Price has runaway like a train. My price target was reached and them some, but a lot earlier than I expected. Now my 32 bar target is a long trade target and perhaps a good area to short? Because 23 bars is another number that showed up quite a bit in the past, I've drawn in a yellow time marker at 23 bars from the top at where there could be a retracement based on the previous number cycles.
The previous 1 hour chart proved me wrong but proved squaring right. I got stopped for a small loss. The squaring of 360 degrees of price and time was the breakout bar to the downside. That was my short opportunity and I missed it. However, anytime "price and time square change is inevitable" - WD Gann.
The next blog entry will show a method that forecast the peaks and valleys in the chart below.
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