Re: curious-anyone know if the 7-10/Electro/Ronbo *PIC*

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index Read Responses

TFC Commodity Trading Forum

In Response To: Re: curious-anyone know if the 7-10 rule applies t ()

Electro,

Read the post between you and Ronbo on the 7-10 rules. It interested me, so I pulled a Gann book off the shelf and skimmed thru it. He has many rules and observations. I found this one, and was wondering, if you had an opinion on it as it appears to be related to the 7-10 rule. I have watched coffee for a little while and thought it was going to breakdown, but it came roaring back. Had a loosing trade in it, but am still watching once I saw this about the 7-10 rules. If you also think it applies to the 14 day or more rule, chime in and let me know. Including a daily chart of coffee from this site. At the present time its up again. However, who knows how much it can reverse as it is looking pretty strong.

From How To Make Profits in Commodities by W.D. Gann 1951 Revised Up-To-Date Edition page 318.

In a fast advancing market when prices have not broken the lows of a previous day for a period of 7 to 10 days or a period of 14 days or more, the first day that prices break the low of a previous day and close near the low of the day, it is a REVERSE SIGNAL DAY, regardless of whether it is a GAP or a LIMIT DAY, but it is more important for a change in trend when it is a GAP DAY and a LIMIT DAY.