时间与价格抗性水平

Time and Price Resistance Levels by W.D. GANN(时间与价格抗性水平  作者：江恩)

　　WEEKLY HIGH AND LOW CHART(每周高低图表)

　　The Weekly Chart is one of the most reliable trend indicators that we use. The Weekly Tables for Price and Time Resistance are very valuable and enable you to determine ahead of time the prices at which highs and lows will be made end the time or date when these extreme high or low prices will be reached.

　　周表是我们所用的最可靠的行情指示表之一。价格与时间抗性周表非常有价值，(它)使你能够在高价格与低价格将要结束前或者在极高价格和极低价格日期来临之前做出决策。

　　These Weekly Tables cover periods of 7 days or 1 calendar week. However you do not start to number time periods from January 1 or the 1st day of any month. You begin to count the time periods from the exact dates of any extreme high or low price. You also use the dates of the minor high and low prices both to begin to count time periods from and to get price resistance and determine a change in trend.

　　这种周表以7天，即一日历周时间为一周期。当然你不必从1月1日或者某个月的第一天开始记录时间周期。你应该在出现极高或极低价格的精确日期开始记录时间周期。你也可以以次高(低)价格出现的日期开始记录时间周期并得到价格抗性且判定行情变化。

　　NATURAL SEASONAL TIME PERIODS(自然周期)

　　These periods do not start with the calendar year but start with the Spring Season March 20. The year is divided up into 8 equal parts and also divided into 1/3's which give two more time periods. These Time Periods are as follows:

　　这些周期不是从日历新年开始的而是从每年春天的三月20日开始的。每年被分作8等份，又以1/3再分出2个时间周期(贺刚注释：即10个时间周期)。这些时间周期如下所示：

　　Mar. 20 to May 5 is 1/8 of a year or 46 days

　　June 21 is 1/4 of a year or 91 days

　　July 23 is 1/3 of a year or 121 days

　　Aug. 5 is 3/8 a year or 136 days

　　Sept. 22 is 1/2 of a year or 182 days

　　Nov. 8 is 5/8 of a year or 227 days

　　Nov. 22 is 2/3 of a year or 242 days

　　Dec. 21 is 3/4 of a year or 273 days

　　Feb. 4 is 7/8 of a year or 319 days

　　Mar. 20 is 1 year or 365 calendar days

　　3月20日至5月5日为一年的1/8，即46天

　　6月21日为一年的1/4，即91天

　　7月23日为一年的1/3，即121天

　　8月 5日为一年的3/8，即136天

　　9月22日为一年的1/2，即182天

　　11月 8日为一年的5/8，即227天

　　11月22日为一年的2/3，即242天

　　12月21日为一年的3/4，即273天

　　2月4日为一年的7/8，即319天

　　3月20日为一年， 即365天

　　All of these periods are important to watch for changes in trend. The most important are 1/2 and the end of the season; next important 1/4 and 3/4, and 1/3 and 2/3.

　　所有的这些周期对察看行情变化非常重要。最重要的是1/2和季节末;次重要的是1/4和3/4，1/3和2/3。

　　MID-SEASON POINTS(中期)

　　These are May 5, August 5, November 8 and February 4. By checking over past records of prices, you will see how often highs and lows have occurred during these periods.

　　即5月5日，8月5日，11月8日和2月4日。通过检查过去的价格记录，你将发现或高或低的价格在这些周期如何频繁的出现。

　　TABLES FOR TIME PERIODS AND PRICE RESISTANCE(时间周期与价格抗性表)

　　The Tables for Time Periods and Price Resistance are made up to cover 40 years in the future. You can also use them for 40 years in the past. These Tables measure Price and Time Resistance from 6.5 to 2080. Each period of one year or 52 weeks is shown at the bottom of the Table and the division of the yearly time periods are shown both for the Seasonal and Natural Time Periods and for the proportionate parts of a year starting from the date of any high or low price.

　　所制定的时间周期与价格抗性表贯穿未来40年。你也可以用于过去40年。这些表描述从6.5到2080(贺刚注：2080周，正好40年)的价格与时间抗性。

　　Below we give the Tables showing the Price and Time Periods.

　　价格和时间周期表如下所示：

　　1/8 of year 46 days 6.5 weeks Price 6.5

　　1/4 '' '' 91 days 13 '' '' 13

　　1/3 '' '' 121 days 17 '' '' 17

　　3/8 '' '' 136 days 19.5 '' '' 19.5

　　1/2 '' '' 182 days 26 '' '' 26

　　5/8 '' '' 227 days 32.5 '' '' 32.5

　　2/3 '' '' 242 days 35 '' '' 35

　　3/4 '' '' 273 days 39 '' '' 39

　　7/8 '' '' 319 days 45.5 '' '' 45.5

　　1 '' '' 365 days 52 '' '' 52

　　一年的1/8 46 天 6.5 周 价格 6.5

　　1/4 '' '' 91天 13 '' '' 13

　　1/3 '' '' 121天 17 '' '' 17

　　3/8 '' '' 136天 19.5 '' '' 19.5

　　1/2 '' '' 182天 26 '' '' 26

　　5/8 '' '' 227天 32.5 '' '' 32.5

　　2/3 '' '' 242天 35 '' '' 35

　　3/4 '' '' 273天 39 '' '' 39

　　7/8 '' '' 319天 45.5 '' '' 45.5

　　1 '' '' 365天 52 '' '' 52