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 |
| 12 August | Four-hours chart of EURUSD. The pair has failed to pass the resistance area formed by the weekly SuperTrend line and the level (6/8). A downward bounce has proved strength of the level and now we are waiting for a deeper drop with the nearest goal at the main level of support and resistance (4/8) | Four-hours chart of GBPUSD. Having failed to gain a foothold above the four-hours SuperTrend line, the pair resumed the downward movement. Now we see the second approach to the local level of support (2/8). Retest of this level may be successful, at least all there is evety chance for that. On th | The four-hours chart of USDJPY . Retest of the reversal level (1/8) did not bring anything good to sellers. Bulls held this level and pushed the price up well enough. This is a good signal of workout of the reversal pattern, upon which we expect growth to the main support and resistance level 10 |
| 11 August | |||
| 10 August | |||
| 09 August | |||
| 08 August |
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