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 |
29 April | Four-hours chart of EURUSD. Meanhile the pair sticks to our expectations. But we need to make adjustments to the medium-term plan. So far, the situation in favor of buyers. Therefore, reversal at (7/8) is now considered by us as an alternative plan. The main plan is the medium-term growth with th | Four-hours chart of GBPUSD. This pair sticks to our expectations, too. Bulls managed to keep the price above the four-hours SuperTrend Line, from where it had resumed the upward movement. Goal at the major level has been reached, but buyers are not going to dwell on this. They will try to break i | The four-hours chart of USDJPY . The pair continues to decline almost without pullbacks. Without a great deal of difficulty, it crossed the key support level, which the pair had tested unsuccessfully several times before. Bullish resistance is completely suppressed and the reversal level (1/8) i |
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25 April |