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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Monday 25 July 2011

GDX Gann Square

I took a look at GDX because of the 144 week cycle in gold.Unsurprisingly the same cycle is evident in GDX.In addition there is a 48 point range.48 is 36 x1.5 and is 0.33x 144. Also 16 is 4 squared and 64 is 8 squared.Clearly the midpoint of the square (where 72 weeks in time hits 24 points in price) was significant.All this tells us to watch for a high at the end of the square.That is not the same as a forecast.We are just using the square to tap into cyclicality as defined by Gann's numbers.As always a reversal is needed to complete the setup.


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