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S&P Gann Angles + Gann Box
- Thread starter Ceci
- Start date
Quote from Ceci:
What do you think about it?
Ceci,
I just hope that if GANN gets you in to the trade, GANN has a way to you get out of a trade.
I studied GAnn for years. 80% is worthless. What I did learn though is that it is not necessary to divine the markets to make a profit.
Regards,
Dave Scott
1) addiduro: 360 from the top
2) Dave: I agree with you about Gann, but when I see these things on weekly I give them a great importance especially when they coincide with other analysis
3) Indahook: on the dayly chart there is a G222 with a PRZ at 1147. During the last moths there is a perfect correlation with EUR\USD and also this market is ready for several corrections.
I am ready to enter short on both markets with a tight stop.
THank you everybody
2) Dave: I agree with you about Gann, but when I see these things on weekly I give them a great importance especially when they coincide with other analysis
3) Indahook: on the dayly chart there is a G222 with a PRZ at 1147. During the last moths there is a perfect correlation with EUR\USD and also this market is ready for several corrections.
I am ready to enter short on both markets with a tight stop.
THank you everybody
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Quote from Ceci:
1) addiduro: 360 from the top
2) Dave: I agree with you about Gann, but when I see these things on weekly I give them a great importance especially when they coincide with other analysis
3) Indahook: on the dayly chart there is a G222 with a PRZ at 1147. During the last moths there is a perfect correlation with EUR\USD and also this market is ready for several corrections.
I am ready to enter short on both markets with a tight stop.
THank you everybody
Are you using any of Gann's Master Permanent charts with your analysis also?
My own concern with this type of method relates to the subject of "scaling". With modern charting packages, as you move up or down in price, there is an automatic scaling that takes place. This may change the position of your datum points (the points from which you originate your rays). On a paper chart of the type Gann would have originally used, this was not an issue. I have to confess my bias that work of this type, Gann, Ellliot Wave, Fibonacci, Astrology, tossing chicken bones, coin flipping, and so forth, may not be as productive as simply taking the time to learn to interpret supply and demand. If you are a devotee of Gann methods, I hope you will not be offended. That is not my intention. To be fair, the obvious question to ask is if reading price and volume (supply and demand) is more effective, why do so many traders lose money with it. From my point of view it is because there is a lack of good education on the subject, and because most of the traders who use it simply aren't very skilled.
Best of luck with your trading. Steve46
Best of luck with your trading. Steve46