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...
Lot's of negativity going around crypto b/c of the price. I guess people just assume when something goes down in value it is no longer legit or is a scam. While there are plenty of scams in the crypto markets Litecoin is certainly not one of them. When you buy Litecoin you are investing in a decentralized network that does not try to replace Bitcoin but instead...
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.
On 2/16, I used a Gann Fan to section off the descending wedge that we've seen play out over the past couple of months. Interestingly, the support and resistance levels since then have proven true. I'm a novice trader and might not even be using this correctly, but it's still an interesting observation that I wanted to share. I haven't seen anyone else share this yet.
On the Monthly chart we are having resistance on the MA 5 at 4290 and EMA 30 at 4910 and we are having support with MA 200 at 3106. To confirm this falling wedge we would have to breakdown the 200 MA barrier which can be possible. Bottom of the wedge will be at 2324$ march 19th and 1725 May 19th. If we go under the 200 MA we will be there for a while, in this...
Nothing to stop BNB Binance.
On the daily chart BNB look like a free bird, next resistance fib to hit is the 0.5 around 9.48. BNB is complete free of the Gan fan sharp knives fibs.
but is see a possibility that BNB can run up 34% more to hit the 0.236 resistance fib but for this BNB will have to wait after feb 20th to not be hit by the 1/1 gan fan fib. On the 1...
There is 2 things that stop bulls from this rally, the 1st one is the 55 days EMA lime line and by the 2/1 gan fan fib and the 0.5 fib level on a lower time frame which is not major but 3 element that were anticipated and act has resistance for btc. We are in a clear symmetrical triangle, higher lows, lower highs which can be Bullish, BTC might try to test upward...
The symmetric triangle may break down soon, symmetric triangle connect at least 2 high points and two low points. The top 1/1 fib of the gan fan may intercept the blood around 2589, before we go there we might see some support around 3200.
Tron is now having support from the gan fan 3/1 fib. We will have to break the 2/1 gan fan fib to go higher. RSI + EMA are now in our favor on the daily chart... In my opinion it is possible that we will be rejected by the 8/1 fib which usually put pressure. A push to 0.03971 is possible which coincide with the lenght of the pole on a symmetrical triangle breakout.
Here is a comparison chart of the S&P large cap inverse shares.
Looking very similar to Dow with even longer standing uptrend that is currently testing a bounce.
Check out RSI levels compared to last time at this level and what price action followed.
Again I will be hedging this short term *week or less while picking up shares in the index at a fair price....
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