1,867
  • Apr 29, 2009 12:21am Apr 29, 2009 12:21am
Quoting bingchi6
I see this is your first post and perhaps you should go thru all this thread info. and then begin to post your charts.

regards,

Well..no doubt this is my 1st post and you must have understood what made me post it....for your information...I was reading and reading and reading this thread few times.

..such a nice thread with wonderful information...

I wanted to see this thread as another "james16 or EURUSD thread"....or at least to see it gets some stars from FF.


if you are wondering why no post from my side it is because I am active in another forum.
  • #1,868
  • Apr 29, 2009 12:49am Apr 29, 2009 12:49am
Quoting zamzen
Well..no doubt this is my 1st post and you must have understood what made me post it....for your information...I was reading and reading and reading this thread few times.

..such a nice thread with wonderful information...

I wanted to see this thread as another "james16 or EURUSD thread"....or at least to see it gets some stars from FF.


if you are wondering why no post from my side it is because I am active in another forum.
Whatever active thread in FF u tell ,virtually nobody should like them except for some information learning purpose & with very intention in mind to go through 100s/ever ending of mostly unneccessary pages & one should not cope with the speed they grows .One can't follow even his own post & reply or impossible to collect relevent information from most of them.
only a few post about trades with more information from many of us that can help & quesstion answer about using MM should do .

fontu
Better we few people work together with love & affection & care here.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,869
  • Edited 3:06am Apr 29, 2009 1:32am | Edited 3:06am
Quoting ns_karthik
today should be an up day for the JPY crosses and also GC...
Thanks these few words enough for us where the price may go.
In eu it seems price will test the unfinished up move on 27th to about +1/6MM to +2/8MM but coming down should be place at whatever level from now .

fontu

Ready for next & last bull move in eu 1.3173, trade what u see & do not follow me .

20pips profit ignored ,I want it more . may price coming down again to the base or little down .Volume seems support this move.let it run rather scalping .
Just see EUR news come negative ,still can go up as news effect before down at least double top at 1.3214
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,870
  • Apr 29, 2009 3:31am Apr 29, 2009 3:31am
Quoting fontu
Right demand , we want sneha back karthik.

Eu the last impulse wave seems near finish still wave1 not = to 5 , over at the area of 8/8MM & it reached beyound 61% fib retracement of the last down movement , fast move UP should be followed by fast move down .Lets see what comes next .

fontu
Hi Fontu,
I have read the various posts as well as the articles in Karthik's blog. After spending some amount of time on the screen, I find I am still unable to pull the trigger most of the times. Is it cos we need to rely on more than just SR and PA.
For eg, when on an upward movement price reaches R, it can either
1.Hit R and bounce back.- problem here is how to determine the amount of bounce as sometimes it go right down to the S.
2. Price touches R and stays close to it. - Here I will be wondering again as sometimes it will go down and sometimes suddenly go up and break the R.
3.Strong candle break the R and price keep going up. Karthik has advised to wait. Frustration is sometimes the price keep shooting up to the next R. Therefore no chance to enter.
4.Strong candle break the R and stop halfway betw the SR. Expect it to retrace to R that was broken but it just suddenly shoot up again to the next R.
In one of Karthik's post he mentioned about looking for pin bars. Most of the time there are no pin bars. I noticed that in your posts there are reference to fib, wave etc. Is that what is needed to get an indication on the PA

I am sorry my post is a bit lengthy but hopely your detailed input will help me and I am sure a lot of the other newbies following this thread.
Thanks
2.
  • #1,871
  • Apr 29, 2009 3:31am Apr 29, 2009 3:31am
Quoting ns_karthik
today should be an up day for the JPY crosses and also GC...
Long gbpchf entry above 2/8 with stop loss at 1.6685 and tp at 4/8
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  • #1,872
  • Apr 29, 2009 5:05am Apr 29, 2009 5:05am
Quoting Horn
Hi Fontu,
I have read the various posts as well as the articles in Karthik's blog. After spending some amount of time on the screen, I find I am still unable to pull the trigger most of the times. Is it cos we need to rely on more than just SR and PA.
For eg, when on an upward movement price reaches R, it can either
1.Hit R and bounce back.- problem here is how to determine the amount of bounce as sometimes it go right down to the S.
2. Price touches R and stays close to it. - Here I will be wondering again as sometimes it will go down and sometimes...
Thanks Horn for asking .I do not have full knowledge yet as how to determin PA wih MM levels. It must take lots of time to be knowdgeable seeing & taking action PA naked eye & hence I am still using various other indicators to help.

tring to answer # wise:
1.one can't determine perfectly as the strength bouncing Hit R .but seeing QQE cross 50 I am deciding whether it continue movement up or bounce back to the next support .Volume also help> volume up but pa down should be accumulating with false sense that price will go down where it actually head up after .
2.Price touches R and stays close to it should be less sellers than buyer in action & so next chance it will retest R & break but more than 2 retest fail then like down again for the next support to gain more buyers.

3.Strong candle break the R and price keep going up: this will happen when pa move in an impuse wave , move fast to break R and continue .very difficult to take trade beforehand if not highly motivated from oher signs of flags,peanants,triangle etc .but one can take easily at the bottom of the 2nd impulse wave or 1st part of the 3rd.
4. same impuse wave at the middle of any & hence movement proceed without much retracement.

yes karthik watch pin bars in tf5 for possible direction in higher wave .I do consider each MM level as per the characteristics of it's own & try to follow but not successfull for big pips & scalping do well in the direction of the trend with sl in place .

hope this will help & Karthik will help if any part not clear .

fontu

The bull still running very well in eu price at +1/8MM & nearer to the utl but may go up double top at +2/8MM
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,873
  • Apr 29, 2009 6:38am Apr 29, 2009 6:38am
Quoting Horn
Hi Fontu,
I have read the various posts as well as the articles in Karthik's blog. After spending some amount of time on the screen, I find I am still unable to pull the trigger most of the times. Is it cos we need to rely on more than just SR and PA.
For eg, when on an upward movement price reaches R, it can either
1.Hit R and bounce back.- problem here is how to determine the amount of bounce as sometimes it go right down to the S.
2. Price touches R and stays close to it. - Here I will be wondering again as sometimes it will go down and sometimes...

Thanks for asking Horn....These are the problems faced by all PA traders and if you are able to master these, then you can really be a successful trader. Let me try and answer each of these.
1. When price hits R and bounces back, then u need to see what is the market momentum. If the market momentum is downwards, then you can be sure that the R will not be broken and so u can take a short and wait for it to hit the S below. Or if u r a scalper like me, just take a few pips and run.
2. If the price hits R and floats below it, i would rather not go long...i would wait for a breakout on either side and then take a trade...in the meantime, i would switch to a lower TF and see price action and volume to determine which way the breakout is likely to happen...unless u see a clear signal that the breakout would happen in a specific direction, i would rather wait for the breakout to happen to get into the trade...
3. well, if u did not get a proper chance to take the trade, the best thing to do is, leave it...there will always be another chance...this is the most important lesson that u need to learn in trading...
4. if price breaks R and stops midways between R and S, then u need to watch the price action carefully again....as said for 2 above, wait for a breakout or go to smaller TFs and look for pin bars, high volume bars etc and try to guess the direction and take the trade...
contrary to what u say, there are indeed lot of pin bars in all TFs...i could take a single day chart of any currency pair and show u pin bars in various TFs and i am sure that i can show you atleast 20 every day in every pair....but its just not a question of locating them....its how you make use of them...
this method takes lot of practice and time...so why do u have to spend so much time in this when there are other systems available using indicators which take less than half the time to learn?? its cos PA is the only thing that always works and always works in all the pairs...
  • #1,874
  • Apr 29, 2009 7:00am Apr 29, 2009 7:00am
Dear Karthik and Fontu,

Thank you very much for taking the time to do the lengthy explanation which has definitely cleared the confusion in my mind.
Karthik , you have made a very important point which I will constantly remind myself ie not to be concerned about missing a trade. If in doubt ,leave it.

I will now put in more screen time and hopefully can update you two gentlemen on my progress in due time.

Many thanks.

Cheers
  • #1,875
  • Apr 29, 2009 7:51am Apr 29, 2009 7:51am
Hi Karthik,

I caught your comment about your personal motivation because this forum is not heavily supported, I have trawled the different threads on FF and many of them have action but little of value - amazing how much action there is in those fora just insulting people's opinions, they seem to be populated by people with ego issues.

I write this in praise of what you are doing and to say people will find you as the value of your opinions and analysis becomes better understood. You made one telling point in your last post about the difficulty of understadning this method and how much time it takes to learn. Its much easier to learn how to lose money from those other places. Here is where I have, at last, begun to understand how to make it.

Stay encouraged - please.

Thanks for the insights
  • #1,876
  • Apr 29, 2009 8:28am Apr 29, 2009 8:28am
Quoting Horn
Dear Karthik and Fontu,

Thank you very much for taking the time to do the lengthy explanation which has definitely cleared the confusion in my mind.
Karthik , you have made a very important point which I will constantly remind myself ie not to be concerned about missing a trade. If in doubt ,leave it.

I will now put in more screen time and hopefully can update you two gentlemen on my progress in due time.

Many thanks.

Cheers
Welcome friend & hope we all learn in time as to how to actually trade & earn consistently.Everybody can just able to click the button with general sense of profit-loss can make money with high speed but at the last moment loss with lightning speed too ,just like me .Otherwise I would be multimillionaire by this time earning at the speed of 10 times per week as of my early days or 2-3 times a day in many many days in forex for 2 and half years . so one should understand it actually need to be utmost systemic to keep all those already profit . if I was able to pause just 1 week or few days after each profit day might save a lot of money & continue earn.so when no idea what doing better leave it ,Karthik appropriately adviced.

Price now I see in EU bounces from exactly the utl above +1/8MM but seeing the volume continue up & QQE possing UP in higher tf . My long taken in the morning still 53 pips profit , not taken 95 pips before ,just to see if it this understanding work. Sl changed to profit level if short starts.

Now the impulse wave UP looks different as if it just finished wave 3 & w 4 underway.

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,877
  • Apr 29, 2009 9:57am Apr 29, 2009 9:57am
Could you post the code for QQE indicator attached
Thanks
Sebastian
  • #1,878
  • Apr 29, 2009 10:17am Apr 29, 2009 10:17am
Quoting Seb88
Could you post the code for QQE indicator attached
Thanks
Sebastian
I do not have any code of QQE , it is all exe format you will find in this forum.Just changed the colour & volume indicator in the same frame .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,879
  • Apr 29, 2009 10:39am Apr 29, 2009 10:39am
I found this if you are interested

Sebastian
Attached File(s)
File Type: mq4 QQE with Alerts.mq4   7 KB | 490 downloads
  • #1,880
  • Apr 29, 2009 11:33am Apr 29, 2009 11:33am
Quoting Seb88
I found this if you are interested

Sebastian
Thanks , I have searched before but found none .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
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