Killer Forex Trading Methods post comments and questions about the course
06/03/2010 07:30:15
Tom Leeson
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http://ta.mql4.com/linestudies/gann_fan
Gann FanLines of Gann Fan are built at different angles from an important base or peak at the price chart. The trend line of 1х1 was considered by Gann the most important. If the price curve is located above this line, it is the indication of the bull market, if it is below this line it is that of the bear market. Gann thought that the ray of 1x1 is a powerful support line when the trend is ascending, and he considered the breaking this line as an important turn signal. Gann emphasized the following nine basic angles, the angle of 1x1 being the most important of all:
- 1х8 — 82.5 degree
- 1х4 — 75 degree
- 1х3 — 71.25 degree
- 1х2 — 63.75 degree
- 1х1 — 45 degree
- 2х1 — 26.25 degree
- 3х1 — 18.75 degree
- 4х1 — 15 degree
- 8х1 — 7.5 degree
The considered ratios of price and time increments to have corresponding angles of slope in degrees, X and Y axes must have the same scales. It means that a unit interval on X axis (i.e., hour, day, week, month) must correspond with the unit interval on Y axis. The simplest method of chart calibration consists in checking the angle of slope of the ray of 1х1: it must make 45 degrees.
Gann noted that each of the above-listed rays can serve as support or resistance depending on the price trend direction. For example, ray of 1x1 is usually the most important support line when the trend is ascending. If prices fall below 1х1 line, it means the trend turns. According to Gann, prices should then sink down to the next trend line (in this case, it is the ray of 2х1). In other words, if one of rays is broken, the price consolidation should be expected to occur near the next ray.
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MicroTrends tom
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02/03/2010 03:50:10
Tom Leeson
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Gan Fann Open Range Trade
Gann Fann Placement at recent low
after a rally
gives us gann fann 8x1 support
This tested and rejected at the open
and we sold off
8x1 rejection
edited by tom on 02/03/2010
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MicroTrends tom
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02/03/2010 03:46:47
Tom Leeson
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Gann Fann used again to measure strength and predict support after a new low and bounce
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MicroTrends tom
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19/02/2010 16:20:41
Tom Leeson
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GANN FANN USED TO
project support and resistance of this bounce off low
1X2 is broken and lower
Tredn Channel
Woodies cci crosses below 0
parabolic bust
bounce at 1X1 - edge of bollinger
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MicroTrends tom
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19/02/2010 16:13:28
Tom Leeson
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Posts: 661
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SOME GANN FANN RULES AND SITUATIONS
edited by tom on 19/02/2010
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MicroTrends tom
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