Figuring out Gann, PT I
Gann is a mystery to me. I remember wanting to trade numbers based off of his work in college, but was very confused. Similiar to searching for a trading system based off of Pythagoras, Gann ran the range of the sacred to the esoteric. And he made a lot of money at it too.
Looking into Gann a bit today, I found the idea of Gann angles. The premise (from I can tell), is that you pick a high or a low, and draw a 45 degree angle from that point. The Gann angles then populate with any app/drawing program into different ratios/sector. One strategy from a high is :
a) buy once price closes above the 45% angle down from the high
b) sell once price closes below the 2:1 angle from the low subsequent to the high
Makes sense, yes? I don't know, but here are some buy examples today:
Bitcoin is above the 1:1 trendline from the most recent high; that is a buy and a sell would happen after prices drops below the upward 2:1 trendline
Ethereum is long, with a wait on a price drop below the 2:1 trendline.
EOS is long with a wait for a drop below the 2:1 trendline.
Monero is also long with a wait for a drop below the 2:1 trendline.
Gann is confusing to me, but I guess it makes sense. My hope is to track some of these ideas as I keep moving forward. Will it pay off? I have no idea. Good luck and good fortune to us all.
As a trader, this is a beautiful post to spot. Thanks for visiting my blog. I wondered who you were I'm glad to have stopped by here. Would love to have you in my discord once in a while. :) Followed/Resteemed.
cool, haven't figured out the whole discord thing yet, but would love to talk shop. thanks for stopping by !
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