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Trading using Murray Maths and Price Action

  • #2,061
  • Feb 4, 2010 12:36pm Feb 4, 2010 12:36pm
That's why it's important to work with Multi Time Frames. I would recommand you use MTF and set up your MM Levels accordingly. This way you can also see better when the support and resistance, on lower times frames, are broken. This will help you better manage your trades. I am attaching a PDF on Murray Math. Hope it helps you get a better grip on it.

Cheers !

Pahadi

Quoting s21
yes did help but didn't suppose once you set the period to be constant despite the surf between time frames? i'm asking this because 5 min mmlines are not the same with 1h mmlines...
thanks you, sorin.
Attached File(s)
File Type: pdf Murrey_Math_Study_Notes_Intro.pdf   130 KB | 3,029 downloads
  • #2,062
  • Feb 6, 2010 2:58pm Feb 6, 2010 2:58pm
Quoting Pahadi
That's why it's important to work with Multi Time Frames. I would recommand you use MTF and set up your MM Levels accordingly. This way you can also see better when the support and resistance, on lower times frames, are broken. This will help you better manage your trades. I am attaching a PDF on Murray Math. Hope it helps you get a better grip on it.

Cheers !

Pahadi
thank's, i will check
"Imagination is more important than knowledge" Einstein
  • #2,063
  • Mar 6, 2010 11:23am Mar 6, 2010 11:23am
Attached is the daily chart for GU followed by the weekly chart. The daily chart does show that a retrace of the downtrend is going on for the past 3-4 days but it shows a slightly confused picture. For a much better picture, look at the weekly chart and there you can see the power of the retrace.

You can see that there is a pin bar on the weekly chart which means that there is a very good potential for more upside. Only drawback is that the bounce has not been from a swing low. The bounce is from a decent support but this bounce would have a much stronger tone to it if it had been from a previous swing low or high. Anyway, we indeed have a bounce and i see this upside continuing over the next 1-2 weeks.

The first target for this upmove is 1.56...I would wait for a break of the weekly high or a push towards 1.50 to load up my longs.

A similar picture is there for GBPCHF which strengthens our faith in GU longs...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud.gif Size: 18 KB
Click to Enlarge Name: guw.gif Size: 17 KB
  • #2,064
  • Mar 7, 2010 1:17pm Mar 7, 2010 1:17pm
Dear Karthick, thanks for this fascinating thread. In your last screenshot there is a below-the-price indicator called 'JRSX Limited'. It seems to be different from the usual JRSX. Are you able to attach it? Or do you know where I can get hold of it? Thanks...
  • #2,065
  • Mar 8, 2010 12:39am Mar 8, 2010 12:39am
Quoting ns_karthik
...
Hi Karthik, I like your use of JRSX...nice

I enclose my text version of Murreymath should you have a need for it.

All the best

Xard777
Attached Image (click to enlarge)
Click to Enlarge Name: Screens.jpg Size: 190 KB
Attached File(s)
File Type: mq4 #4X 2010 M-Math-Text.mq4   13 KB | 1,618 downloads
  • #2,066
  • Mar 10, 2010 9:03am Mar 10, 2010 9:03am
Hello rogerthat.
You can go here http://www.forexfactory.com/showpost...stcount=175863. Hope this helps you.
Many thanks to GodfreyH.

Cheers!

Pahadi
Quoting rogerthat
Dear Karthick, thanks for this fascinating thread. In your last screenshot there is a below-the-price indicator called 'JRSX Limited'. It seems to be different from the usual JRSX. Are you able to attach it? Or do you know where I can get hold of it? Thanks...
  • #2,067
  • Mar 12, 2010 10:11pm Mar 12, 2010 10:11pm
I like your system and use of the cog. Could you please post this latest system.

Thanks,
Mike
  • #2,068
  • Apr 6, 2010 9:23pm Apr 6, 2010 9:23pm
Quoting ns_karthik
Attached is the daily chart for GU followed by the weekly chart. The daily chart does show that a retrace of the downtrend is going on for the past 3-4 days but it shows a slightly confused picture. For a much better picture, look at the weekly chart and there you can see the power of the retrace.

You can see that there is a pin bar on the weekly chart which means that there is a very good potential for more upside. Only drawback is that the bounce has not been from a swing low. The bounce is from a decent support but this bounce would have a...
well .thanks for karthik's post
i want ask a question,i find Murray Maths lines is very powerful,but you will find the number '200' in the indicator .what does it mean?if i change the number to 100,what will happen?
thanks for answering
  • #2,069
  • Edited 11:34am Apr 14, 2010 11:05am | Edited 11:34am
Nice thread here. Because I see some posters using NinjaTrader I feel the need to point out that the Murrey Math indicators for NT do not work right and are a minimal and limited tool for trading MM correctly. Murrey Math does not calculate lines on time schedules or on daily timeframes. If you look at the attachments you will see in the first picture some settings that are essential to MM calculations and are not available in the NT MM indicators. The second picture shows persistent historical lines which illustrate the way MM will shift based on price and frame size, correctly. Not trying to throw a monkey wrench in the works here but only showing the limitations of what you are using. Dan
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MMlinesProSettings.png Size: 42 KB
Click to Enlarge Name: MMlinesProPlusChart1.png Size: 220 KB
  • #2,070
  • Apr 20, 2010 8:27am Apr 20, 2010 8:27am
is this thread dead or does the thread starter still trading it like this ?


best regards
  • #2,071
  • Apr 20, 2010 2:42pm Apr 20, 2010 2:42pm
Quoting eDanny
Nice thread here. Because I see some posters using NinjaTrader I feel the need to point out that the Murrey Math indicators for NT do not work right and are a minimal and limited tool for trading MM correctly. Murrey Math does not calculate lines on time schedules or on daily timeframes. If you look at the attachments you will see in the first picture some settings that are essential to MM calculations and are not available in the NT MM indicators. The second picture shows persistent historical lines which illustrate the way MM will shift based...
Thanks for the info Dan, where can I get your correct NT MM indicator file?
Be well!
  • #2,072
  • May 8, 2010 1:25pm May 8, 2010 1:25pm
Ok guys....i am back after quite some time....bigger and better and wiser...i still trade with price action which means that it is still working for me and also means that i truly believe that it is the only one that works....

anyway, last few mnths, have been busy setting up my trading as a fund manager in a couple of funds....now, slowly settling down and hence i am back....planning to start posting more frequently again...
  • #2,073
  • May 8, 2010 11:11pm May 8, 2010 11:11pm
i have been doing a lot of analysis on price action , murray maths, SR, fibs over the last few mnths and have noticed that all of these somehow give the same results...whether u use fibs or MM or get SR just by watching charts, all of them tend to give similar areas of support and resistance... so what u use is purely upto ur convenience.....
  • #2,074
  • May 9, 2010 1:22am May 9, 2010 1:22am
Attached are the EU charts for 4H, daily and weekly. The 4 hour charts show a healthy recovery so far but we would need the EU to do much more to show that we have reached a bottom....

the daily chart shows the recovery...the day is not yet complete as per the charts (it completes only on sunday)....if it closes the day closer to 1.28, that would be a 2 day pin bar which is a bullish sign...but considering the huge downtrend recently, any longs should be with tight stops...

the weekly chart does not have much information....we have had a big fall last week and so far the bounce, however small it may be, has been from a big area of support....

overall, we could see a slight recovery in GU and EU next week...how far the recovery goes will depend on other factors and would need to be watched daily....1.2940 is key....a break of that will lead to more upside but if there is going to be a trend change in the euro, as can be seen in the weekly, it would involve a few more visits to the bottom to clear all the stops...

There are so many articles around the internet talking abt the end of the euro and asking to buy dollars....surprising that these same sites were talking about the end of the dollar and asking us to buy euros 2-3 mnths back !!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu4h.gif Size: 15 KB
Click to Enlarge Name: eu1d.gif Size: 16 KB
Click to Enlarge Name: eu1w.gif Size: 17 KB
  • #2,075
  • May 19, 2010 4:05pm May 19, 2010 4:05pm
hi karthik;

are you no longer using mm? i dont see it on your charts any longer?

btw; what is jrsx? would you mind sharing? along with how to use it?


thank you,
  • #2,076
  • Edited May 22, 2010 12:05am May 21, 2010 11:37pm | Edited May 22, 2010 12:05am
Welcome back, Karthik!

1) The big drop from EURUSD blew through all the Murrey Math levels even at the extreme level, so if you were trying to go long from those levels, you would get stopped out. How did you know when was the reversal based on Murrey Math levels?

2) Are you starting to use indicator now? How's that help you with Murrey Math and price action? Isn't it lagging?

Thanks.

Quoting ns_karthik
Attached are the EU charts for 4H, daily and weekly. The 4 hour charts show a healthy recovery so far but we would need the EU to do much more to show that we have reached a bottom....

the daily chart shows the recovery...the day is not yet complete as per the charts (it completes only on sunday)....if it closes the day closer to 1.28, that would be a 2 day pin bar which is a bullish sign...but considering the huge downtrend recently, any longs should be with tight stops...

the weekly chart does not have much information....we have had a big...
  • #2,077
  • May 21, 2010 11:39pm May 21, 2010 11:39pm
What is Murrays Math line?
  • #2,078
  • May 22, 2010 12:52am May 22, 2010 12:52am
Quoting samk090905
hi karthik;

are you no longer using mm? i dont see it on your charts any longer?

btw; what is jrsx? would you mind sharing? along with how to use it?


thank you,
sam,
as posted in the above charts, u do see the murray math lines...it is a small indicator, which is a variant of the rsi indicator, and it helps us to tell the overall trend...u cannot take trades based on those...
  • #2,079
  • May 22, 2010 12:53am May 22, 2010 12:53am
Quoting EATrader
Welcome back, Karthik!

1) The big drop from EURUSD blew through all the Murrey Math levels even at the extreme level, so if you were trying to go long from those levels, you would get stopped out. How did you know when was the reversal based on Murrey Math levels?

2) Are you starting to use indicator now? How's that help you with Murrey Math and price action? Isn't it lagging?

Thanks.
murray maths provides u areas of support and resistance where price is likely to reverse. by itself, it does not tell u when the price will reverse (nothing does)...u need to watch the price action at these levels to see what is going to happen next..
  • #2,080
  • May 22, 2010 12:53am May 22, 2010 12:53am
Quoting steroidman
What is Murrays Math line?
start reading the thread from the beginning, mate...
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