I am only partly GANN trained but worth noting that it is based on statistical analysis of data: . History repeats - nothing goes up forever . Commodities, stocks etc trade in cycles - the reference in Voltaire's last post identified 6 years & 9 months as the average historical length of bull cycles for many commoditiies. . Half of all trades that fail do so at the 50% retrace level The BHP chart below shows the standard deviation channels & similar principle 'Bollinger Bands' used by chartists to 'confirm' tops / lows etc. It shows that Fridays low was outside SD channels and near to but not yet outside Bollinger Bands. Hope this helps - any feedback welcome.
4YIO - NFA
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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