Re: Gann's line of death

[Lionel Issen <lissen@xxxxxxxxxx>]

Richard:
I am no kind of expert on Gann's methods. I do not use them because I do
not understand the process.  I have read a little about them.
One of the difficulties with Gann's angles is that they do not appear to be
well defined. For example: a 45 degree angle is produced by drawing a line
on a slope of 1 price unit against one time unit.  I assume that 1 time
unit is a minute, hour, day, week, month ie the period of interest.  But
what is a price unit? Is it 1/16, 1/8, 1/4, 1, 5, 10 etc.  Is it the same
for a stock that sells for $1, $10, $100? Point and figure charts, and
related types, set a square interval that depends on the price of the
stock, which intuitively is attractive.

Gann's methods are not clear, to be useful they should be as easy to follow
as a food recipe, or an engineering handbook.  To me, Harley Meyer's recent
postings on evaluating the DOW are easy to understand duplicate.

Thanks for your question

Lionel


At 06:36 PM 8/24/97 -0500, Richard Estes wrote:
>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.
>>>
>>>
>>>
>>
>
>
>