Crude - What’s your Angle ?
When you have a solid trading plan like Gann left, and you can understand how to use it.
Angles add a new dimension to your ability to call reasonable turns.
It’s not just the angle but the ability to read the form around the angle. Gann was a mater of this.
What’s the market telling us at the time, remember in hindsight it’s easy, we live in the white space on the right of the chart.
In this case these angles, in conjunction with Ganns other rules like his 7-10 bar rule, and anniversary commentary, could have you short at the last top in October 2021.
7-10 weeks up and 36 months after the 2018 top . The 12 and 24 month anniversaries also gave tradable turns. There’s a lot more information on this chart can you see it?
Knowing this, was the 1x1 monthly angle useful?
The Mechanical System, had you short very close to the top ( 6 days later ) if you were not in the mood to short the top.
28 bars down to the low and another angle means something to a trained Gann Practitioner.
Would you agree it is illuminating when you know what to look for?
So you want to trade Crypto!
The Hottest thing since ‘Sliced Cheese’ is apparently Crypo !
Bitcoin and its’ progeny are all the rage, but beware there is danger in that gold mine.
Two Crypto exchanges Blockchain Global Limited and My Crypto Wallet went belly up last year quietly slipping into the ether ( not Ethereum! ) without so much as a whimper, except for those with their cash sitting in the exchange.
These things can do catastrophic damage to a traders mindset.
These products are great for a time, but chose your vehicle to trade them carefully.
The micro Bitcoin futures contract ( MBT on the CME ) offers a great opportunity and I’ll be taking a look at that in the Supply and Demand letter this year.
I’d suggest if you want to trade these things, rather than on an unregulated exchange you look at a broker offering the cash USD/BTC forex type product or offering the Micro Bitcoin Futures contract.( MBT)
Ohh and Gann works a treat on these things !
May the GoFR be with you.
Happy New Year
Tomorrow is the first day of trading for 2022 , an auspicious day by any means .
I hope you are rested and have reviewed last years trades and made any notes and adjustments to your plans in preparation to take advantage of what I suspect will be a volatile and profitable year.
If you are following me in the Supply and Demand letter you know we had an outstanding return on our markets again in 2021. The forecast we gave in 2019 came to pass with many Workshop attendees taking advantage of that work.
We got very close with this one, but you don’t need pinpoint accuracy if you have a good plan, and without a solid plan, pin point accuracy is useless anyways.
Question is if you “caught the bus” how did you manage it ? and what will Beans do now ?
We have a pretty good idea.
We also traded and Aussie stock CBA for a several hundred % return along with the usual suspects Crude Emini and Silver all helping top up the cash coffers for Christmas .
This year I may take a closer look at Bitcoin. So join me on the inside or just come back here from time to time and I will post the odd chart to tease your mind.
Wishing you all every success in 2022.