especially the possible failed 5th i had completely
forgotten.
another thing i watch is a few gann time cycles, the sp500 loves
doing 90 calender day cycles. not all the time but more often than
most people would think. you count them off recent highs or lows
and when they appear they can be perfect.
long story short gann divided everything by 3 and by 8 so you
divide 90 days by 3 and by 8 and start counting, 90 / 8 = 11.25
days, 22.5, 33.75,45 and so on. 90 /3 gives 30 and 60.
so from a new top i just watch 11 days down, if you get a high
or low day, then watch 22.5 days, if it hits again and then again
on 30 chances are you are running a 90 cycle. as i said it happens
more often than you think, i never really expect to hit every
division but if you hit the big ones , like 30,45,and 60 you have a
strong chance of a trend change around 90. i never trade this
alone but use it as another indicator.
so the point here is i have been counting from the 1474 high and
there has not been much to hang your hat on at this stage. but it
may be worth counting from the 1470 high oct 5th as well given it
may be the real top,,and that gives mon 19th as 45 days. these 90
cycles do not have to be 90 in one direction, they often split 60
one way and 30 the other, or 45 down and 45 up. so for me, given
all the other oversold indicators, if monday showed a big volume
panic down day,, and i am still in the trade i would exit.
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cheers kalinm and thanks for your thoughts,,,
as promised
Posted by morgan8 on 16th of Nov 2012 at 04:29 am
especially the possible failed 5th i had completely forgotten.
another thing i watch is a few gann time cycles, the sp500 loves doing 90 calender day cycles. not all the time but more often than most people would think. you count them off recent highs or lows and when they appear they can be perfect.
long story short gann divided everything by 3 and by 8 so you divide 90 days by 3 and by 8 and start counting, 90 / 8 = 11.25 days, 22.5, 33.75,45 and so on. 90 /3 gives 30 and 60.
so from a new top i just watch 11 days down, if you get a high or low day, then watch 22.5 days, if it hits again and then again on 30 chances are you are running a 90 cycle. as i said it happens more often than you think, i never really expect to hit every division but if you hit the big ones , like 30,45,and 60 you have a strong chance of a trend change around 90. i never trade this alone but use it as another indicator.
so the point here is i have been counting from the 1474 high and there has not been much to hang your hat on at this stage. but it may be worth counting from the 1470 high oct 5th as well given it may be the real top,,and that gives mon 19th as 45 days. these 90 cycles do not have to be 90 in one direction, they often split 60 one way and 30 the other, or 45 down and 45 up. so for me, given all the other oversold indicators, if monday showed a big volume panic down day,, and i am still in the trade i would exit.