iCharts Discussions

[opportunist]

Hi all,

Yesterday NG's explosive move shook me up. Trading hit the circuit at 350 levels as around more than 1300 buy orders kept pouring every second (as I saw on my ODIN screen). But the worst (or the best?) part of it is that I kind of foresaw the move using Gann Angle at around 336 levels but could not take full advantage of it simply because I did not believe that it could happen. Anyways still made some money on the way down. But oh boy NG showed its move of a lifetime

The attached chart shows three angles: 1x1, 2x1 and 1x2. It now seems that having retraced back to 1x1 and having broken that level too, it would most likely move down to 1x2. But then today is Thursday when the weekly demand/supply report is released making it highly choppy to trade so I will stop trading after 8 pm. But before that would try to take out 215, if it happens, as it falls towards 1x2.

Please note I am a novice using Gann angles and Gann's theories. There are bigger pundits on icharts who can better explain things.

Regards,

Oppo

[saumya12]

Hi

Can you please tell me
How to draw Gann Angles on the chart

Thanks

[Rebel]

dear frnds opportunist & saumya,
i have gone through gan many methods but i dont knw how to use them practically expect few levels once i as following namely gso9 eod levels by our frnd mogili,jt way,umesh levels other than that i had seen gan fan,arc,angle etc there are many things in the name of gann so any ichartian with good info on them pls share your insights and ideas....


awaiting your valuable posts....

[Rebel]

some useful links,
http://www.gann.co.uk/gann-angles-the-secret-of-better-market-timing-for-big-profits.html

[opportunist]

Will post in detail when I get time on how I drew the lines. But in brief, I drew a line from the immediate swing low measuring no. of candles = no. of points.

Example : I drew a vertical line 20 candles away from the low and drew a horizontal line at a 20 point level difference from the swing low . Let's say that the intersection of these two lines is A. Then I drew a line from the swing low to point A. That is the 1x1 line. Similarly line joining swing low and level difference of 10 points so as to get the 1x2 line and joined a line from the swing low to 40 point higher level to get 2x1 line.

Regards,
Oppo

[opportunist]

Today NG at 12:11 pm. Broken 1x2,1x4 lines. So expect it to go down to 1x8 to 303 levels if it does not shoot up beyond 312.

Regards,

Oppo

[opportunist]

Another observation on Nifty-1M in 60 TF. Notice how price follows the Gann angles. Juxtaposed against the monthly pivots the erratic prices make a lot of sense.

Regards,

Oppo