I would have posted this in the Brazilians thread, but it was already 19 pages deep. The monthly square of 144 is overbought.
Gann cycle analysis indicates that if this is a bear year, top must be made this month or next. Regards Oddi
Haven't reach my monthly potential yet: 10889 http://www.elitetrader.com/vb/showthread.php?s=&postid=419562&highlight=10889#post419562 "I said in my newsletter there are some potential at least to 10889 on big scale (and more if affinity). 10556 is also on big scale an intermediate level we are consolidating now." Now I don't give any garantee because I'm an intraday trader I don't trade big scale because I don't know the precision and the interaction on these scales as thoroughgly as I know them on intraday scale.
The lowest low of this consolidation is 10415 so that the noise of monthly scale in that case is 10556-10415=139 points (I said 35 points in another thread but that concerns the variation around monthly level during INTRADAY whereas here we don't talk about intraday) and it could have been worse in general as far as I have observed it can be 200 points easily so for sure I prefer intraday scale where the normal noise of my model is 2 points . This noise on monthly scale is due to the volatility of lower scales but lower scales means short term and it is difficult to predict lower scales far in time so it is difficult to estimate very precisely the noise on bigger scale far in advance.
LOL... This thread is going to be funny... oddiduro VS. harrytrader oddiduro - a working esoteric knowledgable Gann enthusiast harrytrader - an engineer who has no idea about Gann (I really wonder if he's ever read any of Gann's material) but claims to have decifered Gann secret (well, if there is any... LOL...)
I wish I could have a discussion with harry, but in 14 months, I have not been able to decipher any of his posts. Maybe if he put up a glossary or something
You are not the only one who can't understand what he is going on about. Is there anyone out there who can provide a simple explanation for those small charts with the two lines? I have looked at a lot of them but still can't make sense of any of them.
There have been explanation in past threads and there are articles and faqs on the site (need to be completed when I will have time) but I prefer that you forget I don't accept any members any more because my purpose is to form managers for hedge funds I will form not to get clients for my model.