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Bill et al,
Gann Lines, when configured right, work a lot like traditional support and
resistance except that the angles are more dynamic because they are a
different level on every bar. Certain lines can be used to define a channel
when lines about two standard deviations apart are added above and below the
applicable line. The trend follows the channel until it is ready to change.
If the price breaks out of the channel the trend or move is over. It just so
happens that those changes often happen near or on the point where the lines
cross each other. There are many more aspects to using the lines that I
won't go into here. I wrote about a 3000- word article about this for
Technical Analysis of Stocks and Commodities(TASC{Dec.99 issue}). I would
print it here but I don't own the rights to it, if, that is I understand
copyright laws properly. As I mentioned before I have refined my methods
since the article came out. I use linear regression and repeating angles, to
confirm the Gann angles now, but the approach to squaring and setting the
angles is similar.
Prosper
Prosper
> Prosper, how do you read the Gann lines on your chart with respect to
where we are going? Bill
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