The importance of time

WD Gann was a huge proponent of time confluences.  He believed time confluences combined with price clusters were the strongest technical signals in the market.  

Here we have a 30 minute chart of the recent spy action.  We see the large wedge that formed, but also fooled us when it didn't break down immediately.  However, we have the lower boundary of the wedge as a price resistance signal.

This is where time signals come into play.  As the wedge's trend-lines met(our time confluence), price essentially topped.  It then continued to make the head and shoulders top which we are currently falling from.

The point is we have to leave our trend-lines on the screen and extended to the right.  They don't have to come from price patterns, they just need to prove their significance with 3-4 touches.

By the way. sorry I wasn't able to point this out ahead of time.  I have too much U.S. education :)