In my last idea I forecast a major low using repeating time and price ranges.
The market found support at the critical 50% of range pressure point and rallied strongly to form a potential double bottom.
Using balancing of time I have forecast dates to watch as pressure points for minor trend changes.
I am predicting the market to fall back to support on the 9th to possibly form a triple bottom.
If this eventuates and the market holds we can expect a 200% of the A-B range.
This gives a price target of $241.
Using Gann's balancing of time, repeating time frames and seasonal time I am forecasting the 15th Feb for this potential setup.
I went short at $147 expecting this minor retest but will reverse and go long if the market presents a signal on the 9th at support level.
Ian - Aussie Gann Trader
The market found support at the critical 50% of range pressure point and rallied strongly to form a potential double bottom.
Using balancing of time I have forecast dates to watch as pressure points for minor trend changes.
I am predicting the market to fall back to support on the 9th to possibly form a triple bottom.
If this eventuates and the market holds we can expect a 200% of the A-B range.
This gives a price target of $241.
Using Gann's balancing of time, repeating time frames and seasonal time I am forecasting the 15th Feb for this potential setup.
I went short at $147 expecting this minor retest but will reverse and go long if the market presents a signal on the 9th at support level.
Ian - Aussie Gann Trader
Note
Here is the Gann square I'm working with. There's quite a lot of resistance at the current price point. The range resistance percentages and Gann angles have been reliable points of support and resistance.Note
Possible head and shoulder pattern forming. If it breaks the neck (blue line) the price should fall to the strong support zone.
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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.