|
PureBytes Links
Trading Reference Links
|
As Someone Said "Time Is Relative". Try Looking At The Price Within The
Time Period. It Doesn't Matter If It Is A Day, Hour, Or Minute, The 45
Degree Still Applies.
One Of The Hardest Task To Teach A Position Trader Is To View Expected
Price Move Based On A Smaller Time Frame.
----------
> From: Lionel Issen <lissen@xxxxxxxxxx>
> To: Richard Estes <dick@xxxxxxxxxxxxxxxxx>; metastock-list@xxxxxxxxxxxxx
> Subject: Re: Gann's line of death
> Date: Monday, August 25, 1997 9:00 AM
>
> 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.
> >>>
> >>>
> >>>
> >>
> >
> >
> >
>
|