Coming from you, they are especially appreciated. You know, I took some time to generally skim through the work that Gann did from a Macro perspective, and was just blown away. This guy took about every means imaginable to analyze price, then he locked in his buys with lazer precision, protected by stops. He had “moving support and resistance lines” that conformed to price movement………..and to top it all off, if one of about 11 ways of looking at the trade failed- he was out. That is about as methodical and three-dimensional as you can get, me thinks.
Unfortunately, Gann did not have computers to use for the bulk of his work so he had to work everything out on arithmetic charts and with mathematical formulas. Yet, he used “angles” and he did heavily use “pattern recognition”, but he used it in two ways. Most attention is to his use of formations like the inverse head and shoulders along with the associated construction of support lines not to be violated…………..but he also used similar pattern construction- fractals………. along with “cycle work”-different time periods with similar fundamentals/ fundamental changes.
In a phone call, I think Sckpac hit the nail on the head when he suggested that all of these techniques are simply a search for “the driving force of the market- market pricing.” Steve has a wonderful gift for understating what is not so obvious, and those words opened up a whole new world to me, last year. A great night to all…………….Gr.