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Eight Facts about the Murrey Math Line in Forex - Forex Function

Eight Facts about the Murrey Math Line in Forex

Last Update: 20 May,2015
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The Murrey Math Line, also known as the MM Line, is a trading system that experienced traders in the foreign exchange market prefer to rely on. According to them, the factor that makes it dependable is that it adheres to market conditions. Since it can handle all types of equities including bonds, futures, stocks, and options, it is a versatile platform. And, although it does not follow a complex idea, you may still want to join many intermediate forex traders in knowing further details about it.


Here’s a list of facts:


1. By using the system, a common frustration of every forex trader is addressed. It argues that market prices change over time. Also, if a trader could create a stable reference frame, the more effective it becomes.


2. With it, a trader could observe certain preset behaviors regarding price movement. If such behaviors can be identified, the odds of being in the more profitable side of a trade are increased.


3. It was developed in the early to mid 90s by a mathematical genius named T. Henning Murrey who is from Nashville, Tennessee; the concept was discovered while working on theories that revolve around random thinking.


4. It revolves around the idea that all markets in the foreign exchange industry behave in a similar manner. It argues that this can be proven by a concept of re-flexibility, which states a particular market is subject to a constant state of disarray. And, in such position, it follows that the market is looking for equilibrium (i.e. inflexion points and tops & bottoms) and extravagant market behavior.


5. Other traders compare it to a crystal ball since it could forecast profitable results upon proper implementation.


6. It is composed of two chief components: (1) the combination of a series of rules based on Japanese candlesticks patterns and the observations of finance trader, William Delbert Gann, and (2) geometric rules necessary in monitoring price movements.


7. As many mathematical specialists say, it features mathematical challenges that are “elegant in their simplicity”.


8. Its angle measurements are relative to W.D. Gann’s square of price & time; it follows the concept that a coordinate system or a reference frame should be in place for price movements in a technical analysis chart to be measured.


Reference: Tips in this article have been shared by Mr. Johni from AdmiralMarkets.ae


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