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Gann Square is a well known technique of W. D. Gann. The square chart provides traders with very accurate forecast on market support and resistance levels. It was said that W.D. Gann had once traveled to Egypt where he gained the knowledge of ‘Square’. Essentially, Gann Square is the structure of Egyptian Pyramid.
Gann Square Theory can be divided into two streams:
1. Cardinal Square on Price; and
2. Cardinal Square on Time.
The square on price calculates price support and resistance levels while square on time forecasts market reversals or reactionary days, weeks, months or even years, depended on the time frame of reference.
Besides, W. D. Gann also used another type of Square extensively, which was called Square of Nine. Square of Nine combines 9 units of price and 9 units of time to form a square with 81 cells. This Square chart also provides traders with market supports and resistance, both in price and time dimensions.
(Source: www.acrotec.com) |
