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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Friday 25 June 2010

S&P Gann angles chart


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8 comments:

  1. Anonymous25 June 2010 at 19:08

    heard from a friend the 45 degree angle Gann line is important. Above the line is bullish, below is bearish.
    Is that a gann rule?

    Thanks
    humble

    ReplyDelete
  2. Anonymous25 June 2010 at 19:09

    here is the chart:
    http://humblestudent666.blogspot.com/2010/06/45-degree-line-on-linear-scale.html

    ReplyDelete
  3. Chartrambler25 June 2010 at 19:14

    Hi Humble.My understanding is above 1x1 is bull mkt,below is bear.45 degrees depends on scale of chart.Some markets 1x1 is 1x1,others it is 0.1x1 or 10x1 depending on price of the contract(eg Dax I use 10x1)For S&P 1x1 looks fine.1x1 from 666 low has not been broken and seems to kick in around 1000 in a few days time.Short term we are bearish below 2x1 from high and in a fast 8x1 channel.That is how I read it.

    ReplyDelete
  4. Chartrambler25 June 2010 at 19:43

    This comment has been removed by the author.

    ReplyDelete
  5. Anonymous25 June 2010 at 19:55

    Rambler, thanks.
    if i read you correctly, currently we are still above the 45 degree line in a bull market, and need to be below 1000 spx to be in a bear market?
    Is the line i drew a 45 degree line (a friend told me it is).
    is the 45 degree line from 666 more important the line down from 1219?

    1x1, 2x1, 8x1, what's the order of importance in Gann's world?
    Thanks

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  6. Chartrambler25 June 2010 at 20:35

    Hi Humble...I would forget about degrees...whatis important is units of price vs units of time,and balancing the two.I would say 1 pt per day from 666 low must be most important for bull market support.Angles from high are to me suggesting we may test this.You should also look at angles from 1576 high and you should look at anglkes that are based on calendar time(spaces for w/e) To me is only one tool and we are bearish below 8x1 till it breaks! Also look at the square of the range chart I posted a few days ago (from July 09 low...price balanced time on wednesday and now bearish!)Hope that makes sense ! I think 3x1 less important than 2x1 etc

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  7. Anonymous25 June 2010 at 21:31

    Ramber, thanks for the detailed explaination.
    a friend show me the Gann idea of 45 degree & bothers me. i just want to clear it away. seem like the 45 degree line chart is not important.

    is there an important Gann turn date in mid July? you know, since over a month ago, i have been looking for a low on Jul 14. like to have more confirmation from a different angle.

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  8. Chartrambler25 June 2010 at 22:14

    HI again...where chart scale is 1:1 price: time 45 deg is 1x1...need to know chart scale..gann lines just representing the relation between price and time(your chart was hourly).Gann cycles based on the yearly cycle throw up divisions of 2,3,4 etc.So look at 3 months (1/4) from high,6 mnths from Jan high,1 year from july o8 low ,2,3,4.5 year cycles etc etc...
    Clusters have most significance

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