Forex Murrey Math Lines and Forecasts


Murrey Math Lines 19.03.2024 (AUDUSD, NZDUSD)
Murrey Math Lines 19.03.2024 (AUDUSD, NZDUSD)
19.03.2024AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes have broken the 200-day Moving Average on H4 and are currently below it, revealing probable development of a downtren...
Murrey Math Lines 18.03.2024 (EURUSD, GBPUSD)
Murrey Math Lines 18.03.2024 (EURUSD, GBPUSD)
18.03.2024EURUSD, “Euro vs US Dollar”EURUSD quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the oversold area. In t...
Murrey Math Lines 15.03.2024 (Brent, S&P 500)
Murrey Math Lines 15.03.2024 (Brent, S&P 500)
15.03.2024BrentBrent quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, the RSI is in the overbought area. As a result, in this...
Murrey Math Lines 14.03.2024 (USDCHF, XAUUSD)
Murrey Math Lines 14.03.2024 (USDCHF, XAUUSD)
14.03.2024USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area on H4, while the RSI is nearing the resistance line. In this situation, a breakout of the 8/8 (0...
Murrey Math Lines 13.03.2024 (USDJPY, USDCAD)
Murrey Math Lines 13.03.2024 (USDJPY, USDCAD)
13.03.2024USDJPY, “US Dollar vs Japanese Yen”USDJPY quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI is testing the resistance level. In ...
Murrey Math Lines 12.03.2024 (AUDUSD, NZDUSD)
Murrey Math Lines 12.03.2024 (AUDUSD, NZDUSD)
12.03.2024AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI has rebounded from the supp...
Murrey Math Lines 11.03.2024 (EURUSD, GBPUSD)
Murrey Math Lines 11.03.2024 (EURUSD, GBPUSD)
11.03.2024EURUSD, “Euro vs US Dollar” EURUSD quotes rebounded from the resistance level at 8/8 (1.0986) on H4, suggesting the potential development of a corrective movement. The RSI ...
Murrey Math Lines 07.03.2024 (USDCHF, XAUUSD)
Murrey Math Lines 07.03.2024 (USDCHF, XAUUSD)
07.03.2024USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area. The RSI is testing the support line. In this situation, a breakout of the 8/8 (0.8789) level is...
Murrey Math Lines 06.03.2024 (USDJPY, USDCAD)
Murrey Math Lines 06.03.2024 (USDJPY, USDCAD)
06.03.2024USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes remain in the overbought area on H4. The RSI has broken the support line. In this situation, the pair is expected to break...
Murrey Math Lines 05.03.2024 (AUDUSD, NZDUSD)
Murrey Math Lines 05.03.2024 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has broken the support...

About Murrey Math Lines

Being rather a new trading indicator, Murrey math lines become more prominent with each day.  Not only can it show supports and resistances, but also helps in determining the trends and trend changes. Using the respective indicator is quite simple, due to its resemblance to pivot points and Fibonacci retracements. Murrey math lines and forecasts were developed based on the research performed by William Gann, and therefore, represent an easy way to realize Gann.

 

Using the Murrey Math Lines

Murrey math lines and forecasts come in pretty handy when striving for the 100% fulfilled Technical Analysis. The great contribution of T. H. Murrey was the development of a system of geometry that can be used to follow market price movements in time.

The indicator includes 9 lines that move parallel to one another. The first line from the bottom (0/8 - oversold) and the last one (8/8 - overbought) are the hardest lines to cross, and when it happens, the chances of the price reversal are pretty high. The normal trading range is considered to be between the lines 3/8 and 5/8. These lines are actually crucial in determining the state of the trading market. If the price stays near the line 5/8 for more than 8-9 days, it is advisable to sell in this zone. When the price is running down below the line 3/8, it will most likely continue falling to the next resistance level.

When the price appears between two lines, the upper one is regarded as resistance and the lower one - as support.

What Should the Trader Be Cautious Of?

Murrey Math lines are basically a set of support and resistance lines and like any such line are unpredictive. This means that while trading with the help of these lines, there's always a risk of price not moving in the direction suggested by Murrey. Therefore, the trading strategy that is based on Murrey math lines better have a good risk management to avoid losing capital.

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