Carry on Jatayooji - looking forward to more
(or in GenNext parlance - Lagey raho Jatayooji, yeh dil mange more!)
I see both Gann's and Elliotts' method as reflecting the endless cycles of symmetry-assymmetry-back to symmetry as found in Economic cycles (and also elsewhere in nature; some new scientific discoveries might well be based on this).
Both have an element of symmetry in them - Gann's 1:1 slope, Elliots' 3rd wave (the median of 5) - both longest on the time axis and paving the way for the assymetry that follows which eventually gets restored - then depending on Fundamentals either the same cycle is repeated or we have a simillar build up in the opposite direction.
Mapped to the economic cycle (& the Fundamentals thereof) this ought to be the 3rd wave and should also correspond with the 45degree Gann Angle i.e. the 1:1 slope line (with a certain degree of std dev for both); the assymetry is yet to come. (A PE of 23, given the pace of growth, should be hardly repulsive even to the most conservative Fundamental analyst)
But then these are just stray thoughts - know next to nothing of the theories (specially Gann). Maybe when i have more time.
Regards,
Kalyan.[/QUOTE------------------------------------------------------------
Dear Kalyan
The market symmetry or asymmetry is sometimes evident. Gann is simpler than this theory, he limits himself to the repetitive nature of the market cycles only--- which is a fact. Basically his theory which he practised deals with support and resistance levels without the problems of flats, zig zags ,whipsaws. It has a relationship with Time that too makes common sense ,JUST LIKE THE THEORY OF RELATIVITY ... I AM FOND OF SAYING.The derivation of this theory was almost from the thin air by Albert Einstein. The basic axiom being to step into the shoes of the speed of light and then study the time axis.GANN too applied the TIME axis to the PRICE axis.
.........Thus what appears to be a flat or a consolidation is actually a drift down to the lower angle.
.........I have uploaded a book on the "geometry of markets" by Gilmore that complements both Gann & Fibonnachi.
cheers
JATAYOO