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 |
| 12 Oktober | Four-hours chart of EURUSD. Bears could easily push the level (0/8) and continued the downward movement. The result was a breakdown of the level (-2/8) and Murrey levels got redrafted. The pair has currently stopped at (5/8), which should have no effect on the price. Therefore, the main option is c | The 4 hours' chart of GBPUSD. The pair has forced the local Low at 1.2207 (2/8), but bulls managed to quickly recover the situation, and the price has again returned to 1.2207 (2/8). The main option is continuation of movements within a broad flat range with 1.2207 (2/8) and 1.2451 (3/8) as its bor | The 4hours' chart of USDJPY . Yesterday bulls failed to push through the resistance line (Weekly SuperTrend Line). The pair managed to hold its positions above major support and resistance level (4/8). From this level the price is expected to take another attempt to pass weekly SuperTrend line, whi |
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