did you build the square by hand? how many hours did it take you? ;)
yonswac
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i just started learning Gann techniques, this square took me about 5 minutes .
the drawing is not the problem, but how to trade it.
isomorph
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oh ok. i thought it would take longer. yes, to trade it, as with any other tool, is always the main issue. 1 reason i dislike this particular approach, and not to be arrogant or anything, is that there is no solid mathematical underpinning for why we should all these lines in the square at those particular angles. so, probabilistically speaking, there are enough lines for price to get stuck at some of them, and people will say: 'look! here's support/resistance', and when price just slices through 1 of these lines, people will say: 'support/resistance didn't hold' when perhaps in fact there never was any support/resistance there.
the point i am making: if the major players don't use Gann's square, and millions more retail traders don't, you will need to add another filter to your chart to decide the actual quality of a Gann line and whether or not it actually defines a valid level you can trade against, because more likely than not, when price will stop at 1 of the lines, it is going to be due to coincidence more than anything else. just like when price stops at the 50% fib retrace and reverse, and the next time on the same instrument, it stops at 61.8% and retraces! so which fib to choose to trade against? what if PA (price action) seems to show it will reverse at 50% but then turns and crosses 50% because it was a fake move? and then people get stopped out when their SL put above the 61.8% gets hit and price reverses, and so on. it also depends on the TF etc... but in general, i don't use fibs anymore. nor MAs.
so i always say: as traders we need to find a universal invariant.
anyway, good luck.
yonswac
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Gann techniques are a pure mathematical thing actually, this angels and squares are being respected over and over, even i don't know why.
right now, i'm trying to only focus on clear breakouts, maybe i can merge squares with other techniques i know in the future.
thank you.
isomorph
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really? ok please give me a link i can peruse to find out more about Gann techniques being mathematical.
yonswac
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Well i think squares are maths
Burgernomik
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can u advice anyplace to learn gann
yonswac
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unfortunately there no much info on the web, most are being educated via personal trainings only
isomorph
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so are you saying that someone else taught you this but there is nothing you know of online?
yonswac
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Yes just the basics of the basics, and it's in a different language :)