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.
KEY TAKEAWAYS - 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.
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