No Gann analysis on this site, so I will start with some in this thread. I posted somewhere else that Dow should hold 6968 last week or this. Further analysis shows that Dow must hold 6636-6619. If not we will be looking at Dow 6304. Still have not seen that reversal bar just yet.
I seriously hope this isn't how you actually trade?#! Failed Bottom Call after Failed Bottom Call ... and then saying the market must do something? WTF is that? Not Gann Trading, that's for sure. :eek:
Most Gann traders aren't trading Gann per se. Perhaps at best I'd label them as simplified Baumring traders (twice removed). Most of the courses and books by the present day "experts" are garbage. The Gann debate is a tired horse. Gann's methods are a complex paradox that filter out causal inquiries. You don't need Gann methods to be a successful trader. Newbies and unprofitable traders should stay far, far away. Advanced traders may find useful tools to compliment their methods.
Further analysis shows that Dow must hold 6636-6619. If not we will be looking at Dow 6304. LOL, the Dow MUST hold! but if not then it will go lower. Thanks for the insights.
Analyses are nothing more than decision points. What I provided specifically with numbers you generalized to your level of understanding. Not unususal. It looks like the Dow will hold this weekly level. Will wait for a definite signal to get long.
I've read Gann's books, and many many others on price action in the last 10yrs...anyhow, I live by a simple rule I believe came from Gann. That "a trend cannot change unless a retracement is greater in price and time". This will keep you in a trade. Example the ES this morning: the first retracenent was 3pts, the 2nd 2pts, the 3rd 2.25pts, the 4th 3.75pts(3.75 is a warning). That little run was good for a 7pt trade. BTW: the uptrend continues, 3.75 was bested by 5.25 with ret's of 5 & 3 so far...still in 2nd trade, maybe another 7pts? Also learn a little Wyckoff(re. entry on tests for supply & demand)...
Gann was the original technician. Build in this direction and you cannot fail. You are on the right track.