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Murrey Math and Quantum Method

  • #621
  • Mar 24, 2017 6:12am Mar 24, 2017 6:12am
Quoting Masterrmind
Current Watch List EURUSD NZDJPY More to come later. EURAUD EURCHF NZDCHF Masterrmind...........
Agreed on the E/U well worth keeping an eye on shame its a Friday
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  • #622
  • Mar 24, 2017 6:16am Mar 24, 2017 6:16am
Quoting OAPDave
{quote} Agreed on the E/U well worth keeping an eye on shame its a Friday {image} {image}
Yes if the idea is for a longer term setup then last trading day of the week is not ideal at all.

Another reason I left the slower pairs alone and hit the EA pair that can move along a bit at times.

Lets see!

Masterrmind...........
Master your Mind then Master your Trades
  • #623
  • Mar 24, 2017 6:28am Mar 24, 2017 6:28am
Quoting Masterrmind
EURAUD Now short. {image} Note 1: Liked the setup on EA otherwise I would have sought to spread the risk by entering additional pairs at reduced lot size. Note 2: If I view another entry as very very favorable then I may apply an entry at 0.5 lots otherwise it will be the 1 trade only today. Masterrmind..........
EA [H4 Chart Structure]

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Never a guarantee that I'm right and hence the reason for the stop!

Masterrmind..........
Master your Mind then Master your Trades
  • #624
  • Mar 24, 2017 6:57am Mar 24, 2017 6:57am
Quoting Masterrmind
EURAUD Now short. {image} Note 1: Liked the setup on EA otherwise I would have sought to spread the risk by entering additional pairs at reduced lot size. Note 2: If I view another entry as very very favorable then I may apply an entry at 0.5 lots otherwise it will be the 1 trade only today. Masterrmind..........
EA - update

Bulls showing some interest.

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I'll be watching the 1.42 handle to see if it gets broken with aggression and if so I may close out the trade for a small loss.

It could just be a retest of the most recent highs so nothing to be worried about just yet.

Observation time!

Masterrmind..........
Master your Mind then Master your Trades
  • #625
  • Mar 24, 2017 8:03am Mar 24, 2017 8:03am
Quoting Masterrmind
{quote} EA - update Bulls showing some interest. {image} I'll be watching the 1.42 handle to see if it gets broken with aggression and if so I may close out the trade for a small loss. It could just be a retest of the most recent highs so nothing to be worried about just yet. Observation time! Masterrmind..........
Out of curiosity, which EA is that? There's been a few versions posted, variants of the QLTs...

Cheers
  • #626
  • Mar 24, 2017 8:28am Mar 24, 2017 8:28am
Quoting Masterrmind
{quote} EA - update Bulls showing some interest. {image} I'll be watching the 1.42 handle to see if it gets broken with aggression and if so I may close out the trade for a small loss. It could just be a retest of the most recent highs so nothing to be worried about just yet. Observation time! Masterrmind..........
EA

+4.9 pips

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PA not very favorable so I closed it out once in profit before it had a chance to attempt a higher push once again.

Not getting caught up in a larger DD trade and being the last trading day of the week is reason enough to close it out based on what PA has shown.

Masterrmind............
Master your Mind then Master your Trades
  • #627
  • Mar 24, 2017 8:32am Mar 24, 2017 8:32am
Quoting johnsmith2nd
{quote} Out of curiosity, which EA is that? There's been a few versions posted, variants of the QLTs... Cheers
Its not a trading Expert for QLT.

I use it to manage the visible and hidden stops and TPs.

Its a trailing Expert and nothing more than that.

Masterrmind..........
Master your Mind then Master your Trades
  • #628
  • Edited 10:31am Mar 24, 2017 10:20am | Edited 10:31am
Quoting Masterrmind
{quote} The best part of the cycle drawing tool is once the starting date is confirmed then you can run it out covering multiple 16, 32, 64 or whatever Trading Frame days your heart desires. Masterrmind...........

gann said each instrument has its own "vibration"


maybe a more advanced "fractal" is needed?
can that thing made into a murrey math type of indicator >>>>

https://www.forexfactory.com/showthr...73#post8397673

https://www.forexfactory.com/showthr...ic#post8397682

there is the code for the obtaining the "vedic" quantum numbers from price

so all that is needed is the code for making the levels, lines like the murrey lines 9or would it be circles?) but based on the rodin fractal

similar to Murrey Math because it is fractals but based on something that is supposedly a naturally occurring fractal
  • #629
  • Mar 25, 2017 3:24am Mar 25, 2017 3:24am
Quoting Masterrmind
Quantum with MML Observation only (I am not trading this setup). {image} Plan is to simply allow it to unfold quietly in the background and see what happens. Whether or not the outcome is favorable does not prove anything one way or the other but it will give me something to think about. It would not suprise me if the AU pair dropped back down to retest the lows again before charging up. Option to simply open Quantum trades between the -1/8 to -2/8 zone which would mean that no entries would be currently open. It should be noted that when price...
What happened to the longer term MML + quantum setup on the AUDUSD M15 pair?

The following chart will provide a clear enough answer.
Initial post is #138 for reference.

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Note 1: MML labels have reset since initial posting.
Note 2: Quantum applied to the initial and final charts was 2000 for entry and exit.
Note 3: If using Q=2000 as an exit TP for every trade opened the TPs had a range from 120 to 200 pips each.
Note 4: SL @ -3/8 MML missed by a sizable distance
Note 5: A pure Quantum cycle could have been traded in this example without any MML considerations whatsoever.
Note 6: However, the MML levels on a H4 and P=64 setting did offer some form of confirmation that price was indeed oversold.
Note 7: Considering HTF MML + Quantum setups might be ideal for those keen on limited chart time and bigger pip counts.

ps. This setup was not traded by the way only observed throughout.
pps. But I will be looking to trade them very very soon.

Masterrmind...........
Master your Mind then Master your Trades
  • #630
  • Mar 25, 2017 3:56am Mar 25, 2017 3:56am
Quoting Masterrmind
{quote} What happened to the longer term MML + quantum setup on the AUDUSD M15 pair? The following chart will provide a clear enough answer. Initial post is #138 for reference. {image} Note 1: MML labels have reset since initial posting. Note 2: Quantum applied to the initial and final charts was 2000 for entry and exit. Note 3: If using Q=2000 as an exit TP for every trade opened the TPs had a range from 120 to 200 pips each. Note 4: SL @ -3/8 MML missed by a sizable distance Note 5: A pure Quantum cycle could have been traded in this example without...
Thank you for all the Charts and effort you are sharing looking to get the best out of Murrey find your posts and ideas top draw
  • #631
  • Mar 25, 2017 4:09am Mar 25, 2017 4:09am
You have indicators? or books on this subject
  • #632
  • Mar 25, 2017 7:24am Mar 25, 2017 7:24am
Quoting OAPDave
{quote} Thank you for all the Charts and effort you are sharing looking to get the best out of Murrey find your posts and ideas top draw
Its a collective effort OAPDave.

Input from all interested parties is what gets the job done.

Masterrmind............
Master your Mind then Master your Trades
  • #633
  • Mar 25, 2017 7:47am Mar 25, 2017 7:47am
Quoting Masterrmind
{quote} What happened to the longer term MML + quantum setup on the AUDUSD M15 pair? The following chart will provide a clear enough answer. Initial post is #138 for reference. {image} Note 1: MML labels have reset since initial posting. Note 2: Quantum applied to the initial and final charts was 2000 for entry and exit. Note 3: If using Q=2000 as an exit TP for every trade opened the TPs had a range from 120 to 200 pips each. Note 4: SL @ -3/8 MML missed by a sizable distance Note 5: A pure Quantum cycle could have been traded in this example without...
Mastermind I may be having a brain dead moment but the way I look at a period of time is as follows, if the look back period is 240min and I wanted to use a 15min chart I would use a MM 16 = 16, 15 min bars in 240min or if I wanted to see it in a 1 min chart view I would use a MM 256 being the nearest MM number to 240 to my way of thinking this keeps both time and price square, sorry if I am way off the mark but it is Saturday and I should be giving my brain a rest but right or wrong made a few bob trading this way but using Wkly, Daily, 60min & 5mins set to MM 256
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  • #634
  • Mar 26, 2017 4:10am Mar 26, 2017 4:10am
Quoting OAPDave
{quote} Mastermind I may be having a brain dead moment but the way I look at a period of time is as follows, if the look back period is 240min and I wanted to use a 15min chart I would use a MM 16 = 16, 15 min bars in 240min or if I wanted to see it in a 1 min chart view I would use a MM 256 being the nearest MM number to 240 to my way of thinking this keeps both time and price square, sorry if I am way off the mark but it is Saturday and I should be giving my brain a rest but right or wrong made a few bob trading this way but using Wkly, Daily,...
What I was trying to say in my last post (633) was that in the Murrey I use XARD777 he as a button marked beginner and if you set it or indeed leave it as default to 0 it will automatically give the Murrey number best fit for the timeframe that you are looking at, so all I do is punch in the period length and the programme does the rest, this way it does not force fit a 64 to all timeframes or conditions, sorry for any confusion with my last post
  • #635
  • Mar 26, 2017 4:51am Mar 26, 2017 4:51am
Quoting OAPDave
{quote} What I was trying to say in my last post (633) was that in the Murrey I use XARD777 he as a button marked beginner and if you set it or indeed leave it as default to 0 it will automatically give the Murrey number best fit for the timeframe that you are looking at, so all I do is punch in the period length and the programme does the rest, this way it does not force fit a 64 to all timeframes or conditions, sorry for any confusion with my last post
Perhaps what might be useful is an historical analysis of the number of times price pushes beyond the extreme MML levels on a given MML setting.

Criteria might include:

1. Events where the +- 2/8 MML extreme levels actually held price.
2. Events where the +- 2/8 MML extreme levels did not hold price.
3. Liklihood of winning reversal setups to at least the next MML level, to the 2nd MML level, to the 3rd MML level, 4/8 etc etc (in the direction of TP).

I wonder if any trader has performed a backtest similar to the above so that some type of confidence in a reversal on a given setting is known.
Ofcourse no amount of backtesting can give full confidence moving forward but it does at least offer a statistical view.

What I would like to know is for example, on the GBPUSD pair what is the probability using an MML setting of 64, H4 that a short or a long trade based on either + or - 2/8 MML level that price will hit the 8/8, 7/8, 6/8 MML or 1/8, 2/8, 3/8 etc

ps. It would be nice to see the calculations in the code (of xard777) that perform the best fit operation ... is it available?

Masterrmind............
Master your Mind then Master your Trades
  • #636
  • Mar 26, 2017 5:17am Mar 26, 2017 5:17am
Or a trader could be patient .....
Wait for a push up high by the bulls ....
Wait for formation of a neat pin bar ...
Then nail a short entry with TP at the next lower MML level which is 7/8 in this case.

Gold shows an example of an easy shorting setup however it is taken from the 8/8 MML on an M15 TF P=64, MMP=240.

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One issue though is actually being present and watching the setup unfold on the chart and then being able to watch multiple setups.

Masterrmind............
Master your Mind then Master your Trades
  • #637
  • Edited 8:16am Mar 26, 2017 8:06am | Edited 8:16am
Quoting Masterrmind
Or a trader could be patient ..... Wait for a push up high by the bulls .... Wait for formation of a neat pin bar ... Then nail a short entry with TP at the next lower MML level which is 7/8 in this case. Gold shows an example of an easy shorting setup however it is taken from the 8/8 MML on an M15 TF P=64, MMP=240. {image} One issue though is actually being present and watching the setup unfold on the chart and then being able to watch multiple setups. Masterrmind............
I have no idea whats happening to match your charts with xard777 I have to use a 512 my 1st chart is letting xard find best fit which turns out to be a 32 and as I say I have to use a 512 to match your chart, because of the length of time spent in the octave the 64 and 32 reads the same with Xard
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  • #638
  • Mar 26, 2017 8:26am Mar 26, 2017 8:26am
Quoting OAPDave
{quote} I have no idea whats happening to match your charts with xard777 I have to use a 512 my 1st chart is letting xard find best fit which turns out to be a 32 and as I say I have to use a 512 to match your chart, because of the length of time spent in the octave the 64 and 32 reads the same with Xard {image} {image} {image}
This chart is just punching a look back period of 64 and letting xard find the best fit
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  • #639
  • Mar 26, 2017 9:58am Mar 26, 2017 9:58am
Quoting OAPDave
{quote} This chart is just punching a look back period of 64 and letting xard find the best fit {image}
I think only low M settings then good just when range its
Find it The Best Entry Points
  • #640
  • Mar 26, 2017 2:49pm Mar 26, 2017 2:49pm
Quoting Masterrmind
{quote} What happened to the longer term MML + quantum setup on the AUDUSD M15 pair? The following chart will provide a clear enough answer. Initial post is #138 for reference. {image} Note 1: MML labels have reset since initial posting. Note 2: Quantum applied to the initial and final charts was 2000 for entry and exit. Note 3: If using Q=2000 as an exit TP for every trade opened the TPs had a range from 120 to 200 pips each. Note 4: SL @ -3/8 MML missed by a sizable distance Note 5: A pure Quantum cycle could have been traded in this example without...
Now these combination look's intresting combination of MM with quantum especially overbought and oversold areas..
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