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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Saturday 26 November 2011

Dow Gann cycles chart

Here is an update on the Gann cycles chart posted on Nov 5 and it turned out to be a good setup. Gann cycles are not a prediction....nobody knows what the market will do next...they provide a window where action can be taken if a reversal occurs...its up to the individual what reversal pattern is the trigger...risk tolerance,time-frame etc. On the daily swing chart we had a triple top...once that was confirmed it was a pretty strong signal to short the market but earlier reversals signals could also have been elected,with close stops.Gann's rule is that fast moves often come off triples and that is what we have seen

we also had a sell signal at the end of October      http://chartramblings.blogspot.com/2011/10/well-we-got-our-sell-signal.html

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