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Friday, March 29, 2024

Gann Angles on the Dow Jones Industrials – Update

Courtesy of Read the Ticker.

gann-angles-on-the-dow-jones-industrials--updateA trend lines requires 2 points to draw, and Gann Angle only requires 1 point, a huge difference. Something  is going to break soon!

Previous Post here

Why?

Simply that Gann Angle is not determined by price pivot points at the last price end, where as a trend line is. That is the beauty!

Price is still holding true to the blue 2×1 Gann Angle. This angle is the demand line, this is why we need to pay  attention to it.

As stated before .."As you can see price is now entering a pinch zone, it will bust out either way."… soon the fun will start.

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INDU gann angle

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote…

..”Nothing new ever occurs in the business of speculating or investing in securities and commodities.”..

Jesse Livernore Trading Rule

..”Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception”..

George Soros

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