It is a rabbit hole. Traders are constantly staring at lines and charts trying to make connections, coincidences and meaning behind it all. When in reality they're not doing anything meaningful with depth and understanding. It's all rather just blind, surface, logic and tracing. The market truth and way is out there but it has to be discovered and understood. Once you understand how the elements and variables shape things you can reasonably predict the S&P everyday. When to strike and when to close the position. And when to stand down, if no expected opportunity is present.
If you take Gann square of 9, with Fibonacci between the lines of the square of 9, you will see prices respect all of those lines. If you implement on top of that the pivot indicator described here on the forum, you have a very robust way of picturing price action. Next step is the time action, where time and price square. This gives the major turning points. When you have all this, you can see where it goes and when. Then you can throw it in the carbidge can and just focus on cutting your losers short and letting your winners run, with position sizing to make money.
but there is this - Alexander Elder, in his book Trading for a Living, said Gann could not support his family by trading but earned his living by writing and selling instructional courses. Larry Williams stated that Gann was just a good promoter, not necessarily a good stock trader. of the 10 rooms of gann in their name + the other 12 that claim trade his style none actually have a track record or actually trade
1 does and he is the best commodity trader in the world .. so that's why i don't dismiss Gann. also if we judge brilliance by the amount of money you have then where would Einstein rank ? larry williams and alex elder should not be a benchmark for traders.
I know for a fact that the method of Gann works. But I also know that there is more then a working method necessary for a wealthy life. Basic habits make or brake the end results. Livermore is a perfect example of this. Great trader, great wealth, poor life, tragic death. Doesn't mean his methods of trading where no good... same with other trader examples. Everyone will write their own story.