I discovered MML around Dec, 2020 and the trading jorny has been nothing but awesome!
Don't know if you've learnt of it before now but if not, MML is an indicator/strategy founded by the Legendary "Thomas Henning Murrey".
Maybe you should take 5mins away from this read, digest it's concepts and then return.😀
Now, this is an indicator that works magic for all tradable instruments.
But I'd be using the XRP for an example here.
At a time like this when most are anticipating an almost immediate move of this pair to the upside, I and my MML ae waiting patiently for XRP for a test of the 4/8 strong pivot region/zone from where I can buy and hold for as long as I prolly should 😆
N/B---> I said "as long as I prolly should" because I believe that especially in this decade of the 21st century when Cryptos'are becoming a vital part of our lives, they would RISE only....
But like you know it in trading, no rise comes without a fall. LoL.
There are somethings however, that I consider before taking a trade using the MML. Some of them as I presently can remember to put down are:
1. Overall Direction of the Trend (I would only ignore this if the MML changes it's reading opposite of the Trend direction.
For example, XRP is currently on an uptrend and the MML reading for 4/8Strong Pivot is around the 0.78Price...
I would begin taking shorts if this reading for the 4/8 changes to something lower, say, 0.39.
But if it changes instead to 1.17, oh! There we have an uptrend continuation!
Now, This trend change either may be middle or long term)
2. Make sure the 4/8 pivot region coincides with a key level or a Fib Ratio (which it almost always does)☺️
3. Wait for a Price Pattern Formation
PS.-----> Every other MMLine does a good job bouncing/rejecting prices but you'd notice I mostly made ref to the 4/8Strong Pivot because it most often than the others, act as a perfect reversal zone!!!
Maybe you should take 2mins off and check this amazing indicator for yourself!
Welcome back!! Now you agree that the 4/8Strong Pivot is almost magical!!😀😀
Conclusively, I ain't asking that you trash the strategy you prolly have spent years perfecting but just in case the market seems trickish next time (especially for upcoming traders) and you need an extra confirmation about/before your entry, the Murrey Math Line might just be the answer!!
I'd love to know what your thoughts are too!!
Thank you.
#StaySafe
Don't know if you've learnt of it before now but if not, MML is an indicator/strategy founded by the Legendary "Thomas Henning Murrey".
Maybe you should take 5mins away from this read, digest it's concepts and then return.😀
Now, this is an indicator that works magic for all tradable instruments.
But I'd be using the XRP for an example here.
At a time like this when most are anticipating an almost immediate move of this pair to the upside, I and my MML ae waiting patiently for XRP for a test of the 4/8 strong pivot region/zone from where I can buy and hold for as long as I prolly should 😆
N/B---> I said "as long as I prolly should" because I believe that especially in this decade of the 21st century when Cryptos'are becoming a vital part of our lives, they would RISE only....
But like you know it in trading, no rise comes without a fall. LoL.
There are somethings however, that I consider before taking a trade using the MML. Some of them as I presently can remember to put down are:
1. Overall Direction of the Trend (I would only ignore this if the MML changes it's reading opposite of the Trend direction.
For example, XRP is currently on an uptrend and the MML reading for 4/8Strong Pivot is around the 0.78Price...
I would begin taking shorts if this reading for the 4/8 changes to something lower, say, 0.39.
But if it changes instead to 1.17, oh! There we have an uptrend continuation!
Now, This trend change either may be middle or long term)
2. Make sure the 4/8 pivot region coincides with a key level or a Fib Ratio (which it almost always does)☺️
3. Wait for a Price Pattern Formation
PS.-----> Every other MMLine does a good job bouncing/rejecting prices but you'd notice I mostly made ref to the 4/8Strong Pivot because it most often than the others, act as a perfect reversal zone!!!
Maybe you should take 2mins off and check this amazing indicator for yourself!
Welcome back!! Now you agree that the 4/8Strong Pivot is almost magical!!😀😀
Conclusively, I ain't asking that you trash the strategy you prolly have spent years perfecting but just in case the market seems trickish next time (especially for upcoming traders) and you need an extra confirmation about/before your entry, the Murrey Math Line might just be the answer!!
I'd love to know what your thoughts are too!!
Thank you.
#StaySafe