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PEIX , along with the rest of the ethanol sector, has been on a colossal fall as the price of ethanol drops along with crude. Crude still has not found bottom but ethanol is at a level that has been support in the past but with oil slipping on supply it may not hold. PEIX is nearing a potential level of support. First there is the Fib ret. level 0.618. This level happens to coincide with Lazy Bear's version of Tim West's hidden earning support levels. Finally, there is the 3/1 Gann fan blade. This may be a good place to watch for a buy signal on Chris Moody's Gann Swing HL V2 indicator. Also, I have added Chris's ULT RSI MTF indicator to the bottom of the chart. So, the big question is when will we get that buy signal? My guess is when the daily blue RSI crosses the white midline.
Yo, just seen that you are also use Gann in 10 or higher ;) nice one isn't it?:) i like 7-12 settings, they seem to do more good than bad.
2use 2use
And if you set to 10 - today got a green line :)
$PEIX Also Broke Out of the Wedge and stayed above 3 days, keeping with my 3 day rule
$PEIX Inverse Head and lil teeny Shoulders On Ethanol Commodity
Price V Shaped Recovery :D … …
No way! Was doing the same thing for PEIX based on your earlier chart with the same GannSwing and momentum :D team_high_five :D
+1 Reply
:- )) I started to do the same but left the forks off. Chart was messy enough and besides it seems Dr Andrews had a problem with Gann. I also wanted to highlight the relationship between RSI and Gann H/L pivot .
2use littleriver
Yeah, you havent seen my standard setup for charts - i barely see the candles. But do you tweak the GannSwing to each chart? It seems to be working quite differenly for various companies and may miss places i would actually call myself for action.
Still getting used to it . I like three for early entry but many false signals. This is where having RSI is important. The RSI will tell you when a signal is false early. On the daily, if iRSI crosses the mid line and Gann gives a signal then crosses back, this is a false signal. This is demonstrated not the chart I posted.
littleriver littleriver
last line should read "This is demonstrated on the chart I posted".
littleriver littleriver
This one
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