Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes.
- The Gann Fan was developed by W.D. Gann .
- The Gann Fan is a series of angled lines. The user selects the starting point and the lines extend out into the future.
- Gann believed the 45-degree angle to be most important, but the Gann Fan also draws angles at 82.5, 75, 71.25, 63.75, 26.25, 18.75, 15, and 7.5 degrees.
- The Fan is started at a low or high point. The resulting lines show areas of potential future support and resistance .
Sometimes I use such tools to check regularities on the chart.
Today I see such pretty accurate touches to the gradient lines.
My trading strategy doesn’t include such patterns but if you like it you can pay your attention to the next trades.
Push like and write your comments. We will catch the best trades together!
Thanks for your support!