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
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.
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
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.
which book are you reading
Not reading any book. Just gleaming bits of info off the net from different web sites associated with the google web search WD Gann.
Looks like a target between 0.69 and 0.70 to me.
Very good idea.
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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