LOG 0.786 support in CRUDE OIL and COCOA

Originally written in the Wednesday JUN 21 MRI 3D Report,

CRUDE OIL GROUP- CLQ 17 (4253):  (W.D. GANN): Today is 19 trading days down from 52.00. 52×19= 988  Subtract 988 from 52.00 = 42.12 = the square of TIME and PRICE.  Today’s low = 42.05.

TIME: Today is 33a/May04 LOW, 7×7(G)d/APR12 TOP and 120(G)d/55.24 Jan03 TOP

PRICE: LOG 0.786 X AUG03’16-JAN03’17 = 42.18    The 0.796 Fail point below 42.03 wasn’t violated.

BUY 1 CLN MKT (currently 42.58)/ SELL 1 CLN 41.99 STOP GTC 

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Cocoa commentary is added.

Cocoa- CCU 17 (18.43):  In the last 4 full trading days since MRI 3D identified Cocoa wanted to be SHORTED on Friday’s 2080 OPEN (with < $150 per contract RISK) it has collapsed to the current 1840 area- about $2,400 per contract profit.  Now Active Daily CCN 17 has bounced a little on LOG 0.786 support.  Some defensive profits and further tightening of protective GTC STOPS to 1853 is recommended.

Here’s the chart:

 

In closing, let’s mention candlestick charts, while respected, are still arithmeticMRI 3D studies all four separate chart frames, AR, LOG, ACL and LCL for PRICE and closing line frames ACL/ LCL and bar chart frames AR/LOG for TIME.  >70 % of MRI 3D signals originate outside the arithmetic bar chart!

My 40 years experience in futures trading has taught me the 4 most important things:

  1. TIME is as important as PRICE.
  2. It’s vital to study TIME and PRICE in ALL 4 chart frames ACL, LCL, AR and LOG
  3. The best trades risk small to very small amounts compared to potential reward as average win to loss ratio is actually more important than just the percentage of winning trades!
  4. The NAME of the chart, as long as it’s reasonably liquid, matters not one bit. What matters is the profits a market shares with those that get to know it well.  I ask, if you met a cool or nice person with an odd name would you shun them?  Don’t judge a market by its name.  

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