what i have displayed is the weekly chart.
if we draw the gann fans at 2008 bottom.... per rules .... chart has to be 1x1. meaning 1 point = 1 week. we arrive with the 1x2 line right above.
lets do some simple math to give us an exact number
1x2 means : 1 point every 2 weeks, or 50 cents a week.
going back to 2008. there have been 615 weeks.
615 / 2 = 307.5
307.5 plus 67.1 low = 374.6
watch 374.6 as a huge resistance level.
also.... make a note that going forward that line is going to be 50 cents higher....
i dont see a major top happening till mid may 2021, however before that there should be a nice sized correction at the end of dec or start of jan.
if we draw the gann fans at 2008 bottom.... per rules .... chart has to be 1x1. meaning 1 point = 1 week. we arrive with the 1x2 line right above.
lets do some simple math to give us an exact number
1x2 means : 1 point every 2 weeks, or 50 cents a week.
going back to 2008. there have been 615 weeks.
615 / 2 = 307.5
307.5 plus 67.1 low = 374.6
watch 374.6 as a huge resistance level.
also.... make a note that going forward that line is going to be 50 cents higher....
i dont see a major top happening till mid may 2021, however before that there should be a nice sized correction at the end of dec or start of jan.
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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.