how do we apply the rule of "fourth time at a same level" introduced by Mr. W.D. Gann? One of the online source (http://www.solarmatrix.com/wdgann/lessons/LESSON1.htm) shows:
Rule 4: Fourth time at the same level.
Fourth time through a level of support or resistance is powerful and one should go with the direction of the professionals.
When a "level" is diagonal (instead of horizontal), I believe the same rule can be applied. Therefore, if the diagonal line has been respected as a support for three times, it will be important to watch for and follow the direction when it is broken. This is a collective result of the action by professionals.
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