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Murrey Math and Quantum Method

  • #221
  • Mar 6, 2017 9:22am Mar 6, 2017 9:22am
AN

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Observe how price has been pushing up with a number of pullbacks.

Do you really think its ideal to short from 7/8 under current conditions?

There is some minor rejection at the 7/8 level but not enough to convince me to short it.
I would want to see a big rotation type candle similar to a bearish engulfing candle before I got interested.

I would not even be interested unless some serious bear strength enters the chart then I'll reassess.
To top it off the PA is currently at a snails pace which is another reason to avoid it.

If you really wanted to short this pair then place your stop about 5 pips above the recent high and a TP no deeper than the next level down @ 6/8.

Very often price makes a move back to test the DO line but no guarantees this will occur.

ps. increased bearish intent and stronger momentum to the downside then reassess forsure.

Masterrmind............
Master your Mind then Master your Trades
  • #222
  • Mar 6, 2017 9:34am Mar 6, 2017 9:34am
Quoting teatime
Daila Range Calculator ;if someone need it i found it at 2 SMA trading thread ,thank you expert 123 https://www.forexfactory.com/attachm...4&d=1488758335
Good find, thank you
  • #223
  • Mar 6, 2017 9:44am Mar 6, 2017 9:44am
Quoting Masterrmind
AN {image} Observe how price has been pushing up with a number of pullbacks. Do you really think its ideal to short from 7/8 under current conditions? There is some minor rejection at the 7/8 level but not enough to convince me to short it. I would want to see a big rotation type candle similar to a bearish engulfing candle before I got interested. I would not even be interested unless some serious bear strength enters the chart then I'll reassess. To top it off the PA is currently at a snails pace which is another reason to avoid it. If you really...
AN

Attached Image


Slowly looking like it wants to drop.

But will it?

In any case its time for rest for me.

Back at it again tomorrow.

Masterrmind...........
Master your Mind then Master your Trades
  • #224
  • Mar 6, 2017 9:55am Mar 6, 2017 9:55am
Some good analysis coming out on this thread.

In regards to currency strength. I've been using the csDash indicator. Fantastic so far. Anyone familiar with it?
If looking at M15 on the charts..
What timeframe do we want the currency dash to calculate on?
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File Type: ex4 csDash.ex4   127 KB | 444 downloads
  • #225
  • Mar 6, 2017 10:44am Mar 6, 2017 10:44am
Didn't really get to trade today bc of school, so kind of just watching price at the moment. I think something important to note, especially for those scalping lower time frames like myself, is to be careful when your 1 minute trades are not in the direction of the 5 and 15 minute trades. You decrease profitability like that as shown on this potential EURUSD trade. The M1 is at the -1/8 level but hardly bounces because as you can see the 15 minute is not near any significant level to bounce off of.

I'm usually not an advocate for trading with the daily since I don't believe that provides any advantage for minute 1 trading, but if your M1 trades are against the 5 and 15 minute trades, you are likely just trading a retracement that probably won't produce as much profit as fast. The best M1 trades either trade back into the direction of the 5 and 15, or are in line with the 5 and 15 minute levels, meaning all the time frames are signalling a bounce. While these are a lot less trade set ups, you really want to avoid those trades that burst right through your level, and continue with the higher trend.
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  • #226
  • Mar 6, 2017 2:03pm Mar 6, 2017 2:03pm
watchlist : DAX is creating a big bearish pattern
weekly chart
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don´t follow me,you will loose your moneyy
  • #227
  • Mar 6, 2017 2:23pm Mar 6, 2017 2:23pm
Quoting teatime
watchlist : DAX is creating a big bearish pattern weekly chart {image}
Hello teatime, which indicator is displaying the butterfly? Thank you.
  • #228
  • Mar 6, 2017 2:39pm Mar 6, 2017 2:39pm
Quoting matrixx
{quote} Hello teatime, which indicator is displaying the butterfly? Thank you.
here i have search pattern indi :
https://www.forexfactory.com/attachm...5&d=1355050916
don´t follow me,you will loose your moneyy
  • #229
  • Mar 6, 2017 3:07pm Mar 6, 2017 3:07pm
Quoting teatime
{quote} here i have search pattern indi : https://www.forexfactory.com/attachm...5&d=1355050916
Thank you teatime
  • #230
  • Edited 4:16pm Mar 6, 2017 3:20pm | Edited 4:16pm
NZDCAD, is heading to the -1/8.... Go long for the reversal?

@Masterrmind When looking at Daily or Weekly timeframes, what settings should we use for MurrayLines??
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  • #231
  • Mar 6, 2017 4:26pm Mar 6, 2017 4:26pm
Quoting johnsmith2nd
NZDCAD, is heading to the -1/8.... Go long for the reversal? @Masterrmind When looking at Daily or Weekly timeframes, what settings should we use for MurrayLines?? {image}

Hi Johnsmith,

P = 64 for all TFs
  • #232
  • Mar 6, 2017 4:43pm Mar 6, 2017 4:43pm
Help! how do i do it on MT4? i downloaded everything
  • #233
  • Mar 6, 2017 4:52pm Mar 6, 2017 4:52pm
Quoting stevepatt
{quote} Hi Johnsmith, P = 64 for all TFs
Okay thanks, and what about the MMPeriod? At the minute it's at 240.
  • #234
  • Mar 6, 2017 4:55pm Mar 6, 2017 4:55pm
Quoting larie
Help! how do i do it on MT4? i downloaded everything
Inserted Video


I suggest you read thread from start. If you can't load indicators at this stage, you're best off spending some time learning about how to install them, how to use MT4 etc before delving into the depths of price action, murrey math, consolidation and harmonics...
  • #235
  • Mar 6, 2017 7:04pm Mar 6, 2017 7:04pm
how do i install the quantum , spread and the symbol changer?
i have already install the quantum london trading EA and the indicator.
Does the EA does auto trading?
  • #236
  • Mar 6, 2017 8:26pm Mar 6, 2017 8:26pm
Quoting Masterrmind
{quote} AN {image} Slowly looking like it wants to drop. But will it? In any case its time for rest for me. Back at it again tomorrow. Masterrmind...........
AN

And here is what happened .....

M15
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H4
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Notice that the 7/8 level from yesterday is now showing as 6/8 when applying it today.

Masterrmind............
Master your Mind then Master your Trades
  • #237
  • Mar 6, 2017 8:49pm Mar 6, 2017 8:49pm
GA [M15; Observation Mode]

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Cash rate on the AUD due out soon.

Masterrmind............
Master your Mind then Master your Trades
  • #238
  • Mar 6, 2017 9:31pm Mar 6, 2017 9:31pm
Quoting Masterrmind
GA [M15; Observation Mode] {image} Cash rate on the AUD due out soon. Masterrmind............
GA - update

Attached Image


Data released was as expected so no real surprises for the market (up and down volatilty expected over the short term followed by settling)

Observation only at this stage.

Masterrmind..........
Master your Mind then Master your Trades
  • #239
  • Mar 6, 2017 9:57pm Mar 6, 2017 9:57pm
Quoting vgyuszko
Murrey Math and Quantum Method My idea find the best entry point. This helps Murrey Math levels.View where its reverse points,levels. The Quantum indicator I use to signals. https://www.youtube.com/watch?v=lIZXMzCPngA {file} {file} {file} {file} {file} {file} {file} {file} {file}

indicators is Quantum - Stochastic OB_OS.ex4
your have?
  • #240
  • Mar 6, 2017 10:26pm Mar 6, 2017 10:26pm
Quoting johnsmith2nd
NZDCAD, is heading to the -1/8.... Go long for the reversal? @Masterrmind When looking at Daily or Weekly timeframes, what settings should we use for MurrayLines?? {image}
At this stage I'd use the following but there are many other combinations.

I would also check the instrument its TF and the PA across the chart to make sure the levels actually make some sense.

Note at this stage all with settings of 64 but this can be altered to other Murrey Math alternatives if desired and if suitable:

All with P=64 (I may seek alternatives at a later stage but 64 provides good enough levels for me)
M1; 60 and 240
M5; 60 and 240
M15; 240
M30; 240
H1; 240 and 1440
H4; 1440 and 7200
D1; 7200 and 28800


Recall that:

1. 60 minutes in H1
2. 240 minutes in H4 (4*H1)
3. 1440 minutes in D1 (8*H4)
4. 7200 minutes in W1 (5*D1)
5. 28800 minutes in MN (4*W1)
6. HTF's calculated in a similar manner.

On a given MMPeriod value such as 1440 you can always drop the charts TF down low to observe more of the PA but remember that although the MML gaps will be identical the stops that you apply on a smaller TF may not be appropriate on such a wide gap.

If however, you are able to get into a good trade with a small SL when using the higher MMPeriod settings then keep going because your reward to risk ratio is going to be outstanding.

Hint 1: Usually a smaller TF applies smaller stops and smaller TPs and a higher TF larger stops and larger TPs, the choice is always the traders!
Hint 2: To be in and out of trades on the same day trade with M1, M5 and M15 as any higher TF may have your trades running into the next day!

ps. although I have given some values above please be aware that there are an enormous amount of variations and the sky is the limit meaning at the end of the day a trader needs to find a TF, a P setting and a MMPeriod that they feel comfortable trading since some traders like smaller scalping type trades with small TPs and other traders like larger TPs that play out over more than a day.

Hope this was of some use to you.

Masterrmind............
Master your Mind then Master your Trades
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