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Trading using Murray Maths and Price Action

  • #2,581
  • Feb 9, 2012 3:50pm Feb 9, 2012 3:50pm
e/u - You can see many confluences in there to short/scalp.
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  • #2,582
  • Feb 9, 2012 4:43pm Feb 9, 2012 4:43pm
Quoting VennD
Both blown at BE+1 .

eur and jpy are at par - both are very strong.

I might have to forget about shorting euro atm - KIV.

Maintain longs on both.

Not yet its still in a bear teritory and you know all levels are mostly respected on the upside as we may look at charts ( serious rr s )

again good shorts at 1.3315 you can move your SL to BE + 6 because if 1.3306 is broken then it may go for a new high
finding A M S
  • #2,583
  • Feb 9, 2012 6:07pm Feb 9, 2012 6:07pm
nice one...
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  • #2,584
  • Edited 7:47pm Feb 9, 2012 7:09pm | Edited 7:47pm
You might want to be extra careful when shorting e/u , e/j and the likes ...

1) Look at eur/aud ... IF it can stay above 1.2420 , it might push 200-800 pips from there... (long term projection). Here still , holding long from 1.2138 .

2) eur/cad - long from 1.2884 , Projection to touch 1.3352/552/752/952 long term.

However , all those are just for me ... and Im NOT making any calls in here ...

attached : eur/aud 1h & eur/cad 1h.
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  • #2,585
  • Feb 9, 2012 7:19pm Feb 9, 2012 7:19pm
Quoting VennD
You might want to be extra careful when shorting e/u , e/j and the likes ...

1) Look at eur/aud ... IF it can stay above 1.2420 , it might push 200-800 pips from there... (projection). Here still , holding long from 1.2138 .

2) eur/cad - long from 1.2884 , Projection to touch 1.3352/552 long term.

However , all those are just for me
Haven't looked at EC...jumped in early on EA and got caught on the pullback. Long EN, ECHF, EGBP...I'll take the 15/30 short EJ, but yes looking long longer term.

Just waiting on you to give me the reverse signal...lol.
  • #2,586
  • Edited 7:49pm Feb 9, 2012 7:25pm | Edited 7:49pm
Quoting bayfisherman
Haven't looked at EC...jumped in early on EA and got caught on the pullback. Long EN, ECHF, EGBP...I'll take the 15/30 short EJ, but yes looking long longer term.

Just waiting on you to give me the reverse signal...lol.
Tight stop loss or minimize risk IF you are going against commodity currencies ... just an opinion from a noob ...

and IF you are late to long them (eur/aud & eur/cad) , Im afraid you have to wait for a down retracement and a good support.
  • #2,587
  • Feb 9, 2012 7:46pm Feb 9, 2012 7:46pm
Quoting VennD
Tight stop loss or minimize risk IF you are going against commodity currencies ... just an opinion from a noob ...
How do you like that 102.73 line EJ...prior resistance/now suppport? B/e on my other euro crosses long...+47, +9, +38, b/e + 6 on jpy hedge...covered for the moment. EJ nearing +20 b/e.
  • #2,588
  • Edited 8:29pm Feb 9, 2012 7:56pm | Edited 8:29pm
Quoting bayfisherman
How do you like that 102.73 line EJ...prior resistance/now suppport? B/e on my other euro crosses long...+47, +9, +38, b/e + 6 on jpy hedge...covered for the moment. EJ nearing +20 b/e.
Nothing wrong with all those. You can keep long term any of them and just scalp within the waves.

attached : eur/jpy 1h , long from 97.05 , and short @ 103.20 w/BE+1 because too near to PA.

The 2nd chart is eur/usd 1h, long from 1.2630 , and short @ 1.3316 w/BE+1.

IF market doesn't take out that BE+1 , I will decide later which one might be a scalper and which one will be kept for long term , after I see the moves.
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  • #2,589
  • Feb 10, 2012 6:24am Feb 10, 2012 6:24am
Any takers?
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  • #2,590
  • Feb 10, 2012 12:31pm Feb 10, 2012 12:31pm
Quoting bayfisherman
Any takers?
- If I were you, I wouldn't take that trade because on higher time frame there is a bearish pattern(Imho).
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  • #2,591
  • Edited 1:10pm Feb 10, 2012 12:52pm | Edited 1:10pm
Quoting VennD
e/u - You can see many confluences in there to short/scalp.
- My indicator didn't detect this pattern what is that pattern and please guide me on how to draw it?
  • #2,592
  • Feb 10, 2012 6:05pm Feb 10, 2012 6:05pm
Nice chart as far as pattern and stucture, high 1/17, low, 1/27, high 2/6
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  • #2,593
  • Feb 11, 2012 2:18am Feb 11, 2012 2:18am
Quoting bayfisherman
Nice chart as far as pattern and stucture, high 1/17, low, 1/27, high 2/6
- Yes, it dropped like a stone on H4, but on H1 it has a support from 0.9135 to 0.9115. So it has to break that area in order to continue down.

- Btw how is your trade on Kiwi M15.
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  • #2,594
  • Feb 11, 2012 5:18am Feb 11, 2012 5:18am
Quoting Ziko9o8
- Yes, it dropped like a stone on H4, but on H1 it has a support from 0.9135 to 0.9115. So it has to break that area in order to continue down.

- Btw how is your trade on Kiwi M15.
Got in too soon...was nappin when I got taken out so I wasn't able to reenter... usually run about 20 pip stops. May have saved me though in case we gap down sunday..lol...closed right on top of my support line.

should be an interesting week coming up.
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  • #2,595
  • Edited 6:16am Feb 11, 2012 5:24am | Edited 6:16am
Quoting Ziko9o8
- Yes, it dropped like a stone on H4, but on H1 it has a support from 0.9135 to 0.9115. So it has to break that area in order to continue down.

- Btw how is your trade on Kiwi M15.
So what's the story there with those lines you are drawing, the triangles and such...how are you using those to project future prices or to look for symmetry of some sort?

I can see it's a little late to short this one...but maybe a pullback to the top of the range or UML then down to complete the ABC.
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  • #2,596
  • Feb 11, 2012 10:48am Feb 11, 2012 10:48am
Quoting bayfisherman
So what's the story there with those lines you are drawing, the triangles and such...how are you using those to project future prices or to look for symmetry of some sort?

I can see it's a little late to short this one...but maybe a pullback to the top of the range or UML then down to complete the ABC.
- It is a triangles drawn using a Fibonacci levels you could draw it yourself or you could use an indicator to draw it for you.

- When your indicator detect a harmonic pattern (bullish or bearish) it draws a PRZ (Potential Reversal Zone) from this zone the prices tend to reverse (that's exactly what you do but you uses Andrew Pitchfork)

- Example: GBP/AUD H1 there was a harmonic pattern "bearish butterfly"
when the price enter PRZ (Light steel blue rectangle) there are a seller in this rectagle so after a while it reverses.

- Sir. VennD could talk to you about it because he use it + something else (Forex Skunk Rider), but unfortunately he is still breathing fresh air but under the blanket.

- You could read more about harmonic trading in Harmonic and Classic Patterns Thread.

- If you could combine between harmonic trading and pitchforks, you could exactly no where the prices tend to reverse (if u find any thing interesting in your new study (Harmonics + Pitchforks) please share it).
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  • #2,597
  • Feb 11, 2012 11:28am Feb 11, 2012 11:28am
Quoting Ziko9o8
- It is a triangles drawn using a Fibonacci levels you could draw it yourself or you could use an indicator to draw it for you.

- When your indicator detect a harmonic pattern (bullish or bearish) it draws a PRZ (Potential Reversal Zone) from this zone the prices tend to reverse (that's exactly what you do but you uses Andrew Pitchfork)

- Example: GBP/AUD H1 there was a harmonic pattern "bearish butterfly"
when the price enter PRZ (Light steel blue rectangle) there are a seller in this...
I guess I'll have to look into it...just trying to figure out how the angle of the triangle projected to the reversal area is drawn before price gets there is all... I'll look into the thread. Nice shot at Venn by the way, lol.
  • #2,598
  • Edited 12:56pm Feb 11, 2012 12:46pm | Edited 12:56pm
I managed to get one of the harmonic indicators to load on my mt4...my question is...Is the indicator projecting the potential pattern or identifying the pattern after it is completed. I've seen very few shots of projections and entries off those projections. You were asking about my kiwi long and forks...well this completed pattern seems to think my long was in a good position. I guess i'm trying to understand the trade here...it's signaling for a bulllish move at the end of the triangle...just curious was the end of the triangle already there before price hit it or not, if not is there some filtering method you are using to decide whether or not to take the long now that the pattern has printed and bounced some in the rectangle?

The other thing I'm noticing is that the patterns are timeframe bias...it's not showing this area on the other time frames...something I have a problem with...I mean are you looking for a confirmation of patterns across higher and lower time frames here...showing on the 1hr like this then something a little different on say the 15 but both confluence bullish in the same area?

I can see it's going to take a fancy program to generate and identify these types of structures/patterns...no way I'm going to be able to draw these freehand anytime soon...lol. I'll get back to you on the fork projections, which are there before price gets there and these patterns this week. Pretty exicited about it, always love the market geometry.
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  • #2,599
  • Feb 11, 2012 1:14pm Feb 11, 2012 1:14pm
Here's a combination of forks and butterflies...will have to play around with some this week. Keep you posted.
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  • #2,600
  • Feb 11, 2012 10:05pm Feb 11, 2012 10:05pm
Quoting Ziko9o8
-

- If you could combine between harmonic trading and pitchforks, you could exactly no where the prices tend to reverse (if u find any thing interesting in your new study (Harmonics + Pitchforks) please share it).
To me this is pretty interesting from a pitchfork point of view with the pattern over the top of it...don't know what all the lines drawn here are for but I recogonize most of them. The pitchfork is drawn by the zup...they've drawn in the m. schiff line on the center but not on the UML, so I added that in. The indicator has also drawn in the fork time projections...the 100% time projection at the end of the pattern comes in at the 5/8 MM line (I use 60m tf for intraday stuff) and takes off to the upside to run into my projected M. Schiff UML at the 7/8 line. Now technically it doesn't get much more precise than that 60 to 70 pip run there on a 15m chart with 20 pip stop getting 3 to 1. Yeah...I'll be watching this, I would say this is very interesting to me.
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