XJO 0.10% 7,767.5 s&p/asx 200

Hi Seak, Nothing wrong with being pedantic. I am at a loss as to...

  1. 485 Posts.
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    Hi Seak,
    Nothing wrong with being pedantic.
    I am at a loss as to where you get 4700 on the 9/2/2016.

    I have checked my data both day session and sycom and the low for the March 2016 contract was 4644.
    June was 4649 & September 4600. All on the 10th

    I am sticking with 4644 on the 10th.

    As to FOREcasting - you are right it can be difficult to catch the major turns even Gann had some major misses. As you say there are some occasions where the setup is so obvious. The 10/2/2016 was one of them. The first thing a Gann student would be watching are anniversary dates and that was the 28th anniversary of the 1988 low.
    The 10/2/2018 low squared out the 2013 top 821 days and 821 points. Also it was 568 trading days. It also sat on the 127.22% extension of the first big range up from the 3722 low to 1/5/2012. 2009 low to 10/2/2016 was 1533 points in 1752 trading days that = 7/8ths another important fraction.
    Extensions of the first range up 570 points pretty much provided a road map along with the trusty Gann fan at 2.618 points per bar. The 8x1 nailed the first range out then the 4x1 & 3x1 the next 2 higher tops and the 1x1 was bang on the 15/5/2018 top. Balance time from the 2013 top to the 2016 low you get the current high within 2 bars.

    The daily chart has given us a first range down perhaps that is it but if not then we could see 5543 or a little lower to the 1x2 angle at about 5470 around 7-8 August.

    You are probably aware that the SPI ATL 458 / 360 = 1.2722. That ratio is part of SPI DNA.

    Forecasting makes for a very interesting study. Whilst he was renowned for his forecasting, throughout his life Gann consistantly wrote of his mechanical swing method. Trade the swings, double tops & bottoms, 50% and repeating ranges. The importance of the first range out and time counts etc. These are in my opinion far more useful tools than forecasting .. perhaps not as fascinating though.

    It is nice to see another Gannster and thanks for your contribution.
    All the best.
    Woohoo
 
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