Learning a new tool here, Please point out any defects- It would be much appreciated!!!
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So the Idea here was to find out why I found such strong resistance on my previous charts, around the 9.4k range. the current ascending channel we are in comprises of another smaller channel, that we fell out of, and are struggling to re-enter, whilst hitting the 9.4k resistance horizontal. -with this said, all candles and moving averages were showing strong bullish signs. After using Gann with a Fib overlay, the answer is a little more clearer for me. We are currently testing the 4/1 which is a strong resistance, and also coming up against the .618 fib. I feel like this is going to take some serious capital to punch through quickly, or we'll need some more sideways time till we pinch between the ascending 3/1 and decending 4/1. I am still very bullish, however this is where I will be awaiting conformation.
I'm assuming you squared this somehow... I've seen fans typically drawn from peak to low/low to peak. I've squared fans to make my own gann squares too.
If you haven't noticed, there is an option to fix the price to bar ratio, which will allow you to use fixed gann squares to make perfect angles for that particular price to bar ratio.
for me I just manually adjust the bar position and price position on the fans, since fixed price to bar ratios don't work on log.
Viking76
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@Mikeiavelli, Sorry it took me a minute to fully process what you did here. I am very grateful for the help and perspective!
If you haven't noticed, there is an option to fix the price to bar ratio, which will allow you to use fixed gann squares to make perfect angles for that particular price to bar ratio.
for me I just manually adjust the bar position and price position on the fans, since fixed price to bar ratios don't work on log.