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<pattern-GANN价格时间理论在交易系统里的运用>引用的GANN原著
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CHAPTER 11
MASTER EGG COURSE
Page 240
W. D. GANN
820 S.W. 26TH ROAD
MIAMI 45. FLORIDA
May 4, 1949
[W. D. GANN MASTER EGG COURSE]
I am sending one copy of the Master Even Square Chart for Eggs showing the squares from 2 to 16 at 30 points per unit. One Daily high and low chart on October Eggs for 1949 delivery beginning November 1, 1948 up to date.
Please note the Master Square Chart which starts at 30 and moves on around to where the square ends at 7680. You will find a green ring around 6000 or 60 cents, the extreme high price of December 28, 1920. A ring around 1050 which is closest to the extreme low price of 1037. You will find 15 cents circled in green, this is 1/4 of 60. 20 cents circled in green; this is 1/3 of 60. 30 cents circled in green; this is 1/2 of 60. 45 cents circled in green which is 3/4 of 60. Please note that the small figures beginning at 1 move around the squares, ending at 256 which is the square of 16. These are the figures for timing either in days, weeks or months.
Example: May 3, 1949, October Eggs high 5025. This was on the timing angle of 168, which is 14 years and 169 is the square of 13. Note that the price of 5010 hits the 7/16 point of the circle at 5010, which would make this a resistance and selling level based on the Master Square Chart. See notes and time periods on the right hand of this Master Chart.
I wired Chicago last night that October Eggs was a sure sale today. The reasons were as follows: Based on the angles on the daily high and low chart the angle of 4 x 1, which moves 2- 1/2 points per day from the first top at 4760 made December 6, 1948 crossed at 5020. The 45 degree angle moving up, from the low of 4685 on March 16, 1949 crossed at 5020. The angle of 67-1/2 degrees, which moves up 20 points per day from the low of 4785 on April 18, crossed at 5020 and the angle moving up from 4735 on Feb. 14 crossed at 5005, making 5 important angles coming out at this high point. A sure point for great resistance because the time from the starting of the option was over six months. The time from the first important top on December 6, 1948, was close to 5 months and the angle from this top called the top exactly.
Since receiving [blank] letter stating that the contracts for Eggs were changed on Feb. 1 and that 1 point now equals $1.44, I did some experimenting to adjust angles to the money value because that is very important. I wanted to get something that would work to an angle of 11-1/4 degrees and by multiplying 144 x 8 it gave 1152 or $11.52 profit on 8 points. This would give an angle of 5 x 4 or about 39 degrees, moving up at the rate of 8 points per day, instead of the 45° angle which moves 10 points per day. Page 241 - 2 - May 4, 1949
Years of this research and experience have proved that the first advance from which a reaction runs more than three days will set an angle for an important top later. This rule works on weekly and monthly charts also. After there is a second or third top and when there is a greater decline from the third top an angle from that bottom must call bottoms and tops of the next advance. You will note that on the greatest decline from Jan. 24 to Feb. 8 the price declined to the angle of 8 x 1 from the extreme low of 4485, and the angle of 2 x 1 from the third top called the second and also the last bottom at 4560. From this low of 4560 we start the angle moving up at the rate of 8 points per day. It calls the low for March 2 next it called the top at 4850 on March 30 from which a two day reaction followed, and finally on May 3 this angle in green crossed the first top angle at 5020, on May 3, 1949.
The market closed at the half-way at the range of the day on May 3. May 4 was a signal day. The opening was at 50 cents; the high was 5005; the low for the day was 4980. The market closed at 4985. This was the first day since April 18 that the market had broken the low of the previous day and closed under. The total time from 4560 to 5025, was 58 market days and in view of the fact that the option is over 6 months old a greater reaction can be expected. The 45 degree angle from the last low of 4795 is the most important one to watch for support and a secondary rally. The decline should run at least five days with not more than one-day rally.
Other reasons for the top on May 3 were as follows:
First move up from 4485 to 4760 -- total gain 275 points.
First move down 215 points.
Second move up from 4560 to 4850 -- total gain 290 points.
Second move down 4850 to 4775 -- loss 75 points.
Third move up 4775 to 5025 -- total gain 250 points. This was 25 points less than the first gain and 40 points less than the second gain up.
The greatest time period from Jan. 24 to Feb. 8 was 11 market days. And the last advance from April 18 was 11 market days, therefore, when the market declines more than 11 days it will over balance the greatest time period. When it declines more than 75 points it will over balance the last price declines or space reversal, and indicate lower prices.
Study the Master Chart against previous tops and bottoms and you will see how it confirms the geometrical angles on other charts. Example:
5010 is opposite 180 degrees from 60 cents. 4890 is on a 45 degree angle from 1050 the extreme low price. 4950 is 180 degrees from 45 cents.
From 30 cents, which is half of 60, the 45 degree angle crosses at 48 cents. This is why the market made three bottoms around 48 cents on April 13 to 18. The Master Chart shows the same resistance levels and by using the time period with it you will learn the basic mathematical and geometrical law for market movement.Page42 - 3 - May 4, 1949
By going over back records and carefully studying all the important tops and bottoms you will see the working of the law.
Since the fluctuation of Eggs on the minimum of 5 points, now equals $7.20 which is two circles of 360 degrees, one-half of this is 360 and makes an angle moving at the rate of 2-1/2 points per day very important. The fluctuations will now work better to the circle of 360 degrees. In a few days I will send you another Master Chart showing each 15 degree angle and the resistance levels which will help you to determine resistance and turning points.
Example: The range in fluctuations and the life of the present option of October Eggs is 4485 low and 5025 high, making a range of 540 points. Subtract 360 from 540 and we have the balance of 180. This means that the market had advanced 1-1/2 circles or cycles and was at 180 degree angle on May 3, 1949. The writer sold October Eggs at 5015 on May 3, 1949.
STOP LOSS ORDER -- Following up my wire of last night to sell October Eggs I now advise placing a Stop Loss Order at 5040 and then watch for the opportunity to cover, based on the rules and the angles. Please keep me informed when you act on my advice in order that I can wire you when I see a point where you should cover short and buy.
[unsigned]
[May 4, 1949]page 243
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注：来自“给joy111的《W.d. Gann Master Commodities Course(pdf)》”
[本帖最后由 mzyma1355 于 2008-10-16 18:15 编辑 ]
[本帖最后由 mzyma1355 于 2008-10-16 18:16 编辑 ] |
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