Trading using Murray Maths and Price Action

usd/chf 4h.

gbp/usd 1h.

Go down to get more buyers. Might hit that 1.6 in due course.

I actually bought the close on GU we'll see if we get some action or not to the long side on the open. Maybe one last desparate push up for the methhead stock stimulas package...lol.

like the channel projection into the recent high

lookin to sell it on the pullback

decent channel lines....we break...looking to short on the pullback failure underneath

Shorted both . Waiting to go long if rejected by those supports.

nzd/cad 4h

nzd/usd 4h

eur/gbp 4h.

This one has touched bottom of ascending channel. Might bounce up on Monday or ... pop down !

MMers,

I have known about MM for a grand total of about 48 hours. This has given me just enough time to do some preliminary reading, download and play with some MM code on Tradestation, test some MM ideas, begin my research and, finally, sign up to the forexfactory (where I found the best MM threads) and ask these questions. Thank you to everyone for the generous sharing of information on this site. Needless to say, I have a pile of questions about MM which I would very gratefully receive any feedback on. Any comments, no matter how brief, touching even on one of my questions, would be much appreciated.

1. How did Murrey discover the MM lines? I don't think I am asking for a history of using eighths, Octaves, Gann and so forth, or am I? More specifically, is there any information about how Murrey discovered the number of frames he would reference into the past and how he developed his logarithmic scaling algorithm (this question is extended in question 2)?

2. Similar to question 1, when I am examining some MM code regarding when MM lines restart and reset it is intriguing to me, so I rewrote some MM code, altering its algorithmic base, to try to ascertain why the current algorithms are so effective; I am wondering if Murrey stumbled upon the current dominant algorithm, or perfected it slowly in order for it to become his piece de resistance, or was there another basis upon which the Math was created. My total lack of knowledge regarding the genesis of the idea as to why MM lines are positioned where they are, leaves me dumbfounded, and I am wondering if anyone can shed any light on this?

3. Similarly, what is/was Murrey's reasoning for choosing the number of frames (bars) used to calculate the range used to create the 1/8 levels? Why the dominance of powers of 2: 2,4,8,16,32 and 64?

4. I have played with other frame settings such as, 2^9=512, and even this appears to give interesting/significant support and resistance. What are the frame limits most popularly used?

5. I have also played with consecutive number frame limits such as 1 to 100 and each of these also appear useful. Is there a clear rational for choosing the number of frames or is it based mainly on observing what demonstrates the most obviously useful price action against support and resistance on the chart?

6. I am looking at some MM code which calculates the highest high of a set number of previous bars (and the lowest low, in order to calculate the range). The number of bars is determined by two user defined inputs (in the code that I have): (i) the number of frames (bars) and, (ii) a multiplier (default setting of 1, which is multiplied by the frames setting). When is a multiplier a preferred way of resetting the number of bars, as opposed to just changing the number of frames?

7. I have viewed MM lines on various time frame charts such as 1min, 5min, 10min, 15min, 20min, 30min, 60min, 180min and daily on the YM. I have been searching for confluence between the different time frames, and adjusting settings accordingly. Due to the fractal nature of all equity data, the MM lines show are equally meaningful in all time frames. Are there any suggestions regarding the best MM settings for the YM given that my trading preference is for the 15 min chart.

8. Given that I am only proficient in TradeStation, not any other trading platform, are there any studies (indicators) written for Tradestation, other than for MM Lines? For instance, studies that show momentum lines, time quadrants or circles of conflict (understanding that EL code cant chart circles)? Alternatively, getting the MM software is the obvious choice, but if there are any other alternatives, prior to that, then advice would be appreciated.

Thank you very, very much.

aud/jpy 4h

February's trade not close due to long objective has not achieve. About 60 pips more to go.

Desperate shorts before market close just to secure the pips.

Will close long at more or less to target and reverse entry to short , upon finding several confluences , by tomorrow or the day after, I think.

aud/cad 4h.

Shorted due to Cad's Current Acct Balance was good the other day and some technical confluences as per in chart.

No long-term target yet. Wanna see whether it can stay below that white panel or not.

Big Channel is ascending. In the chart , one of the probabilities is to touch the median line of that big channel.

I always say if it looks good use it...you're probably going to have to find your own way through it like the rest of us....just because the line is there doesn't mean it's going to turn...I haven't used them very long either, but in my experience I've been looking at the daily settings on the 4hr and daily charts. As price approaches the significant levels 0/8, 2/8, 4/8, 6/8, 8/8...I'm looking at my entry charts on the 60m setting to dial in any overshoots of those lines at the -2/8, -1/8 +1/8, +2/8...quick double tops and bottoms on the 1hr or 15m charts at the line, have given some nice entries...solid candle stick reversal patterns, along with fib and channel confluence lends confidence to the entry, but you are right they are very significant aren't they...good luck.

Don't know anything about tradestation...never used it.

Here's a current eu example of what I am talking about....daily setting on the 4hr chart, 60 min setting on the 1hr or 15m chart.

Who knows maybe the code is smarter than the ones who built it...

aud/chf 4h

Be extra careful if you are shorting AUD against the others at this present moment.

However ... short scalp, I think still ok.

looks convincing up there.

Thx BayFisherman,
Awesomely useful reply, very much appreciated, and definitely helps me on my way in this. Yeah, ur right, my email was a huge mental mouthful ... food for thought ..haha
Cheers!

regardless...looks due for a pullback, if not we will be breaking higher quickly, IMO.

aud/chf 1h.

Earlier , Aust data was not that good , shorted it , and now US data isn't that good also. Technically, everything are already inside the chart.

Placed be+1 on both long and short coz PA is too near to positions.

Wrongly closed one long (refer post # 2774).

Btw ... Where are you , Bayfisherman ? Thought, you probably went out fishing lots of pips out there.

aud/usd 1h.

@ Bayfisherman , Refer to your post # 2775. I see two balls in that chart. Probably yours ...

Whats up venn, au/ca ready to take off i think, bought at demand zone