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 |
15 Juli | Four-hours chart of EURUSD. Bulls managed to push (2/8) from the bottom to top, and even to test (3/8). At the local level, the rising dynamics is maintained. It is too early to say whether bulls will be able to cross the key resistance level, now represented by the weekly SuperTrend line. But, i | Four-hours chart of GBPUSD. The pair continues its local upward movement. Bulls were going to storm (3/8), and apparently they will succeed. This is a fairly significant success of bulls, but talking about reversal is too early. The current upward movement is regarded by us as correction. The nex | The four-hours chart of USDJPY . The goal on the main level of support and resistance (4/8) has been reached. It is the strongest level in the system and is usually crossed with pullbacks. In this case the price has already passed quite a long distance with little or without significant pullback |
14 Juli | |||
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11 Juli |