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On the way down it is the highest high or the last 3 days
and
on the way up the lowest low of the last 3 days.
This line is from Gann readings - but I think I need to re-read the pages - so my apologies to the late great if I've mucked it up. (He also has other rules 7 day and exhaustion bar {he didn't call it that} so some weekend homework required on my part.
To those who study Gann if you can correct this please do so.
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In any case on the last down move the 3d downtrend line was cut by the green bar of Thursday 10 Oct where you would go long. This is the day following Wed 9 Oct low.
When today is done 3day uptrendline will be the lower of Friday18 Oct 1730.75 or today.
That is cutting it indicates downtrend.
..........
peace, love and joy to you
.........
Can you help answer these questions from other members on NexusFi?
I posted the cycle (days from turns).
So 120 would be a key day as you know (re Gann) to watch for a change. (119.92)
We also have approx 30 days from last peak. (30.75) another important day
The cross of 2 x 1 and 1 x 2 implies a balanced ratio.
I took out video reply - too much background noise.
indicators:
purple SMA24 must peak
blue SMA35 must have a price bar below it. Gann offset must be broken with a price downturn - not sideways price
(I have slid it to the right for the last two days as the price moved sideways.)
i've gone through your hand-noted chart and other charts and I get the basic idea.
if you dont mind sharing: since you are day trading what is your hold period roughly in comparison to your typical multiday trend timeframe...are you trying to capture x number of bars of bar interval chosen to define the trend or chunk of particular 'channel' bounding trend move (perhaps trying to capture the trend move itself) or you trade further zoomed in such that you are capturing part of the swing move within 'trend channel' in direction of of trend channel (i.e. pullback within channel to the channel top or congestion/consolidation breakout in direction of channel)?
questions above are concepts i am exploring as part of my intended strategies...perhaps i am trying to validate my concepts through others...
btw what did you mean by "at 2 by 1 speed" price ramp through Oct 18?
