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  • #10,361
  • Jul 11, 2016 5:04am Jul 11, 2016 5:04am
Hello Dave, you do well to keep alive the thread, but I silently follow. Can I ask you to score on the chart with an arrow or a line the precise points of entry?
I hope that Clive soon find time to update us on his last operativity.
All very interesting. Thank you.
  • #10,362
  • Jul 11, 2016 5:19am Jul 11, 2016 5:19am
Quoting bluslim
Hello Dave, you do well to keep alive the thread, but I silently follow. Can I ask you to score on the chart with an arrow or a line the precise points of entry? I hope that Clive soon find time to update us on his last operativity. All very interesting. Thank you.
Hi I do not want to appear disrespectful but you need to look at the each element in the method understand them and just like NAVK as done make it your own, then you do not after depend on anyone, surly that must be a better way to do it, just open a demo or do true paper trading until you are happy to trade real money, another way would be to post charts and perhaps other thread members that are interested will make some comments
  • #10,363
  • Jul 11, 2016 7:00am Jul 11, 2016 7:00am
Quoting OAPDave
Ok guys tried my best to keep the thread going, no real interest so just leave you with this, the value of a grid of any style, Murrey, Daily Pivots, even Round numbers. Todays early London Open early action {image} {image} {image}
Dave,

There is something about the Murray in the first chart (in my charts too) that I find very confusing: the price bounced up from the Ultimate RESISTANCE , which is below major support/resistance, and other similar confusing occurrences. Is it he settings of the indicator? Or should the trader ignore the words and pay attention only to the LINES and their positions in the chart?

Thank you
  • #10,364
  • Jul 11, 2016 7:54am Jul 11, 2016 7:54am
Quoting MidnightRun
{quote} Dave, There is something about the Murray in the first chart (in my charts too) that I find very confusing: the price bounced up from the Ultimate RESISTANCE , which is below major support/resistance, and other similar confusing occurrences. Is it he settings of the indicator? Or should the trader ignore the words and pay attention only to the LINES and their positions in the chart? Thank you
Hi that's a great question, and its going to be hard for me to answer in a few words, I actual met Murrey, what a strange man but very very interesting to listen to, always talks in numbers, right here goes think of it like my battle with Clive about overbought/oversold on the 1min CCI what Murrey is trying to do is give you a roadmap to the future possible turning points, with the charts I have been showing it is just using the last 1024 1 min bars to forecast this so when we know the range can be on average 100/150 pips it can just keep passing through level after level and mostly each level (he calls them Octaves) are 15 pips apart you can see if we have a range of 150 how many it can pass through, that's why I hone in on certain levels, now also the grid will reset its self when data passes outside the grid, for a more accurate and more meaning full set of levels look at bigger time frames, enclosed a couple of charts. You can also think of it like using Pivots, Daily takes yesterdays data, Weekly takes last weeks data, and so on much the same with Fibs. My main reason for using Murrey is because I can get a good risk/reward set up off it. I will stop now let you think about it, then when you come back with other questions I will do me best to answer.
Monthly chart 10years so 12 months in a year x 10years , nearest Murrey 128
Daily chart, 1year so 256 nearest to how many trading days in a year
Weekly 1 hour chart, 128 hours in a week
You will see that the levels get wider apart the bigger you go , as I say I will answer anything to the best I can
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  • #10,365
  • Jul 11, 2016 8:09am Jul 11, 2016 8:09am
Quoting MidnightRun
{quote} Dave, There is something about the Murray in the first chart (in my charts too) that I find very confusing: the price bounced up from the Ultimate RESISTANCE , which is below major support/resistance, and other similar confusing occurrences. Is it he settings of the indicator? Or should the trader ignore the words and pay attention only to the LINES and their positions in the chart? Thank you
Heres NAVK 5 min Chart with Murrey 256 nearest to how many 5min in a day, you have an idea of a Daily Range look for the best chance to get from level to level
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  • #10,366
  • Jul 11, 2016 8:16am Jul 11, 2016 8:16am
OAPDave What is your disagreement with Clive about over bought and Over sold?
  • #10,367
  • Jul 11, 2016 8:23am Jul 11, 2016 8:23am
Quoting kthrapp350
OAPDave What is your disagreement with Clive about over bought and Over sold?
Over the many ways that you can use CCI, but all done and dusted now.
  • #10,368
  • Jul 11, 2016 8:51am Jul 11, 2016 8:51am
Many ways to trade every indicator. My best trades have always come from buying or selling pullbacks in a current trend. 1min charts are so short I have a hard time trusting any reversals unless a bigger trend goes with it on longer time frame. So adding a 60min CCI is pretty good just make sure the short term and long term agree and your odds are pretty good. If the market goes into a ranging mode then sit on the sidelines even if you do not trade at all that day. Nothing ever stays the same. So Price Action that we see today will be different than tomorrow. But the principals do not change. If in range mode you could even use a H/L for an hour or two and sell the tops and buy the bottoms just keeping in mind that it change and you will have to adjust to it. To me Price Action trumps all the indicators.
  • #10,369
  • Jul 11, 2016 9:13am Jul 11, 2016 9:13am
Really that is why Clive originally had the 35LWMA, to show a trend. When price action was above the 35 LWMA you only went long and used any pulled backs in the CCI that went to 100 or more, then when it came back to the trend you can get in. That is as good as any ones system. 30CCI on a 1min chart and 35 LWMA accomplish the same thing. Just depends on what you like to see on the chart.
  • #10,370
  • Jul 11, 2016 10:47am Jul 11, 2016 10:47am
Quoting kthrapp350
Many ways to trade every indicator. My best trades have always come from buying or selling pullbacks in a current trend. 1min charts are so short I have a hard time trusting any reversals unless a bigger trend goes with it on longer time frame. So adding a 60min CCI is pretty good just make sure the short term and long term agree and your odds are pretty good. If the market goes into a ranging mode then sit on the sidelines even if you do not trade at all that day. Nothing ever stays the same. So Price Action that we see today will be different...
Interested if you have any views on the use of range in your trading decisions, be it Monthly, Weekly or Daily, and the hunt for the day THEY put the weekly bottom or top in the market
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  • #10,371
  • Jul 11, 2016 11:40am Jul 11, 2016 11:40am
Generally, I look a daily charts briefly. But I only trade from 5am MDT to about 10:00am MDT in the US. So that is only 5hrs a day. So I do not spend a lot of time on 4hr and 2hr charts. I only trade while in front of the computer. I am most concerned about 15min and down in time frames. So simular to this tread. I go with the trend and trade pullbacks or breakouts. I have 12 min long term and then a 4 or 5min and then a 1 or 2min chart. I want the 12 and the 4-5min charts to going in the same direction.

Usually if the five is above my MA then of coarse I go long. When below the MA only short. If Price action is ranging then I wait for a breakout. If I miss an entry then I wait for another. I do not chase. I lose 70% of the time I chase. If I trade from 5am-12noon, price can change direction 3 or 4 times. but on average 3 times in that time period. So I look at daily and 4hr just to see where we start from and what the big picture is. But after that I follow the 12 and 5.

5min chart works for me like the 175LWMA for the Clive. The 12 is just 420LWMA. Makes it easier to stay out of ranging markets and to find the S/R points.

As far as range goes. If I see GBP/USD move 80-120pips that would most often mean I am stopping, and not looking for it to much further. Of coarse like today in the London open it went down 100,then up 120 and then ran out of gas. But do not have an ADR indicator up.
  • #10,372
  • Jul 11, 2016 11:50am Jul 11, 2016 11:50am
Quoting kthrapp350
Generally, I look a daily charts briefly. But I only trade from 5am MDT to about 10:00am MDT in the US. So that is only 5hrs a day. So I do not spend a lot of time on 4hr and 2hr charts. I only trade while in front of the computer. I am most concerned about 15min and down in time frames. So simular to this tread. I go with the trend and trade pullbacks or breakouts. I have 12 min long term and then a 4 or 5min and then a 1 or 2min chart. I want the 12 and the 4-5min charts to going in the same direction. Usually if the five is above my MA then of...
Thanks for your reply
  • #10,373
  • Jul 11, 2016 1:39pm Jul 11, 2016 1:39pm
So here is the chart that I set up reflecting OAPDaves chart. This is a 2min chart of todays GBP/USD price action. It is Heikin-Ashi chart, 20SMA & 83WMA. Then a 8CCI, 30 CCI, 83 CCI. That reflects the same values as a 1min chart if we double everything. So are trading 15 minutes of price action with an hour of price action with just under 3hrs of price action. The CCI of 30 and 83 follow the 35LWMA and 175LWMA very close. But you have 3 time frames on one chart. The Fractals are just S/R points within the trends. very handy. Easy chart to trade actually!! You could use any Oscillator that you like and do the same thing.
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  • #10,374
  • Jul 11, 2016 1:56pm Jul 11, 2016 1:56pm
Quoting kthrapp350
So here is the chart that I set up reflecting OAPDaves chart. This is a 2min chart of todays GBP/USD price action. It is Heikin-Ashi chart, 20SMA & 83WMA. Then a 8CCI, 30 CCI, 83 CCI. That reflects the same values as a 1min chart if we double everything. So are trading 15 minutes of price action with an hour of price action with just under 3hrs of price action. The CCI of 30 and 83 follow the 35LWMA and 175LWMA very close. But you have 3 time frames on one chart. The Fractals are just S/R points within the trends. very handy. Easy chart to trade...
Great stuff my friend, glad to see another slant on the method, this thread just might be coming back to life, even seen THE BOSS & D/Trader looking at the same time yesterday, now I had a little chuckle at that.
  • #10,375
  • Jul 12, 2016 2:37am Jul 12, 2016 2:37am
Quoting OAPDave
{quote} Great stuff my friend, glad to see another slant on the method, this thread just might be coming back to life, even seen THE BOSS & D/Trader looking at the same time yesterday, now I had a little chuckle at that.
I told you..!!!!!
  • #10,376
  • Jul 12, 2016 3:16am Jul 12, 2016 3:16am
Quoting Pipglutton
{quote} I told you..!!!!!
Thanks my friend, still need a few more charts posted ? not playing today range to big for me by the time I got up, and its my Walking football session, have a look after lunch when I get back. Thanks again for your support
  • #10,377
  • Jul 12, 2016 4:03am Jul 12, 2016 4:03am
Bought GBPUSD yesterday, reached my profit target this morning, closed it for +104 Pips
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  • #10,378
  • Jul 12, 2016 7:30am Jul 12, 2016 7:30am
For the guy ( G ) that as asked me about a 4hr the screenshot might be better than my explanation ?
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  • #10,379
  • Jul 12, 2016 8:30am Jul 12, 2016 8:30am
Quoting OAPDave
For the guy ( G ) that as asked me about a 4hr the screenshot might be better than my explanation ? {image}
Thanks for that Dave , will have a better look at that tonight.
  • #10,380
  • Jul 13, 2016 1:30am Jul 13, 2016 1:30am
Quoting gal007
{quote} Thanks for that Dave , will have a better look at that tonight.
This just might help and make Murrey and the smaller timeframe a little easier to understand, Set a 256 on a Daily Chart, then change your fib tool to 1/8ths and place between the main 2 lines of the zone we are in, now change the timeframe of the chart to what ever you want to look at , then delete the main Murrey levels, what you are left with are the steps that price will rise or fall, these can with the help of range give good risk/reward trades
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