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To: gonzongo who wrote (860)	1/11/1998 9:05:00 AM
From: Gale A. Thompson	Respond to of 1267

Good morning Andy, "Question- what does Gann use as a retracement base- Some say previous low. Some say use bottom of wave 2 up to top of wave 3.... " I think part of the confusion arises because different ones use Gann's concepts to aid them in their own tools, i.e. Advanced Get. I also do the same sort of thing in MM. But Gann was very specific. He thought/thinks you should get ALL of the data on the security (its entire history) and use the very highest high and the very lowest low for analysis. That each security "vibrates" at its own wavelength and so all of the data was necessary to determine its inherent charateristics. The retracements I posted earlier are obviously not from the very beginning. I used the lowest point of '97 in an annual Murrey Square-in-Time. So these retracement numbers are relatively short term. Below I posted a table that shows retracements from the lowest point (4/4/94) of the data I have available. You will see a 3/8 retracement is at 6530 and a 5/8 retracement is 5328. So we are still well within the "normal" bounds of retracements. 0/8 Retrace 8340.000 Low 3,520.8 1/8 Retrace 7737.600 2/8 Retrace 7135.200 High 8,340.0 3/8 Retrace 6532.800 4/8 Retrace 5930.400 Range 4,819.2 5/8 Retrace 5328.000 6/8 Retrace 4725.600 Waist 5,930.4 7/8 Retrace 4123.200 8/8 Retrace 3520.800 -- Gt --