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Chris,
I am kind of in your camp. I have attempted to work with Gann lines for some
time. The software I have has both "fixed increments" and "free form". I
have found that the free form tends to be easier in finding an initial fit
(I am told the major price action should be around the 1 x 1 line). Both I
understand automatically keep you at the right ratio's in time and price for
the chart you are on. Attached is a gif on the daily SP with EW counts, etc.
and an ellipse that caught the recent high and it is up against a Gann line
and a fib retracement (the 10/70 is yet to get to zero though, indicating
more time or price advancement to go).
Now my question, every time I get to this point the darn thing seems to stop
working (meaning it takes a certain number of "hits" to come up with a
working chart, then it blows up, from my experience on the past charts)? I
feel like I am curve fitting to get the chart and then it (maybe
appropriately) stops fitting the curve?
don ewers
----- Original Message -----
From: <chrischeatham@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, April 26, 2001 8:04 AM
Subject: [RT] Re: NASDAQ Rhythm
> Haytham,
>
> Thank you for your most interesting posts. Perhaps you can answer a
> question for me based on your experience with Gann angles. I have
> always been troubled by the arbitrary nature of the way many draw
> Gann angles -- I mean determining a rate of X points a day and
> applying that to a swing low/high. Is there something here I am
> missing?
>
> The other approach that seems closer to letting the market tell one
> the answer is to base angles on squaring a previous price swing. But
> still, if I include angles from prior important swings (which often
> precisely mark turns) I get a little overwhelmed with angles and
> possibilities. I suppose I could just ignore the prior angles, but
> they are often more meaning in predicting price action than the
> current one.
>
> Any thoughts to assist in my understanding of Gann angles?
>
> Thanks,
>
> Chris Cheatham
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