Trading Gann angles, Fib Fans, and speed lines

A

athlonmank8

Probably one of the most interesting tools i've come across. I have a feeling it's no coincidence big market participants have created somewhat similar forms of each other's work.

However, my big question is whether it's more reliable to draw them at a consistent "set angle" (say ~24 degrees or 45 degree) from the high or low, or simply from the H to L or L to H of the move.

I know someone here has tweaked these to a point where they're deadly accurate. Just wondering if someone wants to throw me a bone out of generosity. :D

I'm tempted to start a journal however i'm worried about wrecking an edge.
 
The thing about trying to draw a specific angle (say 45 degrees) is that it is all relative with the vast majority of charting platforms these days and you cannot truly draw one. What I mean is that you could put a protractor down and draw it but as soon as you "squish" or "squash" the chart you change it all. Gann had fixed scale charts since he used graph paper. The way to work at this is to find a scale that is working in the market for your 45 or 1x1 angle and then work the others off of that. This keeps it all relative to the original working scale.
 
Thanks for the response. That's the problem I came across. I figured the only thing I could do is draw squares off of H/L's and get the 45 at the corner, however i'm willing to bet it'd be a waste of time trying to backtest something that ornate.

Regardless, this is probably one of the most useful technical tools i've used using it practically right out of the box with a few changes.

Elder, Gould, Wilder. Certainly some interesting fellas
 
Apologies,
I missed the reply. I agree this is an extremely useful tool and does a good job of helping with support and resistance. As to anyway to backtest it I don't think you could. These are after all just spots to look for support, resistance and near term CIT.
 
Fib Fan is another way to get there. The Gann angles have to be drawn with the right scale. I would also say that the Fib Fan has to be drawn with the right scale and you are using the chosen swing to set the scale. Same can be done with a gann box to generate angles.
 
I came across this thread on DailyFx.

http://www.dailyfx.com/forex_forum/my-trading-journal/619647-amd-gann.html

Seems like he's got the idea. Retracements with angles.

marketronin said:
You only wreck the edge if you publish the journal. Keep it and use it just for your own analysis and journey.
More...


Will do!

Thanks again for the replies. I actually use these with and against the trend and then take the breakouts when they fail. I found some fairly high probability levels that work well on the lower TFs. Still some work to do but this is about as good as i've seen. I wouldn't mind sharing it with a few people once it's put through the grinder via live trading.

Once again, I really appreciate the responses and the info!
 
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