Permission Denied in Docker-Compose on Linux [Closed]

As far as I can understand you are using docker's source to install docker-compose and you forgot the second step. Source for complete installation.

As second step states. Apply executable permissions to the binary:

sudo chmod +x /usr/local/bin/docker-compose;

In addition to the comments provided in the question

sudo usermod -aG docker $USER                  # to add myself to docker group
sudo chgrp docker /usr/local/bin/docker-compose     # to give docker-compose to docker group,
sudo chmod 750 /usr/local/bin/docker-compose   # to allow docker group users to execute it

You might want to try running newgrp docker