The Gann Fan is a technical analysis tool created by W.D. 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.
I have compared the Q1 and Q2 price movement patterns and have marked with numbers 1,2,3,4 (against each quarter). Also using the fibb retracement, I have charted that using the 4950 retracement rally levels from the bearish point of 2986 and expecting a target of 6154 and expect spikes of 6300-6400 (All time high expected) over the next 20 days.I am republishing ...
HEG Fibb Retracement:In Q1 from the bearish most point which was 2580 levels it moved to 4375 levels(approx 68%).In Q2 from the bearish most point of 2986,we can expect a target of 6154 friends!
Key Level to watch out for(Study of 5Year chart)
Though there will be some correction in between. It is predicted that Nifty will come down
to 9900 - 10000 Level.
Some Intraday Opportunity will be there if 9th 0.96% October opens the nifty above 10331 Level.However
Expcting that intraday opportunity should end on 15th October or maximum by 19th october with ...
From our analysis, It seems the pair attempts to breach its long term resistance repeatedly and is finally a D candle closed above 4/1 Gann Fan resistance
we expect the pair might reach new higher highs after this and would reach the expected target
GBPJPY pair is on high resistant areas a chance of 100+ pips down might expected...! on breaching the resistance might increase the chances of going up....!
For coming week Bulls need to hold 10850 range, for the up move to continue towards 10960/11100. 5FEB -7 FEB are important time cycle dates for coming week, Any close below 10700 can see fast move 10600/10450
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.
BAJAJ FINANCE is moving in an up channel for over a month now.
Ranging in the yellow zone on this leg, and testing the edge of channel
Creating smaller range and small bodied candles,indicating a breakout soon (in any direction).
or it can continue to move between the range created. before breaking out of dashed pink lines
Also respecing the Gann Fan Levels
NSE:NIFTY bounced from Gann Fan support of 2/1. Going long is feasible as soon as these supports are not violated. If they are deceived a Short should be made in it .
Expect a strong bounce back to 310 levels if the stock holds current levels.
It is trading near the confluence level and the level will act as a strong support.
Analysis based on fibs
This stock follow Gann Angles very effectively, Hence all good till it does not close below 148
Target 170 and more.
Small SL hence take the trade or keep holding.
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