Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
However, you are striking a balance between too many levels and not the correct ones.
I think you should make up divisions of 1/3 and 1/6 note them and then see if they strike.
Does CL turn at these points? If so then use them, and discard the power of 2 divisions that are too close to your power of 3 divisions.
You are working with the resonance, or harmony of the move.
Where does it vibrate to (and when)?
Bottom-line is you want to "tune-into" the music of these oscillations that are profitable to you and the time frame (frequency) you are trading. If you only want one trade a day, you may find that the power of 2 works better, and for 5 trades perhaps the power of 3 level works better.
At first be open and check both.
See what history shows
select and choose what it right for you.
Gann tracked each contract on its own, for example Sept soybeans, and over many years. So he knew the high of Sept soybeans each year and applied it to trading Sept soybeans.
(It may be that the contracts for agriculture products have enough volume to trade for most of the year without switching contracts. (He would close out his Sept contracts at the end of Aug and wait out the month of Sept, starting to trade again in October).
For our example the difference is small - 20.20 to 20.09 and probably doesn't matter.
Try working with both and see which gives better results.
--------------
If looking at the more esoteric concepts then the price of the high would/could matter.
So for June it was 114.83 on 2 May and for July 115.27 for that high. (I may write an "aside" on number reduction and there I will explain how it could matter.)
