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Hi all,
here is a question that I have been unable to answer all my trading life. I
asked it on another list, but have not received any satisfactory reply to
it.
The problem: I fail to understand how one can speak of Gann 45 degrees or
squares when there is no accepted standard for the x- and y-scales of a
chart. Who determines what constitutes the applicable units of time and
price?
For instance, let us look at the NASDAQ 100 daily chart. What measurement is
considered equivalent to a time of 250 days? Is it 250 NDX points? Or 250
points in the NQ futures? Or 250 points in QQQ stock? Or fractions thereof?
In which case the question arises, who determines the correct fractions, and
how?
Surely the visual impression of a chart cannot be a measure, as this can be
rendered invalid by simply rescaling the chart. But then, what is the
correct yardstick?
I for one have never been able to find out, and I would certainly appreciate
any quantifiable input.
Best regards,
Michael Suesserott
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