Mayfair_Ventures

Bitcoin (Gann Fan) Tutorial Basics

Education
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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 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 .

The Difference Between a Gann Fan and Trendlines
The Gann Fan is a series of lines drawn at specific angles. The 45-degree line should extend out 45-degrees from the starting point. A hand-drawn trendline connects a swing low to a swing low, or a swing high to swing high, and then extends out the right. The trendline is matched to recent price action and is not drawn at a specific angle.

Step By Step - Application;



Gann is a popular tool & has many resources available online - This breakdown was just a quick look into how to apply them.

Please feel free to send questions below.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Comment: More confirmation of respect of these Gann levels - here's an update.
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Comments

Thanks for this helpful tutorial on Gann. We hope it helps others learn something new or see new use cases. It's featured on Editors' Picks
200 coins
+10 Reply
Mayfair_Ventures TradingView
@TradingView, much appreciated and happy if it helps the community here. Have a great weekend!
+4 Reply
100 coins
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@greenmask9, Thank you! Have a good weekend and let me know your thoughts when you have applied a couple on the charts. Always good to chat about things like this.
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I believe it's invaluable to understand all of the ways people trade or invest in markets. So thanks for this. I have always wondered how to use Gann fan. This explanation is so well written and simple, I feel like for the first I can go try a Gann fan right now. Of course, I don't know if I will use this method going forward, but at the last being able to know more about it and understand how some people use this is an important edge in my eyes.
+8 Reply
@scheplick, much appreciated! - Gann is actually quite accurate for projected trend lines on smaller timeframes when calculated out on the daily or weekly charts. I am glad it comes across as a simple guide as you could spend hours trying to break it down. Have a great weekend!
+1 Reply
my tried and tested method over hundreds of charts is for an upward fan to use the significant low before the run and the lower high after the peak as anchor points, and for a down fan to use the peak and the first significant low as anchor points. This, combined with fib extensions or retracement, and fib arcs for time event markers has made me hundreds of thousands of dollars
+6 Reply
@juzharley1, Perfect! yes, I also use Fib extensions a lot. Thanks for the comment.
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This is very clear and applicable. Thanks for the quick introduction.
+5 Reply
Mayfair_Ventures infamous5511
@infamous5511, Glad you liked it
+1 Reply
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