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.
| 2015 | EURUSD | GBPUSD | USDJPY |
| 30 April | 4 hours’ chart of EURUSD. Splash of volatility led to redraft of Murrey levels. At present, the price is pulling back from the line of week’s SuperTrend. This is a correctional movement. We shall wait when correction is over on 4 hours’ chart of SuperTrend. This dynamic support level works well on | 4 hours’ chart of GBPUSD. The pair continued its growth and now we witness a rather notable bounce of the quote from the reversal level (7/8). As we know, when the price reverses on this level, the following target for its decline is the main level of support and resistance (4/8). But meanwhile we | At present the pair has entered oversoldness area 4 hours’ chart of USDJPY. After all, the pair has forced the main support level (0/8) and now it turned into its resistance level which retains the price from leaving the oversoldness area. As long as the quote is below (0/8), our main expectation w |
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| 27 April |
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