Articles for: Gann Analysis

I last wrote about CBA:ASX looking at another 50% retracement in price and 50% in time lining up with a Time by Degrees date. We see from Chart 1 that this lined up with an almost 100% repeat of the previous range up and there was also price resistance around this point from the ATH Highs Resistance Card and the 2009 low Lows Resistance card. The combination of all these price pressure points form a price cluster which had us expecting a turn in the market. Trading this run short, however, required use of some of our advanced entry methods.

Elliott Wave, along with Gann analysis occupies a relatively unique position compared to other forms of analysis. Based upon price action and reaction (upward and downward movements) and the time it takes for those price movements to occur, both Gann’s and Elliott’s theories attempt to pick future turning points in the markets. Of course, there are many other elements of analysis, both technical and fundamental which can support those predictions and it is the application of these supporting arguments that is often the difference between successful and unsuccessful traders.