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
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 arithmetic. MRI 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:
- TIME is as important as PRICE.
- It’s vital to study TIME and PRICE in ALL 4 chart frames ACL, LCL, AR and LOG
- 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!
- 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.