littleriver

Corn daily Gann Fan with 1x1 channel clones.

CBOT:ZC1!   Corn Futures
629 9 1
This chart was easier to make than expected once i had the weekly done it is more or less a copy with a couple more fans added. After closer examination, corn             prices appears to be moving from the different fan angles to the lines created by the clones. These lines resemble limbs of a tree and act as highways for price movement much like the limbs of a tree act as highways for animals to move about the tree.
So what you expect
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That is the question. I expect corn to continue up with a short term target of 680. We will have to watch how the price reacts at that blue 3/1 line. The candles suggest this is a strong move off the bottom with the engulfing candle. The formation looks to be a reversal inverted head and shoulders. If price can clear all the obstacles, I see a long term positive target of 840's and on the flip side we have a negative target of 520's. My sense is corn is going higher.
snapshot
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I would say there are too many fans. Normally they are two one on a top and one on bottom on the period you want to consider
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I agree. The chart was easier to read before I added those last two fans but it left some of the candles without support. My thoughts were to find every hidden branch of the tree.
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which book are you reading
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Not reading any book. Just gleaming bits of info off the net from different web sites associated with the google web search WD Gann.
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Looks like a target between 0.69 and 0.70 to me.
Very good idea.
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littleriver motleifaul
Thank you. I have to give credit to Gann for the idea and nmike for the cloning instruction. I was conservative with my target but believe yours is certainly within range.
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