Forex Murrey Math Lines and Forecasts


Murrey Math Lines 22.10.2019 (AUDUSD, NZDUSD)
Murrey Math Lines 22.10.2019 (AUDUSD, NZDUSD)
22.10.2019AUDUSD, “Australian Dollar vs US Dollar”As we can see in the H4 chart, the pair is trading inside the “overbought area”. 
Murrey Math Lines 21.10.2019 (EURUSD, GBPUSD)
Murrey Math Lines 21.10.2019 (EURUSD, GBPUSD)
21.10.2019EURUSD, “Euro vs. US Dollar”As we can see in the H4 chart, EURUSD is trading at 7/8.
Murrey Math Lines 18.10.2019 (EURUSD, GBPUSD)
Murrey Math Lines 18.10.2019 (EURUSD, GBPUSD)
18.10.2019EURUSD, “Euro vs. US Dollar” As we can see in the H4 chart, EURUSD is trading inside the “overbought area”. In this case, the price is expected to b...
Murrey Math Lines 17.10.2019 (USDCHF, GOLD)
Murrey Math Lines 17.10.2019 (USDCHF, GOLD)
17.10.2019USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, USDCHF is moving between 5/8 and 6/8. In this case, the price is expected to break 5/8 and then continue fal...
Murrey Math Lines 16.10.2019 (USDJPY, USDCAD)
Murrey Math Lines 16.10.2019 (USDJPY, USDCAD)
16.10.2019USDJPY, “US Dollar vs. Japanese Yen” In the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing to reach the resistan...
Murrey Math Lines 15.10.2019 (AUDUSD, NZDUSD)
Murrey Math Lines 15.10.2019 (AUDUSD, NZDUSD)
15.10.2019AUDUSD, “Australian Dollar vs US Dollar” In the H4 chart, the pair started skyrocketing earlier, but then stopped close to the resistance at 7/8. In this case, ...
Murrey Math Lines 14.10.2019 (EURUSD, GBPUSD)
Murrey Math Lines 14.10.2019 (EURUSD, GBPUSD)
14.10.2019 EURUSD, “Euro vs. US Dollar”In the H4 chart, EURUSD is trading above 5/8. In this case, the price is expected to test 5/8, rebound from it, and then resume gro...
Murrey Math Lines 11.10.2019 (EURUSD, GBPUSD)
Murrey Math Lines 11.10.2019 (EURUSD, GBPUSD)
11.10.2019EURUSD, “Euro vs. US Dollar” In the H4 chart, EURUSD is still consolidating at 5/8.
Murrey Math Lines 10.10.2019 (USDCHF, GOLD)
Murrey Math Lines 10.10.2019 (USDCHF, GOLD)
10.10.2019USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is still moving upwards. In this case, the price is expected to break 6/8 and then cont...
Murrey Math Lines 09.10.2019 (USDJPY, USDCAD)
Murrey Math Lines 09.10.2019 (USDJPY, USDCAD)
09.10.2019USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing to reac...

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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