Cocoa is interesting from a Gann perspective.With a high at 3600 it leads us to look for a time cycle 360 degrees (1 year forward) Price is around 2400 so we have travelled 1200 points.There are 12 months in a year. 2400 is 33% down.I am looking for another decline ,to at least 1800.The cycle could be a low but looking at the 3 spike pattern that seems unlikely. I have attempted to draw an arc on the chart,which also suggests acceleration to the downside
Friday, 2 March 2012
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment