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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Friday, 19 August 2011

FTSE250 - Gann setup nailed the top

Here is the top in ftse250,showing breakdown from rising wedge.We posted a sell setup sometime ago based on resistance at 12000 and confluence of the 45 and 90 month Gann cycles (see earlier posts).We also showed the bearish doji on the weekly chart on a post on July 22.
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgneiTdg-YcJfSKAKkbdCul9wKHqmu3j5dh1mmNa1Urz0ShHsuZHwaDl6wffcIvs4RwcVluvrHKum-michVnJxnZL8R9Gq8RvOmD5kukSHL1gItlQqdRChjX0MWhhS0YDvGbC0lGhSc1fDQ/s1600/a1.gif
This has been a tough market and rallied much further than I had expected but we finally nailed it, showing the importance of patience and discipline

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