As discussed yesterday in the evening live session in 1H chart, the concept of drawing trendline is depicted in this picture in Daily Time Frame.
Tangent to a circle means slope of that Circle. Now how to draw Tangent. Those who know it, its good, but just for everybody to understand a tangent is a line which touches only a single point of a circle only.
Now, slope is just noting but a trend line. Here, the picture shows tangent as well as the circle.
Further, Why 13 degree tangent? If a line is drawn at 13 degree to a circle as tangent, that is legitimate and Gann analysis starts from there only. He talks of 8X profits because 8x 13 is 104 means 8 parts of 100%
Picture depicts every thing from previous three circles or ellipsis to the current one.
Now, price wise 1902.1 was the crucial point, which was not broken. First resistance is 1915 which has been broken now 1940 is a major hurdle, but seems to be broken. Those who invested please hold your positions in the coming weeks for huge profits.
Trade with proper indicators and risk management. Its only for educational purpose. Check my previous analysis on Gold. Link provided.
Wish you grow, I may follow your steps.
Thank you. Enjoy your week end.
