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 |
25 February | The four-hours chart EURUSD. Level (2/8) continues to hold price. Price hasn’t go through this level and couldn’t consolidate under it. Price has bounced upward. Price couldn’t break through four-hours Supertrend line so pair rise is inessential. Main possibility is pair decrease. Trading deci | The four-hours chart GBPUSD. Pair has decreased and stood on (2/8) level. Now pair is consolidating on this level and we can expect an uppwaed corrective pullback. First aim for growth is four-hours Supertrend line. From this line we are expecting a downwaed bounce. Trading decisions: sell f | The four-hours chart USDJPY. Pair has decreased but after reaching (-1/8) level price bounced upwards. Price is in oversold area. The main possibility is pair decrease. If the pair consolidates above (0/8) level this possibility will be canceled. Trading decisions: no The four-hours chart |
24 February | |||
22 February |