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 |
19 February | The four-hours chart EURUSD. Pair tried to break through (3/8) level, which is the bottom line of horizontal channel (3/8 – 5/8). Price couldn’t consolidate under this level. It makes the pair growth in range of horizontal channel (3/8 – 5/8) as a main possibility. Trading decisions: buy from | The four-hours chart GBPUSD. Pair has bounced upward from (2/8) level. The price has found resistance on the strongest system’s level (4/8). Pair has bounced down off this level but price could restart rising to (4/8) level. Perhaps, this level could be broken through from the second try. Tradin | The four-hours chart USDJPY. After a long consolidation on the four-hours Supertrend line, the pair has broken it. The nearest support is on (0/8) level. The main possibility is further decrease of the pair to (0/8) level. Trading decisions: sell from the four-hours Supertrend line . The |
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15 February |