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richmtn

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Rich, that's right. I leaped ahead to other stuff and missed that or was too lazy to experiment with Live charts after an early frustration. Back to basics and build it up again from there. I don't put too much into price chart TA but have been studying mostly indicators and time frames. A few other simple things as well, and a version of a three-legged stool that gives true meaning to bull and bear hooks. Simple stuff but amazing to me. Absolutely amazing! B)

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Fib No. are -- 1. 2. 3. 5. 8. 13. 21. 34. 55. 89. 144. 233.................

 

Those shares that have been making new high and did hit the bottom in august are prime candidate for the drop. Like Amgn

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DOWAGER with Fib dates.

 

Rich, that chart makes me think I'm having an acid flash-back. :blink:

I hope it was pleasant.

This chart has been freaking me out for weeks. We are sitting at another crossroads. If I was The End I would break into song here but I sing terribly. I still expect to ride the line down into those dates. The numbers are not that far away now. Drip Drip Drip. Watch Thursday and Friday because of the intersection on this chart. As if we din't have to watch our asses everyday with the criminal elements we are opposing.

 

S&P Gann Fan UPDATED 1-13

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Gann Fan

 

In Gann's original formulation, the rate of equivalence between time and price was 1/1 (one unit of time equals one unit of price), so that the middle line of the fan defines a 45? angle.Since the rate can be m/n (m units of time equals n units of price), angles relative to the middle line's angle are adjusted accordingly. For example, the actual ratio of the 1-to-8 line is 1-to-(8*n/m).

 

The table below displays the calculations involved in the Gann Fan.

Time x Price Fan angle (degrees) via 45? middle line

1 x 8 ...............................82.5

1 x 4 ...............................75.00

1 x 3 ...............................71.25

1 x 2 ...............................63.75

1 x 1 ...............................45.00

2 x 1 ...............................26.25

3 x 1 ...............................18.75

4 x 1 ...............................15.00

8 x 1 .................................7.5

 

W.D. Gann was a famous trader during the first half of the century who developed a combination of mathematical and geometric principles, which he applied successfully to trading. A Gann Fan is an analytical drawing tool used to identify price breakouts and the strength of those breakouts. The Gann Fan is drawn using a series of angled lines that "fan" out from a single point. These angled lines indicate a price to time relationship that may be relatively fast or relatively slow, depending on the size of the Gann angle.

 

To help define the time and price line, W.D. Gann took a square and divided it into equal units. He then drew a 45-degree angle line through the square. This became known as the one-by-one time/price line?the time unit equals the price unit; therefore, as the price moves, it tracks along a perfect 45-degree angle because time and price are in perfect balance.

 

Tradestation Explanation

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