ABC Flat to 1155 - 1155 +/- is Both a 78.6% and 61.8% Retrace.
Blogging the markets is very close to being a Chess Commentator attempting to predict the moves of a Kasparov.
Purpose of these charts are to suggest multiple probabilities and scenarios to what this Kasparov may attempt. Thinking the multiple scenarios through, one hopefully deduces situations that may/may not arise therefore not being surprised.
Here is a scenario of measuring the Gartley from the September low and a 78.6% retracement of an ABC pattern to 1155 +/-. If you measure from the October 4 low, 1155 becomes a 61.8% retrace.
Ive mentioned previously that late January is where the Hurst 10/20 week low is due to bottom...Square of 9 mentions the New Moon of January 23.
Bottom line is I will be a very very strong buyer if the SPX can dip to the 1155 into the January Hurst 20 week window. If the SPX dips further to 1120 (another 78.6%), that should be rock bottom gift buy spot.
Purpose of these charts are to suggest multiple probabilities and scenarios to what this Kasparov may attempt. Thinking the multiple scenarios through, one hopefully deduces situations that may/may not arise therefore not being surprised.
Here is a scenario of measuring the Gartley from the September low and a 78.6% retracement of an ABC pattern to 1155 +/-. If you measure from the October 4 low, 1155 becomes a 61.8% retrace.
Ive mentioned previously that late January is where the Hurst 10/20 week low is due to bottom...Square of 9 mentions the New Moon of January 23.
Bottom line is I will be a very very strong buyer if the SPX can dip to the 1155 into the January Hurst 20 week window. If the SPX dips further to 1120 (another 78.6%), that should be rock bottom gift buy spot.
posted by chartblog at
12:10 PM
4 Comments:
Very happy with the Square of 9 December 14 date.
Working like magic. (so far)
Hi Dave, new to your blog. I have always been fascinated by the methods of Gann. Unfortunately this is a secret art where each trader needs to really work hard to reverse engineer Gann's untaught methods. Do you have any suggestions to what is a good place to start learning Gann?
Hello Frank,
Best place to learn Gann in my honest opinion is past issues of Traders World Magazine.
Ill give them a plug since they are only source widely publishing the hidden Gann information....
http://tradersworld.com/archives/index.html
Within the past issues, Chris Kakasuleff and Greg Meadors stand out in the Gann area.
-Dave
Im starting to put some resources in the forum - here is a great article from Kakasuleff
http://gann.su/book/eng/Kakasuleff,%20Chris%20-%20Gann%20and%20the%20Circle.pdf
Thanks Dave. I'll check it out.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home