Forex Murrey Math Lines and Forecasts


Murrey Math Lines 22.02.2024 (USDCHF, XAUUSD)
Murrey Math Lines 22.02.2024 (USDCHF, XAUUSD)
22.02.2024USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes have breached the 8/8 (0.8789) level on H4, exiting the overbought area. The RSI has broken the support line. In this situa...
Murrey Math Lines 21.02.2024 (USDJPY, USDCAD)
Murrey Math Lines 21.02.2024 (USDJPY, USDCAD)
21.02.2024USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are in the overbought area on H4. The RSI has rebounded from the resistance line. In this situation, a breakout of 8/8 (15...
Murrey Math Lines 20.02.2024 (AUDUSD, NZDUSD)
Murrey Math Lines 20.02.2024 (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 rebounded from the ...
Murrey Math Lines 19.02.2024 (EURUSD, GBPUSD)
Murrey Math Lines 19.02.2024 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar” EURUSD quotes have risen above 0/8 (1.0681), escaping the oversold area. The RSI is testing the resistance line. In this situation, the quotes...
Murrey Math Lines 16.02.2024 (Brent, S&P 500)
Murrey Math Lines 16.02.2024 (Brent, S&P 500)
BrentBrent quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected ...
Murrey Math Lines 15.02.2024 (USDCHF, XAUUSD)
Murrey Math Lines 15.02.2024 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area on H4. The RSI has breached the support line. As a result, in this situation, a downward break...
Murrey Math Lines 14.02.2024 (USDJPY, USDCAD)
Murrey Math Lines 14.02.2024 (USDJPY, USDCAD)
USDJPY, “US Dollar vs Japanese Yen” The USDJPY pair and the RSI on H4 are in their respective overbought areas. In this situation, a test of 8/8 (150.00) is expected, fol...
Murrey Math Lines 13.02.2024 (AUDUSD, NZDUSD)
Murrey Math Lines 13.02.2024 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from th...
Murrey Math Lines 12.02.2024 (EURUSD, GBPUSD)
Murrey Math Lines 12.02.2024 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar” EURUSD quotes have rebounded from the 0/8 (1.0742) level on H4 and started growing. The RSI has risen above the resistance line. In this situa...
Murrey Math Lines 09.02.2024 (Brent, S&P 500)
Murrey Math Lines 09.02.2024 (Brent, S&P 500)
Brent Brent quotes have broken the 200-day Moving Average on H4 and are currently above it, which indicates the probability of an uptrend development. However, the RSI has reached th...

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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