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.
2015 | EURUSD | GBPUSD | USDJPY |
04 September | The four-hours chart of EURUSD. The pair has forced a very strong support area formed by lines of weekly and daily Supertrend and the main support / resistance level (4/8). Now, this area serves as resistance. If the price returns to it, we can expect a new downward wave. As an alternative, you | The four-hours chart of GBPUSD. There has been no significant changes on the chart for the last day. The pair continues to slow decline without pullbacks. Nearest resistance line is the four-hours SuperTrend Line. The target of drop is the main support / resistance level (4/8). Breakdown and con | The four-hours' chart of USDJPY . The pair has almost reached goals on the main support / resistance level (4/8). This is the strongest level in system that is easy to reach. Therefore, we expect a bounce. This option will be canceled in case of breakdown and consolidation of the price below th |
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31 August |