Thomas Murray is a theorist of modern trading who made researches of W. Gann more comprehensible and more applicable in practice. Murrey Levels are efficient in determination of price of almost any financial instrument.
Murrey Levels - this type of market analysis has been demanded by many traders for a long time. Whether you trade shares, currency or futures, Murray Levels perfectly apply to all instruments. Main principle of ML is that all markets move in a similar manner (which means that behavior of crowd determines all markets and thus they have similar characteristics).
Murray Levels are based on discoveries made by William Gann in the first half of XX century. As William Gann performed as an efficient trader, his technique seemed complex and intricate. But Mr. Murray simplified Gann's technique: he created a special geometrical system that describes price movement over time.
Four-hours chart of EURUSD. The downtrend continues. On the second attempt sellers could push major support and resistance level 1.0986 (4/8). This is the signal of continuation of the current downward movement. The next medium-term goal is the level of 1.0864 (2/8). In the short run, the goal for
Four-hour chart GBPUSD. All attempts of buyers to gain a foothold above (2/8) came to nothing. The pair could not consolidate above the four-hours SuperTrend line. Since the level 1.2207 (2/8) was broken, the main option is drop of the pair. New local Low at 1.2085 is going to be updated, then we c
The four-hours chart of USDJPY . The upward movement continues. There are no signs for downward reversal. Therefore, we expect growth with the next target 104.59 (6/8) and the medium-term goal as the level of (8/8). This option will be canceled only if bears manage to push and keep the price below
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.