Trading using Murray Maths and Price Action

here it is...

This one hit last night for 51. I wasn't watching the market much yesterday, several good trades were missed.

many thanks, thanks for the info and I'm enjoying following your posts. i have recently started studying MM and looking forward to trying it in the new year.

happy christmas to all

Thanks. Haven't been around much since the family was sick last week and then the holidays.

Who says you can't make some money during the holidays?

Nice charts.....

All the best

Xard777

Dobre Den Traders,

A little exercise since I have gotten several PM's on how to trade Murrey. As you can see I use the lines a little differently than the 'traditional' Murrey methods. I like these lines a lot, and think if used correctly, which ever method you use, can be very successful.

Anyway, here is a 4hr AU chart. A little exercise I like is to look at is different charts from others and try to see what they person who posted the chart sees, whether I use the method or not, and 99% I never use, but it helps quite a bit to get different point of views.

So here we go, what do you see. Feel free to look at different time frames. Again, I am a novice as far as Murrey trading goes and use them as s/r, so this will help me out too. Join in if you like.

Thanks for the indicators.

So the first thing I noticed is the 8/8 lines:

8/8: Hardest line to rise above (overbought).

can you put the template ?

are there indicators ??

Not sure what your entry/exits are, but if you add a pitchfork, the price follows the channel all the up to the 8/8's line.

He posted the Murrey Lines indicator, its a few pages back.

8/8 is a resistence ! signal short

Yes according to the rules. But what if it overshot the 8/8?

above 8/8 go to +1/8, new resistence

One thing is, on the lower tf's you have a piercing candle, and the next is goes short.The next is on the lower tf's the 67.5 is broke, but it does retrace back above the the 67.5.

One note to make is its hard to get a good analysis during this time due the holidays.

Just come here after long time to say hello to all & specially Xard777 whose old mm indicator I am still using & fine .Purely price action over the MM background .Thanks .fontu


Some of his teaching I copied earlier here may help others here "
One of Murrey's Laws is:
If it cannot close above its MM +2/8th, it
will have to come back down and touch its MM 4/8th

This strategy I can relate to as most times it will do just that and continue further down towards the 2/8th, 1/8th & 0/8th the first time down.

That's why he says sell half your position and let the other half run

Another Law of Murrey:
If it closes, a “baby” 2/8th below MM 3/8th, then it will fall to 2/8th, 1/8th or 0/8th again backing up the previous Law.

Both these strategies work in reverse
if it cannot close below its MM -2/8th, it
will have to come back up and touch its MM 4/8th

If it closes, a "baby" 2/8th above MM 5/8th, then it will climb to 6/8th, 7/8th or 8/8th.

The MurreyMath.TimeFrame indicator that I posted earlier shows the "baby" 2/8ths as the white solid lines (the white dashed line being 4/8ths)

Hope this helps with your research,

regards

Xard777
"

one link I posted in early days about mm"
http://www.foretrade.com/MM_description.htm

Price within the trading ranges generally speaking indcisive stage , below lbottom trading zone bearish & above top trading range bullish in nature .

so as eu enterd trading ranges area should stay quite some time ranging top to bottom before the decision comes up , range not exactily the lines 3/8mm & 5/8 mm in h1 rather up & down like 1.3503-19 to 1.3351-37 possible .
fontu

How I see it per my chart:

The lower tf's are ranging, per the fibs the price cycle has been completed. So the price must either broke the 8/8's ar the 7/8's for me to enter, I may even wait until the 6/8's for a short. Also the channel on the 4hr and 1hr meet the 8/8's almost dead on.

Here is another, but with the pitchfork, the upper median line hits the target dead on. Thus, prediction of time and price hits perfectly.

a question !
do you close the metrader at the end of day for mew update of indicator and new levels ??