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Thursday, April 25, 2024

Gann Angles on Dow and Gold

Courtesy of Read the Ticker.

gann-angles-on-dow-and-goldGann Angles measure price moves relative to time.



The Dow is moving up the red Gann 1×1 line, so far the recent trend challenge has been over come. As price is near upper green dotted channel Gann angle from Oct 2007 price is now over bought. We can also see the very obvious Elliot 5 wave count from March 2009 lows, and a new Dow high would complete the 5 waves up.



The red line indicator below the Dow price chart is readtheticker.com RTT Flow Index.





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Dow




Gold (GLD) could not get over $130, so a reaction back to minor support at $115 was to be expected.  Support should be found here, and a significant cycle low. August to September 2018 may see gold turn higher.





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gold








Sure fundamentals do matter, and so does market timing (entry, stops and exit), here at readtheticker.com we believe a combination of Gann Angles, Cycles and Wyckoff Logic is the best way to secure better timing than most, after all these methods have been used successfully for 70+ years. With our website you can chart any security in the world.



NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



..“The game of speculation is the most uniformly fascinating game in the world.  But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer.  They will die poor.”…



Jesse Livermore





..”If past history was all there was to the game, the richest people would be librarians”..



Warren Buffett





..”A radical is one who speaks the truth.”..



Charles August Lindbergh Snr



In the short run, the market is a voting machine, but in the long run it is a weighing machine.



Benjamin Graham





..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..



Warren Buffet







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