@Jako8557 I agree, PLS accumulation was evident over the last 8 sessions and show an Elliott Wave 5-wave advance.
The move was a range of ca. 8c so my hunch is we have a short term square out and a 3-wave retrace to the wave 4 zone between 38 and 40 will ensue.
@Lujaal, I use that Gann method that involves price-time squares. Gann considered the squaring of price and time his most important discovery. He found that when you have a square-out, you get a trend change. PLS is an exemplar.
I use just 1 indicator (RSI) to confirm max strength and max weakness price points to confirm the Gann proposition. RSI also helps when counting Elliott waves.
Interesting: both Gann and Elliott had their time in the sun over 80 years ago when charting was done manually.
TA doyenne Dawn Bolton-Smith passed on recently in Sydney - she was a Gann afficionado and began her professional career charting manually. I'm certain she squared out at the top.
RIP Dawn.
