Murray Lines Explained: Real Example

This article further illustrates a point about murray lines and here i
present it using a chart from today.So i am not trying to pick some
random chart from history to prove a point. Anyway, attached is the
M15 chart of GU today. You can easily see how the price obeyed the MM
levels to a great extent.

Price made the initial move up to around the green line at 1.5472 and
then fell down piercing through various MM levels stopping for some
time at 1.5411 and then finally at 1.5350, all these levels were
already established MM levels right in the morning.

So, how do you trade these levels ? What would tell us that the price,
when going up, would stop near 1.5472 and when falling down,would stop
at 1.5411 or at 1.5350 ? If you could give this chart to 10 traders,
each would trade it in a different way. Some would take a short at
1.5472 and exit when price drops 30 pips, or wait till it reaches
1.5411 or some would have the guts to wait till 1.5350 and take full
and good profits. Or others may exit half at 1.5411 and the rest at
1.5350. There are so many different ways that you can trade this.

Nothing related to murray levels tells you that the price would stop
at any level. For that, you need to learn and use other techniques,
which i will be explaining in future articles.

murray lines sept 6

murray lines sept 6

By Karthik Subramanian Follow Karthik on Twitter.

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  • DC

    How is this MM lines different from Fibo Retracements?

  • can u explain that please ?

  • well i never said that MM is useful or useless….it all depends on what u r looking for from it and how you make use of it….a hammer can be used to destroy a rock or to make a sculpture depending on whose hand it is in….

  • surer Pat…i will explain pretty soon !!

  • tarantula

    Go to FF and read my posts

  • Darryl

    Wow, Sour Grapes? When I see someone putting it out there, I’m always grateful, whether or not I am in accord with what they are saying. If you have an opposing view, by all means let’s see it.
    And, oh yeah, did you read the last paragraph written in today’s article?
    “Nothing related to murray levels tells you that the price would stop
    at any level. For that, you need to learn and use other techniques,
    which i will be explaining in future articles.”

  • tarantula

    You are completely wrong…I have studied MM a lot, and there are many geometric patterns you can swing whilst holding onto MM. Also a there are strong reversal points on octave shifting u need to pay attention to in order to trade based on MM

  • Patricio A

    That’s the question, one can see the levels and the reactions of the pair in those levels, but how can I know wich level is going to be the reverse point? I’ll be waiting for the rest of the movie, same bat time same bat channel… 🙂