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From: "Brent" <brente@xxxxxxxxxxxx>
To: <gposnak1@xxxxxxxx>,
<realtraders@xxxxxxxxxxxxxxx>
Subject: Re: [RT] Gann and scaling
Date sent: Sun, 9 Jan 2000 17:55:00 -0700
So what is the significance of 28.5 on a Wheat chart?
If 1/2 and 1/8 are a measurement in inches, the time
scale can be
compresed or expanded. If the chart is squared, that is
another matter.
Really this sort of question is like asking. What have I got
in my hand?
If I said, "what is the signicance of 381 in the dow", how
many could tell
me that that was the high in 1929 before the '29 crash?
Most would say who
cares, but similar questions could be made up for any
subject.
=========================================
The DJIA high in 1929 was 386.10 on 3 Sept.
Squaring highs and lows from the past, both in time and
price is very useful on long term charts. Squares of 540
and 740 in Dec cotton for instance. Or the 1974 low on
the SPX....No problem with scaling if the unit of time and
price are fixed...
Best of wishes in your Gann studies.
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