A nice pin formed but its counter, against the trend.
A possible ABCD might be completed with equal legs, but might be extended to 1,618.
3/1 connecting June 11 lows with previous and current highs
I'm short and a second position will open if this week's lows break.
Mind your position sizes, above all, its countertrend
My gut instinct telling me not to take it and be patient. But I did it. Classic.
I think you should have calculated your ascending weekly angles from the old 2008 low (0.71853), not the 2010 low. And the current angles at work must be descending from last April's high:
I'm far from being an expert, so I'm not sure we have hit a falling angle this week. I'm not even convinced at all that weekly angles work on this item.
Please do not use this "Gann" tool in your calculations, it's misleading.