Posted on August 8th, 2008 at 10:45 AM
I've gotten some questions regarding how the Gann angles help traders anticipate potential turns in the market. Using the same exact scale of the Monthly S&P 500 Index chart, we can see last months low come extremely close (approximately 8 points) to the 2 X 1 Gann Angle.
This support level gave a signal to potentially expect some volatile action. For the better part of July and the beginning of August, the volatility has at the forefront of the Senior Indexes.
Trade Smart
~Duane Gott
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