The trading techniques by W.D. Gann are widely seen as innovative and are still studied and used by traders today. He used angles and various geometric constructions. Gann angles 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. 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. Several angles together make up a Gann Fan.
The angles are drawn from the main tops and bottoms while the chart is scaled appropriately to ensure the market has a square relationship. 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. TradingView has a smart drawing tool called the Gann Fan to apply several Gann angles to the chart and other tools like the Gann Box and the Gann Square to visually identify key levels on a chart.
Our bearish signs are forming and now we have another condition from our perspective which is the daily close below 6500 $ support after which we can see the levels of 4000 $ and 2200 $ we ask Allah reconcile and repay
ESCORTS has been moving in a Gann Fan pretty decently.
CUrrently testing the blue sup/resistance level
It also broke out of the inverted head and shoulders(neckline not shown)
All of that for an upmove to retest the lifetime highs.
For the last 13 days the stock is consolidating and not toeing 1/2 or 1/3 descending line.The stock may continue to consolidate till 10.07.2018 for the next up move unless it starts to go down immediately.
