Friday, January 20, 2012

Gann levels and intraday

I am testing Gann levels on Nifty for quite some time. Now I am enjoying to count and watch Nifty accordingly. I have noted down some advantage of Gann Levels
  1. It never change hence easy to memorise
  2. It has not calculation involved (except once)
  3. Easy to match with other level (Pivot, Camerilla, Fib Point)
Some times it happens that we did not calculate pivot and doubt on fib or Camerilla at that time, you can look at Gann level for confirmation. Will update you about more finding in next blog.
Today what happened in last 10 min is not understood my me. I am still looking for the reason and I am sure as a human being I will come out with some reason which will satisfy my understanding. But it clearly made us believe one more time the importance of stop loss. Bears were lurking full day and in 12th hours bulls took the cake and walk away, which left all frustated. Bulls because of missing time and bears because some one spoil the party.

Hence once again a good advise, maintain your stop loss to enjoy the party irrespective of nifty movement.