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Metastock establishes a 45 degree angle on the screen. to say it is not a
1x1 on a time price basis is correct. To say it is not a 45 degree line to
price, no matter what the x-y settings are, is incorrect. The rise/run
problem exist under any program I am aware of, unless you go to tedious
manual adjustment. It is dependant upon your data value from each vendor.
No, I am not going to go back to the days of hand drawn charts. The method
used by nearly all programs is close enough. It provides me insight to the
market. I make daily decisions with Gann and Fib in mind. For it to be an
impure implementation, it works for me. I don't have the time to be pure and
don't see that it would make that much difference in the long run.
Now, lionel has always said it didn't work. I would quote from past posts
but I filter his.
I haven't heard your opinions on Gann but I have heard others here. They
seem to miss the better parts of their software, TA, and trading due to
stodgy ideas.
-----Original Message-----
From: Jim Perry <jperry@xxxxxxxxxx>
To: 'Richard Estes' <dick@xxxxxxxxxxxxxxxxx>
Date: Sunday, August 24, 1997 10:17 PM
Subject: RE: Gann's line of death
Well I don't know what you have against Lionel, but I had the same question.
A 45 deg. line will have different prices for the same day for different
people depending on the scale of the y-axis. A standard scale ($1/square
vertically and 1 day/sq. horizontally, say) would standardize the scaling,
but why would Stock A, selling at $75 use the same scale as Stock B, selling
at $5?
A civil reply is in order.
Jim Perry
----------
From: Richard Estes[SMTP:dick@xxxxxxxxxxxxxxxxx]
Sent: Sunday, August 24, 1997 6:36 PM
To: metastock-list@xxxxxxxxxxxxx
Subject: Re: Gann's line of death
What are they, Lionel? Tell us all about them. Are you an expert on Gann? Do
you use it? Are you saying that Arthur's comments have no merit? Please tell
us the merits of your comments?
Richard Estes
-----Original Message-----
From: Lionel Issen <lissen@xxxxxxxxxx>
To: Arthur Rivet <55crownvictoria@xxxxxxxxxxxxxxxx>;
metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
Date: Sunday, August 24, 1997 5:59 PM
Subject: Re: Gann's line of death
>
>1. the gann angles are NOT geometric angles.
>
>2. what do you use for the price division to determine the direction of
>this psuedo 45 degree line?
>
>Lionel Issen
>At 08:41 PM 8/24/97 +0000, Arthur Rivet wrote:
>>Hi Gang..... A 45 degree angle drawn from a high or low was considered a
>>Line of Death by Gann. If one drew a 45 degree line up from a low it
should
>>act as support. If prices went below the line they would keep on falling.
>>Drawn from a high, it would act as resistance.....Lets first look at Gold,
>>the XAU. from the low on 7/7 draw a 45 degree angle up. What do we
>>see???.... Now ,on the IND,from the high on 8/7, draw a 315 degree line
>>down.(360-45=315). See how the line acted as resistance this week....
Also,
>>in reguards to gold, do a Fib study from the high at the end of Feb to the
>>7/7 low. The 38% line is acting as support also.
>>
>>
>>
>
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