This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Saturday, 22 January 2011
Ftse square in time and price
The Ftse chart Gann cycle is working well so far.Gann said time and price both move in circles,which he measured using the number 360 as a circle is 360 degrees.When a price cycle meets a time cycle they are "square" and a trend change (or correction) occurs.Six months is half a year,or 360 degrees and 1200 points is 1/3 of 3600,or 120 degrees.Effectively I knock off a zero and say the the Ftse moved from 480 to 600,a 25% move.At least that is one of the ways I interpret Gann.It is interesting that once time was up the market struggled for a few days but could not make much headway above 6000 ...the same thing has happened on the Gann square on TNA and is not uncommon...I look at it as a kind of false break in time and price that sucks buyers in at the top of the move.
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