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 |
| 05 Junio | 4 hours’ chart of EURUSD. As we expected, the pair was not able to overcome the point 1.1353 (5/8) and has bounced from it. So, by the moment we have received two proofs from three about a further movement of price within horizontal channel (3/8 – 5/8). Bounce of price from the bottom boundary of | Not able to get consolidated above (6/8) 4 hours’ chart of GBPUSD. The price still attempts to get consolidated above (6/8), but fails. Core plan remains the same: decline of the price from current positions to the main level of support and resistance(4/8). COntinuation of ascending movement will be | 4 hours’ chart ofUSDJPY. As we see, there was no significant bounce from the main (8/8) level of resistance. The pair continues to get consolidated near the closest level, thereby increasing chances to break of this point from bottom to top. In this case, the first target will be the point (+1/8), |
| 03 Junio | |||
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| 01 Junio |
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