The Gann Fan is a technical analysis tool created by W.D. 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.
I have put the thick red line to show once broken a possible safe buy area if this pattern plays out?
Target would be $10268 according to Bulkowski formula.
This would tie up with accumulation "Mark Up" which is in line with Wyckoff.
http://thepatternsite.com/tb.html
There is stiff resistance around the 1250 mark for NSE:RELIANCE and a failure to break it can mean more downside with the target being around 1140 levels.
Trying to emulate the schematic for Re-Accumulation #2(Wyckoff Events and Phases) ~ there are similarities!
https://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
Frankly, i cant tell much by Gann Analysis on where about the trace of the price.
i guess, we will see as it happen.
anyway, the retracement is now at 0.5 Gann line which price shud react.
It is hard to say what will happen the next days. This is a long idea that could work:
Target 1: 540$
Target 2: 613$
Arguments:
- Gann arc is aligned very good at the moment. Check out all the arcs. In other words, the current arc indicates next turning point. It needs to stay inside this arc, if not it could start a new bearish rally.
- Fib 0.886 level ...
Current movement
Lisk Btc Move below Downtrend as many coins
right now Liks reach a good correction level at 0.236 above 4/1 Gann angel of Gann fan
we can see Lisk do Pull back from Current price to 0.00120246 SAM 90 Solid Resistance Average
But The main Buy zone at located at 0.00045837 / 0.00038327 Major Support for lisk Last trend Of Gann Fan
we expect ...
Bearish 5 Drives megastructure leading into a Bullish 5 drives up to 8500 to which will fulfill the overall Bearish 5 Drives w a target at around 5.5k.
Upon completion of 5.5k retracement OR sideways trending on a strong demand zone, Bitcoin's harmonic may become a Bullish Deep Crab to which will have a target of $10k+.
I've been bullish about bitcoin and I'm ...
Price action seems to line up with rays from the intersection of 12/25/17 and $1,145 on a log scale. Seems to have begun before 2011 and believe it will continue.
i assume of new uptrend cycle when price break first Gann fan.
so the new uptrend Gann fan was drawn from there.
we can see price lingering along 1/1 Gann angle. it is expected price will land on crossing of 1/1 lines before it goes up to the next level.
it is expected to reach TP about 0.485 in end of september.
Wallahua'lam.
This is a new TA of SAPNRG (Bursa Malaysia) after its surprised announcement today on second-half of trading session.
the small red square is where the price expected to cross at the date shown at the bottom of the chart.
but, more importantly is that for today price to close in Gann Fan 1/8 that is above 0.475. otherwise it is like game-over for a while.
To establish harmonic cycle is crucial in Gann TA.
If boxes above are harmonic, then it is predicted that price will pass thru all four small squares denoted by black arrow.
Hence, we can establish expected price and dateline; which are:
- about 0.465 around 5 september
- about 0.525 around 10 october
Wallahua'lamu.
