Thanks, laxey. I appreciate the time and detail you have gone...

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J.S.Mill

1,802 Posts.

107

06/09/20

09:20

Post #: 47119717
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Originally posted by laxey: ↑

Hi J S Mill, The mathematics is based on W D Ganns' commodity and stock trading course which I purchased over 30 years ago,from Lambert and Gann. The low of 2.34 is arrived at by taking the top of 3.88 on 20/01/2 and subtract the range from the low of 3.11 on 25/06/20. The range is 77 points if you subtract the 77 points from the low price of 3.11 you get the price of 2.34. Gann would take the year from 20/1/20 to 20/1/21 and divide it by 8 to get the degrees of time. 273 days from the 20/1/20 is 19/10/20. Now if you take the top of 3,50 on 10/7/20. If you subtract 77 from 3.50 you get 2.73. Gann used the % from tops and bottoms 33% of the top of 3.50 is 2.34. 25% of 3.11 is 2.33. Further 2.34 is a resistance point of Ganns' square of 52, 12 and 9. I would be looking for a low round about 19/10/20 or within 22 days after this date. the next time resistant point would be 45 days and 90 days after 19/10/20. Gann had many rules one of his important rules was to trade with the trend and wait for a confirmation of a change based on an overbalance of time and price before entering the market.Of course the above is not set in stone you have to let the market tell its story. I have all Ganns' 5 books on trading. Gann says that time is most important. The only people making money on this stock would be the shorts following the price down. Most holding this stock would be loosing money which is a shame. I hope the above has answered your question.

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Thanks, laxey. I appreciate the time and detail you have gone to. I have to say that I dont like your conclusion, but my quote at the bottom of my posts has always worked for me.
I agree with the basic idea of following trends. You may not make a fortune, but you're less likely to lose one.

TLS Price at posting: $2.84 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $4.84		Change 0.020(0.41%)		Mkt cap ! $55.10B

Open	High	Low	Value	Volume
$4.85	$4.87	$4.83	$162.4M	33.50M

Buyers (Bids)

No.	Vol.	Price($)
3	45234	$4.84

Sellers (Offers)

Price($)	Vol.	No.
$4.85	1738	2

View Market Depth

No.	Vol.	Price($)
1	1368	4.840
6	127145	4.830
16	10507	4.820
6	31210	4.810
26	58235	4.800

Price($)	Vol.	No.
4.850	1000	1
4.860	81040	5
4.870	159277	12
4.880	538834	18
4.890	274993	11

Last trade - 16.10pm 30/06/2025 (20 minute delay)

TLS (ASX) Chart

Thanks, laxey. I appreciate the time and detail you have gone...

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