GANN INDICATOR - A PERFECTION UNFOLDED - EURAUD BULLISH
Do you know about the Gann Indicator, oh common! its a perfection
We can learn the technicalities of the Gann indicatory while profiting from the EURAUD BULLISH MOVEMENT
Gann indicator is a technical indicator built up with a quarter circle, with cutting edge on angles, drawing angles to trade and forecast is probably the most popular analysis tool used by traders. Many traders still draw them on charts manually and even more use computerised technical analysis packages to place them on screens. Because of the relative ease traders today have at placing Gann angles on charts, many traders do not feel the need to actually explore when, how and why to use them. These angles are often compared to trendlines, but many people are unaware that they are not the same thing.
Using a Gann angle to forecast the EURAUD pair, it seamlessly creates support and resistance and is probably the most popular way they are used. A gann chart is most efficient at 45 degree angle and we have a perfect 45 degree angle (THICK GREENLINE), the retracement of the price is 22.5. (THICK REDLINE) is expected. As we can see, the price has fallen below the 36 degree angle which has turned into a resistance, the 22.5 remains the support for this pair, and then the 9 degree angle( THICK BLUE LINE) , which serves as our invalidation if the price goes below it.
the angles above the price point provide the resistance and angles below the price proves the support. Because the analyst knows where the angle is on the chart, he or she is able to determine whether to buy on support or sell at the resistance, but our sentiments are bullish.
looking at the daily charts, we have a confirmed uptrend therefore, Our target on this idea is at 1.6717, while the invalidation price is at 1.6392.
look for uptrends, break out through resistance, and bounce from support on this angles till the price reaches the target. notice the purple dotted lines, also confirming the 45degree angle of the highest high at 1.6525, that line falls through a trendline from 4 hour chats, it absolutely has to be broken before we can achieve our target.
GANN LEGEND!
45 degree angle
45-9 = 36 degree angle
45/2 = 22.5 degree angle
45-36 = 9 degree angle
0 degree angle
AND seamlessly, looking at the price high and higherhighs, low and lowerlows, we can perfectly derive the legend for the GANN indicator.
kindly like my page and click on the flag to follow this idea, as ill be giving updates till the target is achieved.
Have a great trading week.
We can learn the technicalities of the Gann indicatory while profiting from the EURAUD BULLISH MOVEMENT
Gann indicator is a technical indicator built up with a quarter circle, with cutting edge on angles, drawing angles to trade and forecast is probably the most popular analysis tool used by traders. Many traders still draw them on charts manually and even more use computerised technical analysis packages to place them on screens. Because of the relative ease traders today have at placing Gann angles on charts, many traders do not feel the need to actually explore when, how and why to use them. These angles are often compared to trendlines, but many people are unaware that they are not the same thing.
Using a Gann angle to forecast the EURAUD pair, it seamlessly creates support and resistance and is probably the most popular way they are used. A gann chart is most efficient at 45 degree angle and we have a perfect 45 degree angle (THICK GREENLINE), the retracement of the price is 22.5. (THICK REDLINE) is expected. As we can see, the price has fallen below the 36 degree angle which has turned into a resistance, the 22.5 remains the support for this pair, and then the 9 degree angle( THICK BLUE LINE) , which serves as our invalidation if the price goes below it.
the angles above the price point provide the resistance and angles below the price proves the support. Because the analyst knows where the angle is on the chart, he or she is able to determine whether to buy on support or sell at the resistance, but our sentiments are bullish.
looking at the daily charts, we have a confirmed uptrend therefore, Our target on this idea is at 1.6717, while the invalidation price is at 1.6392.
look for uptrends, break out through resistance, and bounce from support on this angles till the price reaches the target. notice the purple dotted lines, also confirming the 45degree angle of the highest high at 1.6525, that line falls through a trendline from 4 hour chats, it absolutely has to be broken before we can achieve our target.
GANN LEGEND!
45 degree angle
45-9 = 36 degree angle
45/2 = 22.5 degree angle
45-36 = 9 degree angle
0 degree angle
AND seamlessly, looking at the price high and higherhighs, low and lowerlows, we can perfectly derive the legend for the GANN indicator.
kindly like my page and click on the flag to follow this idea, as ill be giving updates till the target is achieved.
Have a great trading week.
Trade active:
The market has clearly broke out the line falls through a trendline from 4 hour chats, it absolutely has to be broken before we can achieve our target. the purple dotted lines, however, our targets will be reached soon, if there is no retracement.