more charts...are they useful?

WD Gann, the legendary trader, taught that prices moved within a range which can be sub-divided into eighths, so that prices will want to rebound from an oversold region 0/8 and then reach an overbought region at 8/8 price level before pulling back again. In this case, -1/8, and -2/8 are the fully oversold regions and the +1/8 and +2/8 are the highly overbought regions. And prices do start from fully oversold price levels of -2/8 and -1/8 as well, and may move upwards past the 8/8 to highly overbought price levels of +1/8 and +2/8. When under very strong moves, the trading frame can move up one notch to the higher trading frame as well.

Having said that, let's take a look at the short term chart of POH cast in the Murrey Maths Trading Frame that is designed for the same purpose, and see where we are short term and long term.

SHORT TERM PICTURE

LONG TERM PICTURE



So charts pattern aside, we do get some idea of some price movements of POH by just looking at the movements of its price ranges divided into eighths.

Trade well, trade safe.

dascore