To: flatsville who wrote (57685 ) 8/3/2000 9:59:41 AM From: HairBall Read Replies (1) | Respond to flatsville: The Fibonacci Fans study displays three Fans as lines at Fibonacci intervals of 38.2%, 50.0% and 61.8%. They are constructed by choosing an important top and bottom. An imaginary vertical line is drawn connecting the top and bottom, and three retracement points of 38.2%, 50%, and 61.8% are marked on the line. Trendlines are then drawn from the first extreme point intersecting all retracement marks. If any individual fan line tracks the price movement of the security, it's interpretation is of any support or resistance trendline and penetration through it may be significant depending on the time and slope of the price movement.Gann Angles study displays three lines that rise or fall relative to the x and y axis's of the Chart. Gann Angles were developed by William D. Gann, a legendary stock and commodity trader. They are trendlines drawn from a significant extreme point (top or bottom) at specific slopes or angles. These angles are computed in terms of price and time units with a 45 degree gann angle trendline that has a slope of one price unit per one time unit.. The 45 degree gann angle is the most significant and its breaking by a price movement may signal a major reversal. The 26 1/4 degree gann angle has a two price unit per one time unit slope. The 63 3/4 degree gann angle has a one price unit per two time unit slope [Murphy] Bibliography.
