Jumping over to Gann’s Angle course, on the last page, GA-32, Gann says: “Figuring $100, or par, as a basis for stock prices and changing these prices to degrees, 12½ = 45-degrees, 25 = 90-degrees, 37½= 135-degrees, 50 = 180-degrees, 62½ = 225-degrees, 75 = 270-degrees, 82½ = 315-degrees, and 100 = 360”. This tiny little paragraph is the basis of the entire Murrey Math Trading Course, which readers of Traders World should be very familiar with since, T.H. Murrey has written numerous articles for the magazine. These numbers are all natural 8th numbers off of the base of 10, 100, 1000, 10000, 100000, etc. The part that is most confusing is balancing this with the time element, but based on the information given by Gann himself it should be obvious that he has already shown us part of the relationship. For example: If shares of XYZ stock moved up 12½ dollars in 45 days, weeks or 45 months then the stock is on the price degree of it’s time angle, that is to say that price and time are equal or balanced. Gann’s example: “When a stock sells at 50 on the 180th day, week or month, it is on the degree of its time angle”. “On February 1, 1915, U.S. Steel made a low at $38, which is closest to a price of $37½, which is 3/8th of 100 and equals 135-degree angle. Steel was 14 years or 168 months old on February 25, 1915, and hit the angle of 135-degrees, which showed that the price of Steel was behind time, but was in a strong position, holding at $38 above the 135-degree angle or the price $37½”. Just to make sure that you understand this information, U.S. Steel would have been balanced or “on the degree of its time angle” at a price of $46 5/8th because $100/ 360-degrees = 0.27777cents per degree and 168 months multiplied by 0.27777 = $46.67 which is closest to $46 or 5/8th in price. Therefore, Steel is $8 5/8th behind time. T.H. Murrey has his time rules based off the “Harvest Moon” but I would stick to W.D. Gann’s time definitions when using this natural 8th system and his plastic overlays as his method has a clear degree relationship to both price and time and also to the fractal structure, which he described in the quote mentioned above.