When a TREND is going on, you can easily figure out if its is going to FAST, SLOW or within a NORMAL sustainable trend line angle. If trend line is going to FAST/STEEP then supports and resistance area's will not assist you in knowing when a sudden retacement will occur in PRICE ACTION , back to a more NORMAL & sustainable price action SPEED of buying/selling. Angle of the current trends TELLS you how strong either BEARS or BULLS have control over any pair.
On EUR/USD 1 DAY chart-- trying to show what I'm saying in this POST. Lower then 30 degree TREND will produce big move for BULLS. Higher then 45 degree TREND will produce sudden moves for BEARS. Reason for correlation is that TRENDS have a normal angle level or MIDDLE (30-45 degrees) which they gravitate too, green area on chart.
* I picked this EUR/USD 1 DAY chart because the low of 1.05168 up to high of 1.16163 when trend angle line was placed by connecting these TWO points--- a perfect 45 degree trend angle was seen. That is why after one fast/steep fast initial TREND into RED area price action came back into GREEN area where it stayed until current breakdown of trend into YELLOW area, which is going on now. Another brick of knowledge for you to building trading house with.
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NJ81
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i would also like to know, how you square your chart?
Hauck01
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How do you square your chart so that you have consistent angles? If you draw a 45 degree angle, but then zoom out or move around your charts that angle moves. So the angle of the line depends on how zoomed in on your chart you are.
If you know of a way to square the chart so you you know how get consistent angles please let me know.
Thank you!
BitcoinTradingRoom.com
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@Hauck01, lay the Gann tool and then draw straight lines based on the tool. the straight lines will scale.
Anbat
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@BitcoinTradingRoom.com, I do these charts, so we all can benefit. These type of little bits of wisdom can be used in any type of trading. Thanks, about Gann Tool.
Sebrox
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@Hauck01, Just lock the price scale BEFORE drawing the trend lines. Then when you zoom in or out the angles never change. Hope that helps!
digitalventuremovement
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@Sebrox, that was my question because i seen as you zoom in and out the price would change
jayved
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best
impossiblehumn
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Use the sib speed resistance fan, otherwise your angles are contingent on the scale at which you're charting. Not reliable angle measurement.
cojackck
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you can t measure your angles. if you change you chart these angles will change dramatically. to use gann angles you have to square ur chart. (one unit of time for one unit of price)