Murrey EURUSD 30m

Hello

I was watching behaviors of some pairs over Murrey lines on small timeframe. I found out that If you put EURUSD on 30m chart, you can use the following strategy to get some minor pips 8 - 10 pips and might repeat around three times a day.

1.0 BUY ENTRY
1.1 Wait for the European or US market (08:00 - 22:00 London Time).
1.2 EURUSD breaches Murrey line up and manages to close above it.
1.3 EMA(5,close) > EMA(6,open).
1.4 BUY while TP = next Murrey Line and SL = breached Murrey line - 10 points.

2.0 SELL ENTRY
2.1 Wait for the European or US market (08:00 - 22:00 London Time).
2.2 EURUSD breaches Murrey line down and manages to close below it.
2.3 EMA(5,close) < EMA(6,open).
2.4 SELL while TP = next Murrey Line and SL = breached Murrey line + 10 points.

INDICATORS:
You will find enclosed two indicators:
1. Euro US Session Highlighter which highlights both sessions with different color for better visibility.
2. Murrey 822 gmt which will do two things:
a. show Murrey Lines.
b. draw a Green "ARROW-UP" above the candle whose EMA(5,close) > EMA(6,open) and draw a Red "ARROW-DOWN) below the candle whose EMA(5,close) < EMA(6,open).

I will post some examples.

The enclosed example of EURUSD behavior on 3, Sep 2010.

BOX(1):
EURUSD breached 1/8 line (1.2817) and managed to close above on 30 min chart. The candle had got a Green Arrow-Up above it which means EMA(5,close) > EMA(6,open). Long entry was made with TP = 2/8 (1.2848) and SL = (1.2817 - 10 points = 1.2807). Target Achieved

BOX(2):
EURUSD breached 2/8 line (1.2848) and managed to close above on 30 min chart. The candle had got a Green Arrow-Up above it which means EMA(5,close) > EMA(6,open). Long entry was made with TP = 3/8 (1.2863) and SL = (1.2848 - 10 points = 1.2838). Target Achieved

BOX(3):
EURUSD breached 3/8 line (1.2863) and managed to close above on 30 min chart. The candle had got a Green Arrow-Up above it which means EMA(5,close) > EMA(6,open). Long entry was made with TP = 4/8 (1.2863) and SL = (1.2863 - 10 points = 1.2853). Target Achieved

Today was not a good day for this strategy. I will be looking into the details to see what went wrong. It might be because the market as a whole is not good enough.

Could be holiday weekend as well.

How long you been using this idea?

Also the time has to be adjusted for your broker time. Mine is gmt+2 since I use alprai so London open is 9 while NY open i 14

need to double check when London closes so the box ends.

Yes, you are correct. It needs to be adjusted as per your broker time. What you need is only London open & NY close.

I have been using it for a while almost a month. it achieves usually 75% accuracy.