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Random article: Murrey levels
In their trading on the Forex market, most part of traders apply various tools, which are able to assist them in decision making. For example, Murray levels have been an instrument applied by traders for a long period of time. Unfortunately, not all traders handle Murray levels properly. Originally, Gann theory (Gann squares) were put on the ground of building the Levels. In the beginning of trading, one puts square on chart. Borders of square will signalize about beginning and end of existing tendency. Murray levels are used by traders on various time-frames. But the most significant levels are still long time-frames. Repeated character of market underlies building of ML, which imply drawing of twelve horizontal lines with each of them serving as an important level. (Pic. 1) Levels of greatest importance are the bottom and upper levels – 0 and 8.
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Popular article: Square 4 (box)
Putting price and time zones on chart under W.D. Gann method is called “squaring”. The box can be built through squaring of both price and time. The best performing square is the square built according to Gann's arithmetic patterns. As per Gann methodology, box is a pattern chart. Those charts are called pattern charts, because for building them Gann takes a certain size along X and Y, size of charts is closely connected with Gann cycles. The most popular pattern charts are “Square 4”, “Square 144” and “Square 360” a full cycle. The number in name of chart means the number of periods as per price and time. There are a few ways of building those charts.
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Forex encyclopedia “Clever FX” is the unique service created by FreshForex to introduce world of Forex to traders. The main purpose is to share knowledge of experienced traders with novice traders in simple and convenient form. Every trader will be able to learn something new here. If you are a professional trader, we invite you to write an article for “Clever FX” and get reward. Let's write Forex history together!
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