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 |
13 May | Four-hour chart of EURUSD. Bears did not disappoint us. Now the price is nearing support (6/8) again, but at the second attempt, we hope this level will be pushed through and the pair will continue to move down in the medium term. The medium-term goal is (0/8). Regarding the possible alternatives | The four-hours chart of GBPUSD. Bulls have succeeded in their new attempt to gain a foothold above resistance formed by the SuperTrend lines. Drop still remains the main direction. The nearest goal is 1.4282 (5/8). This option will be canceled by consolidation of the price above the four-hours Su | The four-hour chart of USDJPY . With the second approach, bulls failed to break a major support and resistance level (4/8) once again. It is the strongest level in the system, so it is very difficult to pass it. However, now on the local level the situation remains favorable for growth. Main opt |
12 May | |||
11 May | |||
10 May |