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TFC Commodity Trading Forum

Re: March Nat Gas/In the Handbasket/Ronbo

I came across the Gann 7 day thing years ago and read that it only works 50% of the time. The last two times it did this with Cocoa it failed to do anything twice in a row and the selloff just continued down after a higher high on the 8th day both times. But any price runs up or selloff that does not have a ziz zag pattern where traders get on and off and just goes up only or just goes down only with higher highs and lows or the reverse for a second week in a row will see a sharp correction the other way as a rule of thumb. Just another sign of exhaustion with a correction. The poster Gian seems to have everything written by Gann so I'm sure he could elaborate further on his work. But that was apparently a very small part of Gann's work and methods. But it looks like NG is down once again so far. No need to chase but it does look like a market that is capitulating and will see a snap back soon enough.