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 |
01 April | Four-hours chart of EUR USD. Bulls are still pulling the price up, contrary to expectations. The situation is very uncertain, taking into the account today's news release, so it is better to stay out of the market. If we consider the situation in terms of the system, the priority is given to growt | Four-hours chart of GBPUSD. The price has failed to retest the level (8/8): bulls were unable to gain a foothold in the overboughtness zone. Now for the second time the price is testing support - the four-hours SuperTrend line. There are more chances to pass this level at the second attempt, and | The four-hours chart of USD JPY . The pair continues to consolidate below the main support and resistance level (4/8). So far, there are no preconditions for the upward reversal. Bears do not allow the price to gain a foothold above the level (4/8). Therefore, we are considering drop to be the ma |
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