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 |
17 June | Four-hours chart of EURUSD. Bears tried to cross the support (the SuperTrend weekly line) again. This attempt has failed. As a result of a successful counter-attack, bulls retained the level and repel an attack successfully having won almost all back positions lost earlier. To date, the local i | Four-hour chart of GBPUSD. Bears have succeeded to push the price to (-2/8) and as the result, Murray levels were redrafted. To date, the price is clamped in a horizontal channel (3/8 - 5/8). But we dare to suggest this flat movement won't be long. Growth is the main plan with the next target (6/ | The four-hours chart of USDJPY . The nearest support level (2/8) was not reached by the price. However, there is no doubt regarding dominance of sellers. So, decline of the pair is the main plan. Only cross of and consolidation of bulls above the four-hours'Supertrend line will enable continua |
14 June | |||
13 June |