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Murrey Math and Quantum Method

  • #301
  • Mar 7, 2017 7:02pm Mar 7, 2017 7:02pm
Silver M15 TF

Worth a look.

Masterrmind............
Master your Mind then Master your Trades
  • #302
  • Mar 7, 2017 8:54pm Mar 7, 2017 8:54pm
Quoting rnsfrd
Before this thread I used to scalp trendline with confluence of Support and Resistance and pivots. That was a very powerful strategy, and high probability confluence set ups with trend lines resulted with fast and very profitable trades. Seeing as how profitable the Murray Lines can be I imagine combining them with trendlines would be good too. The upside to this is that I only check every couple hours to see how close to the trendline price is, see if there are any levels close to the trendline and set my price alerts. The downside is that there...
No doubt trendlines can be very useful.

I tend to use them as a guide in the first place and then certainly check for confluence of other trading factors.

The trendline hour setting you apply appears to be 24 hours.

On my M15 chart I'm setting 72 hours (3 days) but there are multiple possible combinations.

Any idea that adds to the possibility of more profitable trading is always a great idea.

Masterrmind............
Master your Mind then Master your Trades
  • #303
  • Mar 7, 2017 9:00pm Mar 7, 2017 9:00pm
I also want to start looking into trading the M1 TF looking for smaller TP trades that originate out of the Asian session.

Asian session: M1 and M5 mostly

London session: Open invitation

NY session: Open invitation

To all traders may eventual success be bestowed upon you!

Note: Do not put all your faith in a turning point based purely on trendlines as this is a potential recipe for disaster as breaks of TLs are frequent.

Masterrmind...........
Master your Mind then Master your Trades
  • #304
  • Mar 7, 2017 9:16pm Mar 7, 2017 9:16pm
EURJPY [M15]

Possible long setup 4/8 up to 5/8 MML with T/L insync.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB


Observation only at this stage.

Note: MML setting is 64, MMP is 240 and TL is 72 hours.

ps. If I enter this trade I will post the details.

Masterrmind...........
Master your Mind then Master your Trades
  • #305
  • Mar 7, 2017 9:21pm Mar 7, 2017 9:21pm
Quoting Masterrmind
Silver M15 TF Worth a look. Masterrmind............
Silver

I have not forgotten about it.

Its decided to hit the sleep mode so no immediate trade likely at this stage which is typical for this commodity in the Asian session, the NY session may yield a better entry or even London but lets wait and see.

Masterrmind............
Master your Mind then Master your Trades
  • #306
  • Mar 7, 2017 9:37pm Mar 7, 2017 9:37pm
I will also be looking for setups as follows:

Where the mid T/L intersects an MML level in the sequential direction of the MML grid and the 72 hour trend.

For example,

In the GBPNZD screenshot the 72 hour trend is UP, the next MML sequence is from 7/8 to 8/8 and a bounce off the mid T/L.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 48 KB


By understanding that such an entry carries additional risk the lot applied will be lower than normal and the SL will be tighter as shown.

It goes without saying that a trader needs to be familar with the instrument they plan to trade and to be aware of the time of entry factors (is high impact news coming, is Frankfurt, London or NY about to open )think about increased volatility and how this might affect yout trade especially your SL placement).

Masterrmind............
Master your Mind then Master your Trades
  • #307
  • Mar 7, 2017 9:42pm Mar 7, 2017 9:42pm
Quoting Masterrmind
I will also be looking for setups as follows: Where the mid T/L intersects an MML level in the sequential direction of the MML grid and the 72 hour trend. For example, In the GBPNZD screenshot the 72 hour trend is UP, the next MML sequence is from 7/8 to 8/8 and a bounce off the mid T/L. {image} By understanding that such an entry carries additional risk the lot applied will be lower than normal and the SL will be tighter as shown. It goes without saying that a trader needs to be familar with the instrument they plan to trade and to be aware of...
GN

Now long as a test trade.

Of concern is the 6.6 pip spread at time of entry which is a little nasty.

Note: only 0.25 lots applied in this test trade.

Masterrmind............
Master your Mind then Master your Trades
  • #308
  • Mar 7, 2017 11:02pm Mar 7, 2017 11:02pm
Quoting Masterrmind
EURJPY [M15] Possible long setup 4/8 up to 5/8 MML with T/L insync. {image} Observation only at this stage. Note: MML setting is 64, MMP is 240 and TL is 72 hours. ps. If I enter this trade I will post the details. Masterrmind...........
EJ - observation update

Be aware that when price breaks through the trendline the indicator will repaint at the lower (or higher) level.

This is perhaps ok provided you are aware of it.

Chart now looks like the following:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB


Note: Higher trendline hour settings will now be investigated.

EJ [5 day=120 hour setting]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 47 KB


120 setting produces an upward trending channel but the most recent low for the day is still being used as the lower trendline bound (thats fine).

Note 1: Trendline hour setting is then to be of a discretionary nature and to be set by traders choice.
Note 2: If GN is changed to a 120 hour setting in the trendline indi the mid trendline moves far away leaving the entry rather vulnerable ... hmmm

Masterrmind...........
Master your Mind then Master your Trades
  • #309
  • Mar 7, 2017 11:40pm Mar 7, 2017 11:40pm
Today focused GU GA EN and EC
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 108 KB
Find it The Best Entry Points
  • #310
  • Mar 8, 2017 12:02am Mar 8, 2017 12:02am
WARNING - DO NOT MISS OUT ON TRADES

Here is a reason to keep searching for 'textbook' setups.

Missing them might become frustrating.

A turtle pair EURCHF provided an easy 30 pips by shorting at the 8/8 level back down to 6/8 level.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB


Look at that final bullish runup by the bulls and then the transfer over to the bears for a beauty of a trade.

Really need to keep a watch out for these trades as they represent a high probability reversal trade.

How many other trades are we missing?

ps. I will now be extending the pairs listed in the Dashboard so that I can keep a close watch over them all ... lesson learned!

Masterrmind.............
Master your Mind then Master your Trades
  • #311
  • Mar 8, 2017 12:25am Mar 8, 2017 12:25am
Quoting Masterrmind
WARNING - DO NOT MISS OUT ON TRADES Here is a reason to keep searching for 'textbook' setups. Missing them might become frustrating. A turtle pair EURCHF provided an easy 30 pips by shorting at the 8/8 level back down to 6/8 level. {image} Look at that final bullish runup by the bulls and then the transfer over to the bears for a beauty of a trade. Really need to keep a watch out for these trades as they represent a high probability reversal trade. How many other trades are we missing? ps. I will now be extending the pairs listed in the Dashboard...
Would you say price action is key here or not necessarily? The high bars up to the 8/8 and back down again seems much more susceptible to reverse than a slower sideways market.
Very good post!
No trading today because of work.
  • #312
  • Mar 8, 2017 12:28am Mar 8, 2017 12:28am
Quoting rnsfrd
Before this thread I used to scalp trendline with confluence of Support and Resistance and pivots. That was a very powerful strategy, and high probability confluence set ups with trend lines resulted with fast and very profitable trades. Seeing as how profitable the Murray Lines can be I imagine combining them with trendlines would be good too. The upside to this is that I only check every couple hours to see how close to the trendline price is, see if there are any levels close to the trendline and set my price alerts. The downside is that there...
Thanks for this post. Very helpful. Learning a huge amount from this thread. Would you say price action and currency strength are important factors when looking at confluence trading ?
  • #313
  • Mar 8, 2017 1:42am Mar 8, 2017 1:42am
Quoting rnsfrd
Before this thread I used to scalp trendline with confluence of Support and Resistance and pivots. That was a very powerful strategy, and high probability confluence set ups with trend lines resulted with fast and very profitable trades. Seeing as how profitable the Murray Lines can be I imagine combining them with trendlines would be good too. The upside to this is that I only check every couple hours to see how close to the trendline price is, see if there are any levels close to the trendline and set my price alerts. The downside is that there...
Great Improvisation...
  • #314
  • Mar 8, 2017 2:22am Mar 8, 2017 2:22am
Quoting johnsmith2nd
{quote} Would you say price action is key here or not necessarily? The high bars up to the 8/8 and back down again seems much more susceptible to reverse than a slower sideways market. Very good post! No trading today because of work.
Mastering PA is crucial without a doubt.

Having said that though a combination of factors that add to the probability of a favorable outcome are also needed.

Confluence!

Masterrmind...........
Master your Mind then Master your Trades
  • #315
  • Mar 8, 2017 2:25am Mar 8, 2017 2:25am
Murrey uses Speed Lines and angles http://www.murreymath.com/ click on How it work, Keyboard Functions, Chart example etc etc
  • #316
  • Mar 8, 2017 2:35am Mar 8, 2017 2:35am
Quoting OAPDave
Murrey uses Speed Lines and angles http://www.murreymath.com/ click on How it work, Keyboard Functions, Chart example etc etc

Hi Dave,

Be careful posting commercial content.

Not a problem with me but FF doesn't like it.
  • #317
  • Mar 8, 2017 2:40am Mar 8, 2017 2:40am
Quoting vgyuszko
Today focused GU GA EN and EC {image}
Any particular criteria for selecting pairs for focus?
Practice makes a person perfect
  • #318
  • Mar 8, 2017 2:51am Mar 8, 2017 2:51am
Quoting stevepatt
{quote} Hi Dave, Be careful posting commercial content. Not a problem with me but FF doesn't like it.
My mistake, sorry did not mean to break any rules, thanks for the heads up
  • #319
  • Mar 8, 2017 4:02am Mar 8, 2017 4:02am
UC
DRH = +1/8 near
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 97 KB
Find it The Best Entry Points
  • #320
  • Mar 8, 2017 4:08am Mar 8, 2017 4:08am
Quoting OAPDave
Murrey uses Speed Lines and angles http://www.murreymath.com/ click on How it work, Keyboard Functions, Chart example etc etc
That site has been dead for a long time. I am not sure T H Murrey himself is still living.
If you are good at something, never do it for free--Joker
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