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.
| 2016 | EURUSD | GBPUSD | USDJPY |
| 05 February | 4-hourly chart EURUSD. The target on the level (8/8) is reached. This is a very strong level which is able to reverse a price trend movement but it is too early to say about it. At the current moment we can see a correctional price pullback from this level. The first target as well as support is th | 4-hourly chart GBPUSD. The pair didn’t manage to break the main support/resistance level (4/8) from the second try. The price bounced down and in the nearest time we can see a strong price pullback with the target in the area of the level (2/8). The additional proof may become the breakthrough of t | 4-hourly chart USDJPY. On the chart we see a change in the Murrey levels, they have narrowed. At the current moment after the breakthrough of the level (2/8), the pair keeps the movement down. The decline target is the main support level (0/8). This variant will be canceled in the case of the break |
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| 01 February |
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