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 |
| 22 May | 4 hours’ chart of EURUSD. The pair is going through correction but it is still done below the area of concentration of three Super trend lines and the level (4/8), which perform as resistance levels now. Until the pair is based below this area of resistance, our main scenario is decline of the pai | 4 hours’ chart of GBPUSD. The pair has entered overboughtness area again which performs as resistance. That is confirmed by a rather notable bounce from this area. Therefore, a probability of renewal of descending movement is still big. The first target is still an intermediate level of support (6 | 4 hours’ chart ofUSDJPY. We wait when reversal pattern will be shaped and within this framework we expect that price will get down to the main level of support and resistance (4/8). As of now, the only hindrance for this plan is 4 hours’ Super trend line, which renders a rather strong support unde |
| 21 May | |||
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