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.
BUY APOLLOHOSPITAL 930-940
SL 910 CLOSING BASIS
TARGET MINIMUM 1004, 1149
RESULT ON 10 AUG
REASON:
FROM HIGH CORRECTION IS COMPLTE.,,
NOW I EXPECT BOUNCE FROM TODAY LOW
WITH SMALL SL
BUY APOLLOHOSPITAL 930-940
SL 910 CLOSING BASIS
TARGET MINIMUM 1004, 1149
RESULT ON 10 AUG
REASON:
FROM HIGH CORRECTION IS COMPLTE.,,
NOW I EXPECT BOUNCE FROM TODAY LOW
WITH SMALL SL
It is above 1/1 angle support and the support for the coming week is between 3815-3825, which coul be good entry point. The 1/2 angle resistance is far away at 6095.
If tomorrow closes in green entry for short term gain up to 248. If the stock closes above 248 in 10 days, entry can be initiated for medium term target of 300+
After reaching 939 in December 2017, the stock has moved down consistently to level of 333 on in Mid July 2018. Since then the stock has started upward movement and has crossed ½ descending angle two days ago and yesterday closed 487.75. Next target in short term is 540.
The descent will be arrested if the stock manages to close above 135.50 tomorrow. If it remains bullish consistently, a level of 202 can be seen in medium term with occassional hiccups. Stop loss 116
