Murray lines for binary options
Or multiplication, can't remember which. If you don't want to call it an MM line, call it a Fibonacci line if it makes you happy. Or Gannor Euclid or Pythagoras.
What's in a name? It produces quite a few unnecessary peaks and valleys.
Despite this, it gives you a general idea. Here's a recent chart. If I had gone long at every point the price fell to the magenta pink line, and gone short at point the price rose to the blue line, how many winners and losers would I have had?
Currently stuck in a "bad" trade, short at Plan to exit ator at least Fingers crossed. Even the I think I understand it better now. However, regarding choosing timeframe and its framesize, I am still not too certain.
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While I have been playing around, I found ,for example, lines in 1 min chart with 8 framesize and 1 min chart with 64 framesize is totally different. Now, that is absolutely understandable.
So it just depends on my appetite? Anytime frame shifts whether it's due to time or price I should look for an exit if I have a position on?
Murrey Math is a complex set of support and resistance levels that act more or less the same as pivot points but also they provide some insights on whether the current trend should continue or it should reverse. The Murrey math concept has been developed by T. So, the main assumption is that smart money behaves the same in all markets and hence why different markets have similar characteristics. Defining the murrey math lines The Murrey math is based on observations that were made by WD Gann in the first half of the 20th century.
Apologies if I am asking redundant questions.