First initial pivot point was chosen at the price 1.585 coz it was the significant starting cycle. I use RSI to represent cycle. In pricipal,Gann lovers use stochastic to denote cycle.
The last Gann box overlap, to represent uptrending and pullback. We can see in last greenbox, price reacted ant 1/1 line. and retrace to 50% which follow Gann theory that says, price always retrace on 1/3 or 2/3 but most of the time on 1/2.
From Gann, we can predict that price will bounce on 0.5 Gann line (last red box). Expectedly, it will comeback and catchup the trending 1/1 line on last green box.
we can expect a price reaction on 24 August and 3 september.
Expectedly, it will exit the last redbox at price 2.56 and continue uptrend to exit last greenbox somewhere around 10 september at price around 2.83.
The last Gann box overlap, to represent uptrending and pullback. We can see in last greenbox, price reacted ant 1/1 line. and retrace to 50% which follow Gann theory that says, price always retrace on 1/3 or 2/3 but most of the time on 1/2.
From Gann, we can predict that price will bounce on 0.5 Gann line (last red box). Expectedly, it will comeback and catchup the trending 1/1 line on last green box.
we can expect a price reaction on 24 August and 3 september.
Expectedly, it will exit the last redbox at price 2.56 and continue uptrend to exit last greenbox somewhere around 10 september at price around 2.83.
Note
i just learned a new knowledge in drawing Gann Box thru my observation on harmonic cycle. Pls refer to my 'idea' on GDB to learn my new discovery.study on this INARI subject to inhormonic cycle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.