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Chuck:
Gann (and Fibonacci) constructions are aimed at
identifying potential price and time targets. In this sense,
think how one uses a trendline as a area of potential support and
resistance. As you note, some approach Gann (and Fibonacci although to a
lesser degree) from a metaphysical/astrological viewpoint which does not work
for me. The other way is quite systematic (e.g., square of nine) and
is based on a mathematical "roadmap."
In my view, as with any charting technique, Gann stuff
is best use used in conjunction with other tools, including Fibonacci
constructions, and indicators. The confluence of these different
approaches more often than not work quite well. As with variables in a
trading system, it is not uncommon to use different methods for different
markets (not one size fits all). If you look into these techniques, you
will see that many of the tools are related. For example, the 1X1 line in
a Gann Fan (and derivatives such as dynamic Gann lines) is the center line of a
standard pitchfork which in turn leads one to Babson lines and so on.
However, to master these methods will take a bit of effort and access to
appropriate software not unlike what is required to develop a good mechanical
trading system. Many books, Yahoo groups, newsletters, etc. provide a good
starting point from which you can find your way.
Bill
----- Original Message -----
Sent: Friday, March 02, 2007 5:11
PM
Subject: [amibroker] Gann
Squares
>
How the heck do you use these things? I did some cursory research
on
> them (Gann Circles, actually) and the theory seem more
metaphysical
> than scientific, but I'm just curious how they are
used. When I
> select a top and bottom, I end up with a rectangle in
the past. I'm
> not sure how that helps me make trade
decisions. Can somebody
> familiar with these explain? Gann
Fans don't have any significance
> for me either. I'm not sure what
significance the angles have, if any.
>
> Chuck
>
>
>
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