The Gann Fan is a technical analysis tool created by WD Gann. The tool is comprised of 9 diagonal lines (extending indefinitely) designed to show different support and resistance levels on a chart. These angles -drawn from main tops and bottoms- divide time and price into proportionate parts and are often used to predict areas of support and resistance, key tops and bottoms and future price moves. Please note that the chart needs to be scaled properly to ensure the market has a square relationship.
The method is based on the notion that markets rotate from angle to angle and when an angle is broken, price moves towards the next one. The most noteworthy angle is the 1x1 or the 45° angle, which represents one unit of price for one unit of time. A change in the direction of price is expected when the market reaches an equal unit of time and price, up or down. During an uptrend, if price remains above an ascending angle, the market is considered bullish and vice versa. TradingView has a smart tool that allows users to draw up to 9 customizable angles on a chart.
Nasdaq has gone so much up lately and I think it will turn downwards next three years.
Target 1: 3500 (52%)
Target 2: 1760 (76%)
When: April 2021 and May 2022 / January 2024
Stop loss: Above the resistance arcs.
Arguments:
- 2 different Gann Squares says it made All time high last week.
- Gann line from the Gann Square is saying the same.
- Gann Fan line also...
FUD and counter FUD cancel each other.
Food is important, it should be expensive.
Think of the farmers!
Let's fill our bags and run away with sellers money muahahaha.
- Indices -
Generally trending down, bulls keep buying dips and price recovers, but to lower highs. Maybe they end up vomitting it all at once and we see a huge red candle. Or maybe more buyers FOMO in. Don't they have to sell to go on holidays...
A whole lot of politics around the black Gold, but I think its due for at least a test of the cloud. Getting much south of 62 could see us in the low 50's by early summer.
DXY went through a failure test above the trading range. There is a strong resistance around 98.50 area. Looking for fading setups on lower timeframes makes sense at this point.
The Bad News:
Despite a majority of all other cryptocurrencies going up 2-10x the last couple months, XRP has seen minimal gains USD side. On the BTC side, ripple has gotten completely destroyed. Smashing yearly log support lines and sending XRPBTC in what seems a never ending bear cycle.
The Good News:
Looking at nearly every previous bull run, XRP has almost...
squared at 63 degrees and set to 144 on the daily chart. the fan is offset from what i normally do with it but this seems to be in line with whats happened thus far in price.
gann fan, made of gann squares... id say pretty much every chart you've ever seen with a gann fan on it, is likely wrong. lol levels to this game. ***may see some relief back into the fan here before rallying higher***
After extensive Gann theory research and analysis, if the overall trend is bullish it will have to pass the 2/1 line for a correction to finish. Comparing to the 2013-2016 fractal it took ~1 year after the hard correction to resume a bull run, it looks pretty much like the same situation now. Looking at this now long term holding was and is a viable option. These...
All signs point bearish. MACD, RSI, Gann Fann, TD Sequential, Short vs Longs, Volume, KC, Wedge. Wait for a close below the previous ascending channel unless you want to get fakeout'd. (Entertainment Only) (DYOR)
Horizontal purple lines above 18,58 are your targets / potential tops.
I don't advice to buy for the long term until we see a good uptrend above 18.58.
The vertical lines represent an expectation of a change in trend, a pivot high/low or start of a new bull market.
Q4 2020 is going to be very interesting.
GBYTE rebranded to OBYTE is fundamentally a really unique coin. Its yet to be discovered but it's gaining some ground as its being added to other exchanges and built upon. There's an opportunity for OBYTE to make a nice move up in the near future but keep in mind this is a lower volume, low supply coin that is directly linked to BTC's performance and volume.
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