股票期货突破技术分析(英文原版)-第20部分

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he　union。　Add　to　this。the　fact　that　John　L。　Gann　inherited　no　cash　upon　his。father's　passing　—　it　passed　to　his。surviving　wife；　Londi　—　and　you　have　all　the　motive　needed　for　why　the　father　and　son　did　not　see　eye　to　eye。　
The　most　important　question　needing　clarification　is。whether　Gann's。money　trail　can　be　tracked。　It　wasmon　practice　of　high…net…worth　individuals。to　take　funds。out　of　the　United　States　to　avoid　ine　tax；　which　was。staggering　during　the　Depression。　During　this。period　of　high　taxation；　Gann　frequently　flew　to　the　Cayman　Islands。out　of　Miami。　His。lifestyle　substantiated　his。trading　success。as。he　maintained　his。Wall　Street　office　through　the　Great　Depression　and　kept　his。employees。on　a　time…share　basis。throughout　this。difficult　period。　He　was。also　one　of　a　handful　of　businessmen　able　to　own　two　planes　and　retain　a　pilot　during　this。historic。economicntraction。　
Gann's　pilot；　Elinor　Smith；　worked　for　him　for　more　than　twenty　years。　Their　many　flights。included　Gann's。sojourns。to　the　Cayman　Islands。　Elinor　Smith's。fascinating　stories。substantiate　and　clarify　Gann's。transfer　of　funds。out　of　the　United　Suites。　My　interview　with　Elinor　Smith　is。the　most　interesting　I’ve　ever　conducted。　She　represents　the　history　of　aviation。　She　was。the　youngest　professional　pilot；　with　a　pilot’s。license　signed　by　none　other　than　the　father　of　aviation；　Wilbur　Wright。　Gann　and　Elinor　spent　months。preparing　for　her　solo　flight　attempt　to　Rome　from　New　York。City。　Clearly；　Gann　had　hoped　to　find　a　route　by。air　to　Egypt　to　pursue　his。research　（a　connection　that　will　be　explained　more　clearly　in　a　moment）。　Unfortunately；　because　of　the　exorbitant　costs。during　the　deepening　depression；　the　plane　was。eventually　sold；　to　Amelia　Earhart　no　less。　The　lost　opportunity　to　break　Charles。Lindburgh’s。record　for　the　longest　solo　flight　was。Elinor's。greatest　disappointment；　though　at　one　time　she　held　even　aviation　record　within　the　continental　area　of　the　United　States。　Gann　never　forgot　this。and　upon　his。passing；　he　gave　Elinor　a　gift　of　tremendous　value；　the　significance　of　which　she　admitted　was。hard　to　fully　prehend。　Without　even　knowing　it；　she　held　the　key　to　Gann’s。methods。　Some　day　Smith's。full　story　needs。to　be　told；　but　her　greatest　contribution　to　the　followers。of　W。D。　Gann　was。the　old　black。leather　suitcase　secured　by　two　leather　straps；　which　became　a　gift　to　me　after　the　interview。　
To　understand　the　chart　work。of　W。D。　Gann；　one　must　study　the　man。　As。his。obituary　states；　Gann　was。a　32nd　degree　Freemason　of　the　Scottish　Rite　Order。　The　suitcase　Smith　passed　to　me　was。filled　with　the　source　graphics。taught　by　the　Freemasons。that　Gann　applied　to　his。chart　work。　The　teachings。of　the　Freemasons。are　so　pivotal　to　Gann’s。market　analysis。that　he　draws。the　insignia　of　the　Freemasons。on　the　cover　of　his。book。The　Tunnel　Thru　the　Air　（Lambert…Gann　Publishing；　1927）。　The　diving　airplanes。turn　into　set　squares。　The　insignia　itself　is。on　the　bottom　of　the　front　cover　at　an　exact　61。8　percent　ratio　from　the　left　corner。　Gann’s　pool　of　knowledge　from　the　Freemasons　was。the　source　of　his。market　analysis。methodology；　and　the　son　would　have　no　part　of　the　years。of　study　required　to　master　the　principles　and　concepts。　
The　Scottish　Rite　has。a　number　of　various。side　orders。such　as。the　Royal　Arch；　Rose…Croix；　Rosicrucian　Fellowship；　and　Knights。Templar。　The　European　orders。guarded　their　secret　teachings。and　Greater　Mysteries。with　punishment　of　death　should　one　openly　reveal　the　content。　The　teachings。can　be　traced　back　to　the　Egyptian　priests　who　trained　Pythagoras。and　Plato；　from　whom　the　philosophies。of　modern…day　civilization　emerged。　Pythagoras。is。credited　with　the　discovery；　around　580　BC；　of　the　golden　mean　ratio　of　1。618　through　sound　harmonics。　
As。a　32nd　degree　mason；　Gann's。standing　was。only　one　degree　less。than　the　leader　of　multiple　lodges；　and　he　was。bound　by　the　ancient　custom　of　secrecy。　Therefore；　in　order　to　openly　teach　his。market　analysis；　which　draws　on　the　Freemason　teachings；　he　wrote　in　a　veiled　language　and　used　his。son's　work。to　disguise　his。own。　The　student　armed　with　this　background　can　discern　in　his。writings。the　valiant　effort　he　made　to　reveal　all　he　knew。　Without　this。clarification；　the　market　brilliance　of　W。D。　Gann　bees。lost　in　a　tangled　veil　of　mystery　and　confusion。　It　is。ironic。that　the　material　within　Gann's。suitcase　was。passed　into　Smith's。hands。and　then　mine；　because　the　order's。teachings。are　denied　to　women。　
Gann　traveled　to　Egypt　not　only　to　study　the　historical　prices　of　cotton；　but　also—and　primarily—to　further　his。understanding　of　the　ancient　quadrivium。　The　word　is。derived　from　the　Latin　roots　quad　（four）　and　via　（ways；　roads）：　a　crossing　of　four　roads。of　study。　In　medieval　universities；　the　quadrivium　consisted　of　the　four　subjects：　arithmetic；　astronomy；　
geometry；　and　music。　These　disciplines。remain　within　the　body　of　knowledge　passed　on　by　the　Freemason　orders。　Gann’s。market　analysis。incorporates。all　four　disciplines。　
The　subject　of　mask。within　the　quadrivium　was。originally　the　classical　subject　of　harmonics；　in　particular　the　study　of　the　proportions。between　the　musical　intervals。of　a　monochord；　which　can　be　translated　as。the　harmonic。proportions。within　a　range。　In　modern　applications；　the　quadrivium　may　be　considered　the　study　of　number　and　its。relationship　to　physical　space　or　time：　arithmetic。is。pure　number；　geometry　is。number　in　space；　music。is。number　in　time；　and　astronomy　is。number　in　space　and　time。　

Time　Analysis　
Gann　was。a　master　of　confluence　cycle　analysis。　Few　students。of　Gann　realize　the　first　edition　of　his。book。How　to　Make　Profits。trading　in　modities。（W。D。　Gann　&　Son；　Inc。；　1941）　describes　different　charts。than　does。his。revised　1951　edition　（Lambert…Gann　Publishing　pany　Inc。）　in　distribution　today。　There　are　so　few　copies。of　the　1941　edition　that　they　are　hand　corrected。　Gann's。time　analysis。goes。much　further　than　mapping　market　turns。　His。method　mapped　the　social；　economic；　and　geopolitical　cycles。defining　periods。of　prosperity　and　contraction。　In　the　1941　edition；　he　wrote　a　segment　titled　〃Why　Hitler　Will　Lose　the　War〃　about　the　ing　war　with　Germany　before　the　United　States。entered　WWII。　
Gann's。1951　release　of　How　to　Make　Profits。in　modities。not　only　removed　the　mentary　with　his。opinions。on　the　war　but　also　changed　some　of　the　charts。he　used　for　his。illustrations。　Why？　The　charts。he　used　in　the　second　edition　to　replace　those　in　the　first　proved　that　the　same　methods。still　applied　in　different　examples。a　decade　later。　Furthermore；　the　advanced　student　will　discover　the　two　books。together　reveal　his　application　of　sacred　geometry　to　mark。inflection　dates。and　that　there　are　measurable　harmonic。relationships。between　significant　market　turns。　Because　markets。respect　the　mathematics。of　harmonic。frequency　ratios；　it　explains。why　a　market　can　develop　a　perfect　signal　in　momentum　indicators。that　bees。a　failure。　The　signals。that　develop　in　charts。outside　these　key　confluence　points。must　be　ignored　as。they　are　out　of　phase　or　should　be　considered　disharmonic。signals。of　low　probability。　Seeking　confirmation　of　signals。across　different　charting　periods。and　finding　inflection　points。with　target　confluences。in　the　same　chart　all　serve　to　find　the　harmonic。key　the　market　is。respecting　whether　the　trader　is。aware　of　thisncept　of　harmonic。relationships。or　not。　Sadly；　because　of　the　obscure　manner　in　which　Gann　released　his。methodology；　many　of　the　books。in　print　today　fail　to　recognize　these　essential　concepts。that　enhance　many　of　today's。technical　studies。　
Gann's　methods。warn　that　the　years。2008　to　2012　will　be　difficult　ones。　There　will　also　be　an　economicntraction　that　will　be　felt　globally　between　2019　and　2021。　The　cycle　of　bear　markets。is。actually　one　of　the　easier　time　targets。to　uncover。　But　it　takes。discipline　to　master　the　methods。to　detect　precise　target　dates。at　defined　price　levels。　Gann　was。the　master　of　the　conceptual　use　of　confluence　zones。　The　use　of　multiple　Fibonacci　calculations　provided　an　introduction　to　the　formation　of　confluence　targets。　But　Gann's。use　of　confluence　was。far　more　sophisticated　because　his。work。viewed　confluence　as。the　intersection　where　horizontal；　vertical；　and　diagonal　projections　converge。　Horizontal　is。price；　vertical　is。time；　and　diagonal　is。geometric。space。　In　Figure　5。9；　the　3…month　Eurodollar　displays。one　type　of　time　cycle　Gann　used。　It's。called　a　retrograde　cycle。　The　bullet　over　a　price　bar　does。not　mean　a　projected　swing　high；　it　denotes。a　time　target。　To　understand　the　cycle　displayed　in　this。chart；　a　description　of　retrograde　is。required。　

Retrograde　Motion　
The　illustration　in　Figure　5。10　is。a　time…lapse　photograph　of　Mars’s。motion　across。the　sky；　ending　on　July　26；　1997—a　celestial　sphere　as。seen　from　a　fixed　point　on　Earth。　The　constellations。are　drawn　to　offer　a　reference　point。　Such　a　discussion　fits。the　quadrivium’s　study　of　astronomy；　which　is　number　in　space　and　time。　Keep　in　mind　that　this。is。not　astrology；　which　has。subjective　interpretation。　We　are　looking　only　at　the　factual　scientific。cycle　and　its。repeatable　occurrence。　The　National　Astronomical　Space　Administration　（NASA）　Web　site　is。a　gold　mine　of　scientific。and　his