EURUSD 1.1737 USDJPY 112.00 USDCAD 1.2787 EURCZK 25.544 USDCZK 21.759 EURPLN 4.2294 USDPLN 3.6034
EURUSD 1.1737 USDJPY 112.00 USDCAD 1.2787 EURCZK 25.544 USDCZK 21.759 EURPLN 4.2294 USDPLN 3.6034

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Learn the basics of financial markets

Gann Line is a simple tool indicating the direction of a current market tendency and its possible points of reversal

Rule of thumb

The Gann Line is based on the theory that the long-term trends follow a 45 degree line

 

As long as the prices remain above this line, the market tendency is considered to be bullish

The Gann Line is the most basic tool among the array of forecasting instruments based upon the theory created by W.D. Gann. The method is constituted by a line, drawn at an angle of 45 degrees, either ascending or descending. According to Gann’s theory, the trendline at 45 degrees represents a long-term trendline.

 

gann line, gann analysis

 

In the case of an ascending line, as long as prices remain above the trendline, the market is considered to be bullish. A fall of a price below that level may indicate a discontinuation of  a rising trend. On the other hand, prices below the descending line signal a significant downward market trend.

 

How to use it with MetaTrader 5:

  • Choose the option “Insert” in the main program menu, then  click “Objects”/”Gann” and  “Gann line”.
  • With the left mouse button press and drag to the left.

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