I set the chart scale of 1 bar =5 dollars 5:1
March 9, 2009. Convert that date to price (903.09). Add 3960 to it (360 *11) and that equals 4863.09. I created a Gann fan from the March 9 2009 low. I made a gann fan from the March 23 2020 low (11 years) and I made a gann fan from the Feb 9 2018 Low. The 4:1 angle from the March 2009 low and the 1:1 angle from March 2020 low converge at about 4830, just about 30 points shy of my target of 4863. So, Long until April 26, 2022, then a reversal. As a check, I used a fibonacci retracement, from the March 2009 low to my target price of 4863 and the levels appear to line up with other support and resistance that have been observed in the bull run.
Don't rely on this, its a idea, not advice. I have no idea if it is correct, or incorrect. Gann had these out the world wacky ideas, that worked. This idea is meant to learn. GLTA!!
March 9, 2009. Convert that date to price (903.09). Add 3960 to it (360 *11) and that equals 4863.09. I created a Gann fan from the March 9 2009 low. I made a gann fan from the March 23 2020 low (11 years) and I made a gann fan from the Feb 9 2018 Low. The 4:1 angle from the March 2009 low and the 1:1 angle from March 2020 low converge at about 4830, just about 30 points shy of my target of 4863. So, Long until April 26, 2022, then a reversal. As a check, I used a fibonacci retracement, from the March 2009 low to my target price of 4863 and the levels appear to line up with other support and resistance that have been observed in the bull run.
Don't rely on this, its a idea, not advice. I have no idea if it is correct, or incorrect. Gann had these out the world wacky ideas, that worked. This idea is meant to learn. GLTA!!
Comment:
Updated to display geometric convergence of Gann Fan angles
Comment:
Interesting sidebar note, the date April 26, 2022, when converted to price is 2204.26, which is only 15 points off the 2020 March low. Hmmmmm
Comment:
March 26, 2021
Head wrapping around time...Use the date of the melt up
and convert it to price, 2109.02 add (5*360=1800) =3909.02,
then subtract the remainder of the time left to the reversal
date of April 26, 2022 ,the reversal
divided by the remainder of the year
(Sept -End of April is 8 months)
convert those number of days into a price
(120 and add to 3909.02) = 4029.02 and voila,
target price of melt up start is achieved
Head wrapping around time...Use the date of the melt up
and convert it to price, 2109.02 add (5*360=1800) =3909.02,
then subtract the remainder of the time left to the reversal
date of April 26, 2022 ,the reversal
divided by the remainder of the year
(Sept -End of April is 8 months)
convert those number of days into a price
(120 and add to 3909.02) = 4029.02 and voila,
target price of melt up start is achieved
Comment:
Comment:
Gann lines update, from 2009 to 2020,sequencing down, 4:1, 3:1, 2:1, 1:1