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Gann Fan

Trade plan EURUSD Consolidation Triangle Breakout patternEURUSD when I was analyzing and setting up the Dual GANN Fans I noticed that the pattern that is actually printing is 60% of a large Triangle that a breakout will occur in the future....if so I can see where price can rise (if the USD falls again) and consolidate in this pattern until BREAKOUT occurs. My educated guess is around Sept/Oct timeframe in-line with a DXY major reversal point that would drive this to break out.
Long
by TradingMasterMind
Identify the downtrend by using Gann Fan What Are Gann Fans? Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes. How it works? The 45-degree line is known as the 1:1 line (Dashed black line on the chart) because the price will rise or fall at a 45-degree angle when the price moves up/down one unit for each unit of time. In both an uptrend and a downtrend, the 1:1 line can help to detect a reversal. In a downtrend, a price that stays below the 1:1 line is considered bearish. In an uptrend, a price that stays above the 1:1 line is considered bullish. Thus the 1:1 line can serve as a resistance and support line. Source: Investopedia Please like and share. Thanks
by ir0nhand