Murrey Math Levels is one of the classic approaches to currency market analysis, which is successfully applied to everyday trading processes. Murrey math lines can be used for understanding both short- and long-term outlooks. As a rule, a strategy that involves Murrey math lines includes other types of technical analysis.
Murrey math lines are based on the approach and observation of William Gann, also used for forecasting, but Murrey was able to adapt this system, making it understandable for investors. The Murrey math levels approach is to track the 8 major lines (price levels) that together make up the "Murrey math lines" indicator. Despite the fact that the method of analysis and forecasting according to Murrey math lines is quite complex, experts consider it unique and capable of performing in combination with others. On this page, you will find Murrey math lines analytics from RoboForex experts.
20.07.2011
The price rebounded from daily Super Trend and the 5/8 level during the correction. If the market is able to go back below H4 Super Trend, it will be a signal for down-trend to move to the 0/8 level. Yesterday I opened a sell order, which now is a bit negative. Take Profit is at the 0/8 level, protective stop is higher than daily Super Trend.
19.07.2011
The price was forming some kind of correction during the last several days, which may be a sign of the growth up to the 5/8 level at least. It’s very important how the price is moving near daily Super Trend. If the price breaks is and fixes itself above it, bulls will get their chance.
15.07.2011
Down-trend is still being formed here. The price is being corrected at the 6/8 level, and is supported by H4 Super Trend. The market may test the indicator line, and if the price rebounds from this line, we will see bearish rally again. The target is the 4/8 level.
15.07.2011
Yesterday the price made a strong downward movement, broke the -2/8 level, and the lines were redrawn. The target is still the 0/8 level at the daily chart, the level where Take Profit is. In the near term, we should expect down-trend to continue its movement.
13.07.2011
The price has reached the target 0/8 level and rebounded from it twice, thus indicating the importance of this level. The first target for bulls is the 2/8 level, and a daily Super Trend as well. If the price breaks both of these levels, it will be able to move to higher targets.
13.07.2011
The market resumed its downward movement, as we expected. After the price had broken the -2/8 level, the levels were redrawn. The main target now is the 0/8 level, which may be reached within several days.
12.07.2011
4 hour Super Trend has reached red zone. Judging by the range of the completed correction, the price may fall down to the -2/8 level. If this level is broken, the lines will be redrawn.
08.07.2011
The market is being corrected, and this correction is supported by both Super Trends (daily and 4 Hour). If the market rebounds from indicators lines, there will be a signal for the price to start moving downwards again. The price couldn’t fix itself above the 2/8 level, that’s why the target level is -2/8, where Take Profit is.
