I don't really care what its origin is ..all I know is that when you get a confluence of levels the thing you have a high probability trade..and that is all I can really ask for...by the way 5 digits would is "sort of" useful for the currencies
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Gann Wheel
- Thread starter bluehorseshoe77
- Start date
Quote from bluehorseshoe77:
I don't really care what its origin is ..all I know is that when you get a confluence of levels the thing you have a high probability trade..and that is all I can really ask for...by the way 5 digits would is "sort of" useful for the currencies
What you said is very hard to back up unless you can backtest the thing... Human mind has the tendency to imagine patterns out of thin air (putting significance in certain event because of fixation).
the techniques I use with the Sof9 give u precise levels..if other technical methods (Fibonacci, TLs, MAs, etc) also have levels in the same area than u have a high prob zone from where to take a trade..I don't see how I am imagining anything...I am not saying Gann is the Holy Grail but it something that worth looking at ..especially in certain commodities
that would be greatly appreciated..cheers
Quote from bluehorseshoe77:
the techniques I use with the Sof9 give u precise levels..if other technical methods (Fibonacci, TLs, MAs, etc) also have levels in the same area than u have a high prob zone from where to take a trade..I don't see how I am imagining anything...I am not saying Gann is the Holy Grail but it something that worth looking at ..especially in certain commodities
Unless I understand the reason why it works, I would assign it ZERO probability as an indicator but I also use the level to pull the trigger as an arbitrary reference point when other things (real reasons) line up. I am saying this... hoping people won't lose too much money thinking there is some kind of special forces. Trade logic always rules.
for example I don't know why the 200-day SMA is important but it is ...now if on a particular day if that level happens to coincide with a Gann number, a key fib retracement a trendline whatever...you have a high probabaility reaction zone..that is all I want ...who knows why it works...self fullfilling, special forces, etc WHO CARES ...bottom line is many of these techniques give you nice high risk reward areas to get involved
Quote from bluehorseshoe77:
for example I don't know why the 200-day SMA is important but it is ...now if on a particular day if that level happens to coincide with a Gann number, a key fib retracement a trendline whatever...you have a high probabaility reaction zone..that is all I want ...who knows why it works...self fullfilling, special forces, etc WHO CARES ...bottom line is many of these techniques give you nice high risk reward areas to get involved
Only the risk is real and reward is imaginary. I like a lot of the technical stuff but I don't feel right using them as REASONS for entering the market no matter how many of them stack together instead I like using them as entry technique to establish the uncle points.
Quote from bluehorseshoe77:
Anyone know where I can find a Gann Wheel/Square of Nine that extends out 5 digits????
You do not need a 5 digit Gann Wheel....
To calulate a number that is 360 degrees from the last number, find the square root of the number, add 2, then square the number. For example, the square root of 2025 is 45. 45+2 is 47. 47 squared is 2209. You can do this until you reach your desired level.