top of page
Search

BHP

Updated: Jul 16, 2022

BHP could setup as a very good trading opportunity . Looking for Low to come in Monday 18th -/+1 so keep a close watch on this time zone . I have prepared some price calculations outlining two key levels to watch ( with an updated chart at the bottom of the page ) so please scroll down to see the calculations . If we do set up into Low I may look at taking a three month atm call option with a time based stop placed just below the Cycle date low . please see calculations below

The Diagram below breaks down the 2008 swing into its sections and compares it against the current swing . Notice the pitch of trend in 2008 is very similar to the current 2022 pitch of trend and the time counts also balance between both swings which is a strong indication we could be running up against this swing . From the 12th June 2008 we ran up 12 days into the 24th June which balances against the 13 day swing into the 8th June 2022 top and more importantly the 42 day swing down into the 5th Aug 2008 Low balances exactly against the projected 19th July 2022 swing low which I will outline in the notes below . The clues are in the detail but most people are to lazy to make a proper detailed examination of the price and time components across such a long period of time . Gann knew the masses were lazy which is why his work is veiled and coded and he knew the majority of people were not prepared to put in the work to reap the returns . You can have as many technical indicators as you like on a chart but if you cant read the basic market structure with just a bar chart and recognise what Cycle you are running against you have not properly mastered the basic foundation which is form and pattern reading so how can you expect to move onto the Square of Nine and the more complicated aspects of price Forecasting if you cant read basic market structure and conduct proper swing analysis .


In the chart below I will present a price Curve which contains four important turning dates out till September . The first date to watch is the 19th July and if we continue to move down into this point we could be Low so that is the first important Cycle date I am looking at for the moment then if we make Low into this date we should be up till at least the 8th August for counter trend top around a 20 day projected up move . From there we could be down till the 25th Aug for Low which comes in as a strong Cycle date . and then the next date to watch is the 9th Sept which has two intermediate Cycles converging into this date but the present focus is on the 19th July setting up as Low and then up till the 8th August which is the first section of the swing I am concentrating on . If you look at the 2008 swing down into the 5th Aug it measures 22.10% so we are very close to figure at the moment with the current swing down sitting at 21.28% so keep an eye on price and see if we continue to move down into the 19th July for Low and balance against any of these figures .








57 views0 comments

Recent Posts

See All

Are you viewing this material for free ?

Thankyou to all the paid subscribers of recent weeks your support is appreciated but it has come to my attention that there may be past subscribers or members of the public that are able to view and r

SP500 July 1st - 8th Top

Just making a quick note - more calculations and research is required to try and narrow the timeframe down but be careful around this one week time window especially if you are already long and we hav

コメント


Post: Blog2_Post
bottom of page