Investment guru-Gann

Willian d gann, one of the most famous investors in the 20th century.

Willian D. Gann's outstanding achievements in the stock and futures markets are unparalleled so far, and his theory of combining time and price perfectly is still talked about and respected by investors.

Gann was born in Ravdin, Texas, USA on June 6, 1978. His parents are Irish immigrants. In his investment career, the success rate is as high as 80%~90%. He made a huge fortune with small money, and made a net profit of $350 million from the market during his 53-year investment career.

1902, 24-year-old Gann entered the market for the first time to buy and sell cotton futures.

From 65438 to 0906, Gann went to Oklahoma as a broker, both for his own speculation and to manage customers.

1908, when Gann was 30 years old, he moved to new york and set up his own brokerage company. On August 8 of the same year, he developed his most important market trend forecasting method, which was named "Controlling Time Factor". After many accurate predictions, Gann became famous.

The most striking thing is a field trip by Richard. Wycoff, editor of Securities and Investment Digest, from June 65438 to June 0909. Under the supervision of the magazine staff, Gann made 286 transactions in the twenty-five market trading days in 10, with 264 gains and 22 losses, with a profit rate of 92.3%.

According to Kealey, Gann's friend, "In the summer of 1909, Gann predicted that the wheat option would meet 1.20 in September. However, by September 30th, Chicago time 12: 00, the option was still hovering below $65,438+$0.08, and Gann's prediction was dashed. Gann said: "If there is no $65,438+0.20 at the close today, it will mean that my whole analysis method is wrong. Regardless of the current price, wheat must see $65,438+$0.20. "As a result, one hour before the market closed, wheat rushed to $65,438 +0.20, which shocked the whole market. The contract is fair, and the transaction price is $65,438 +0.20. "

At the peak of Gann's career, he hired 25 people to make various analysis charts for him, conduct various market trends research, and set up two trend research companies: Gann Science Service Company and Gann Research Company, and published various investment newsletters. In the annual trend forecast he publishes every year, he clearly draws the forecast trend chart of when to look at what price, which is very accurate.

Gann believes that there are natural laws of the universe in stock and futures markets, and the price trend of the market is not chaotic, but can be predicted by mathematical methods. Gann's mathematical equation is not complicated, the essence is that the price movement must follow the support line and resistance line, that is, Gann line.

In order to fully understand Gann's theory

I have always found Gann's theory obscure. However, when I read Gann's book Forty-five Years of Wall Street in detail recently, I found that this is not the case. We need to update our old impressions of Gann and Gann's theory. A more comprehensive understanding of Gann's theory will help investors get better investment returns.

At present, Gann's time cycle theory, Gann's angle line, wheel in wheel, etc. , are popular, there are many experts, as well as Mr. Zhong's Gann theory and how to build a series of articles in the mainland stock market. However, in fact, these are only part of Gann's theory-the price analysis part. Personally, I think the more important part of Gann's theory, the operation strategy part, is rarely mentioned. This situation makes the impression of Gann theory in the eyes of investors incomplete or even wrong. The complete Gann theory will surely enable investors to better grasp market opportunities. Although I dare not say how much I know about Gann's theory, I hope to express my feelings in words for investors' reference.

Gann's full name is William delbert Gann, and he was born in Ravdin, Texas, USA on June 1878. As a teenager, Gann sold newspapers and telegrams, postcards, food and trinkets on the train. Gann's glory that is talked about by the world is 1909. He made 10 times in 25 transactions! Gann, who remarried this year, was interviewed by the famous magazine Stock Quotes and Investment Digest at that time. Under the supervision of the magazine editor, Gann made 286 transactions in 25 trading days, of which 264 were profitable and the other 22 were losses. The odds are as high as 92.3%, while the funds increase by 10 times, with an average trading interval of 20 minutes. During his career on Wall Street, Gann earned about $50 million. Today, it is equivalent to more than 500 million dollars. Although his wealth is nothing compared with other investment masters, I think the most important thing is that he earned the wealth he deserved by his new discovery.

Most supporters of Gann's theory are proud of Gann's winning rate of 92.3% in 286 transactions with his original theory, but I don't think this is the reason for Gann's success. Gann has published some stock books, but none can really reveal the secret of Gann's success more than 45 years of Wall Street. In this book, the words I see the most are not Gann angle line, time period or wheel in wheel, but the words "stop erosion list". In the second chapter alone, the "no entry list" appeared eight times. Gann pointed out its importance every time it appeared.

Gann said that most people lose money in the stock market for three main reasons:

(1) Overtrading or trading too frequently;

② No stop loss order;

③ Know little about the market.

Obviously, to win money in the stock market, we must avoid the above three mistakes. What is over-trading? My understanding is that every enterprise should not always go in and out of the warehouse. Actually, this is not particularly important. Most importantly, when you speculate rather than invest in the market, it is important not to over-trade when you buy and sell frequently. Too frequent buying and selling is the achilles heel of failure. Think about it, while you are striving for profits for yourself, you have to raise a securities company, which is a heavy burden.

Not placing a stop loss order is also a common mistake made by investors or they don't know it at all. I often hear or see investors complain that the market price of their stocks is far lower than their purchase price. If he is going to invest in a company's stock for a long time, he will never complain because the stock price has plummeted. If he is a speculator, he should definitely set a price. As long as he falls below this price, you should sell the stock at the first time anyway. Gann's suggestion in the book is that the stop loss order should be set at 3-5% below the purchase price. Considering the wide fluctuation range of China stock market, investors can relax the range of stop-loss orders, such as 5- 10%. The consequence of not setting a stop loss order is to watch the stock price break, for example, at the beginning of last year, Internet stocks. Smart people will place a stop loss order, set a stop loss position, and leave at any time once the situation is reversed. Otherwise, internet stocks that have fallen by 50% so far abound, teaching everyone how not to be sad.

Gann asked investors to learn to judge the market trend. Because smart people don't blindly follow the trend, but have their own opinions. When the variety stocks rose from 20 yuan to 60 yuan, you published an article to demonstrate why they were worth 60 yuan, and even jumped to 100 yuan. What does this prove? Now the stock price of Variety shares has fallen by more than 40%. Is it because the market has not found its value?

During his forty-five years on Wall Street, Gann did not repeat the rules in his books The Truth of the Stock Market, Wall Street Stock Pickers and New Stock Trend Detector. I think it is wise to end it. Even if the reader fully grasps his method of analyzing trends, it is impossible to succeed without following the trading rules. Therefore, Gann reveals his success in the second chapter of this book. He said that these 24 winning rules are all based on personal experience. Due to copyright issues, I can't list them in detail here, but I can briefly comment as follows:

(1) Never over-trade. Only a small amount of money can be used for each transaction. The essence of this practice is to "stay in the green hills, not afraid of burning without firewood", and its stability can be imagined. Nowadays, investors always dare to enter, and Man Cang's operation is not stable.

(2) Stop loss orders are extremely important, whether it is profit or loss. Do not cancel the anti-corrosion list after it is set.

The way to speculate is to follow suit. Don't go against the market. If you can't determine the trend, don't buy or sell in the market. Dividends, stock prices and amortized cost are not good reasons to enter the market.

(4) Be careful when overweight, covering positions, cutting positions, flipping or flipping. If the reason is not sufficient, maintain the status quo.

When you earn a lot of money, take a break in time to avoid increasing transactions.

6. don't lose big because of small things. If you invest 3-5% in the stock market, it will easily lead to large-scale losses. Investment should grasp the main trend of the stock market. Gann thinks that people who run the price difference can't make money.

Readers can see that Gann has been groping in the speculative market for decades, and the trading rules he summed up are actually very simple, and there is nothing profound. In my opinion, these trading rules are Gann's success, and the "Gann Theory" only makes it icing on the cake. In fact, the winning way of investment (speculation) lies in stability. No successful investor has made huge profits because of his own initiative. Most successful investments don't make difficult moves. Successful people value high profits, not trading skills.

Gann's prediction about the next few years (1950- 1953) in the last paragraph of Forty-five Years of Wall Street is obviously wrong. 1949 American economy is in trouble, and Gann is bearish on the economic performance of 1950- 1953. However, the fact is that the GDP of the United States has resumed rapid growth at 1950- 1953. On the contrary, Gann thinks that it bottomed out at 1953 and fell into recession at 1954. Even so, it doesn't affect the reading value of this book, because from this book, we can learn more comprehensive and true Gann.

A summary of Gann's theory

Gann's theory mainly focuses on the research of market measurement. Gann established his own unique analysis method and market measurement theory through the comprehensive application of mathematics, geometry, religion and astronomy. Because his analytical method has a very high accuracy, sometimes reaching an incredible level, many researchers of Gann theory attach great importance to Gann's market measurement system. However, in addition to the market measurement system, Gann has also established an operating system, and when the market measurement system fails, the operating system will remedy it in time. Gann's theory can achieve very high accuracy because the market measurement system and the operating system are used together and complement each other.

Gann published his last important book, 45 years of Wall Street, on 1949. At this time, Gann was 72 years old, and he frankly disclosed the way to win the market for decades. Among them, twelve trading rules of Gann are an important part of Gann's operation system, and Gann has also formulated twenty-one trading rules in its operation. Gann strictly follows the twelve trading rules and the twenty-one trading rules.

Gann believes that trading must be carried out in accordance with a set of established trading rules, rather than buying and selling at will and blindly guessing the development of the market. With the change of time, the market will also change, and investors must learn to change with the change of the market instead of recognizing the truth.

Gann warned investors: Before you invest, please study the market carefully, because you may make the wrong buying and selling decisions completely opposite to the market, and you must learn how to deal with these mistakes. A successful investor is not always right, because in the face of the ever-changing and unpredictable securities market, anyone may make mistakes, even serious ones. But the key to success or failure is that the winner knows how to deal with mistakes and prevent them from expanding; And losers make mistakes because of indecision, causing greater losses.

Gann believes that there are three major reasons that will lead to heavy losses for investors:

1, excessive trading on limited capital. That is to say, the operation is too frequent, and the short-term and ultra-short-term in the market require high operating skills. Before investors have mastered these operating skills, too much emphasis on short-term will often lead to no small loss.

2. Investors did not set a stop loss point to control losses. Many investors have suffered huge losses because they have not set a suitable stop loss point. The result is that their mistakes are allowed to develop indefinitely and their losses are getting bigger and bigger. Therefore, learning to set a stop-loss point to control risks is one of the basic skills that investors must learn. There are also some investors, even some market veterans, who have set a stop loss point, but they have not resolutely implemented it in actual operation, resulting in huge losses due to ideological differences.

Lack of market knowledge is the most important reason for losses in market transactions. Some investors do not pay attention to learning market knowledge, but take it for granted or subjectively imagine the market, and can't tell the truth from the false. As a result, he was misled by mistakes and suffered huge losses. There are also some investors who just use the knowledge they have learned from some books to guide practice and apply it indiscriminately, resulting in huge losses. Gann emphasized market knowledge and practical experience. And this kind of market knowledge often takes a long time to really understand in the market.

Many parts of Gann's market measurement system are abstract and difficult to understand, but Gann's operating system and trading rules are clear and easy to understand. Gann's operating system is mainly based on following the market, which is completely different from his forecasting system. Gann clearly separated the trading operating system from the market forecasting system, so that he could engage in speculation in an invincible position in a turbulent and crisis-filled era.

The essence of Gann's theory is to establish a strict trading order in a seemingly disorderly market. He established Gann's law of time, Gann's law of price, Gann's line and so on. You can use it to find out when the price will be adjusted back and to what price.

The mathematical expression of Gann line has two basic elements, price and time. Gann combines price and time perfectly through Gann Circle, Gann Spiral Square, Gann Hexagon and Gann "Wheel in Wheel". In Gann's theory, seven is a very important number. Gann often uses "seven" or multiples of "seven" when dividing the market cycle. Gann believes that "Seven" combines the concepts of nature, astronomy and religion.

Gann line is an important concept of Gann theory and investment method. Gann establishes time on the X axis and price on the Y axis, and the symbol of Gann line is represented by "TXP". The basic ratio of Gann line is 1: 1, that is, a unit time corresponds to a price unit, and the Gann line at this time is 45 degrees. Through the analysis of the market, Gann is divided into three or eight shares, such as 1/3, 1/8 and so on. These Gann lines constitute the support position and resistance position of the market callback or rise.

Through Gann theory, we can accurately predict the trend and fluctuation of market prices and become the winners of the stock market. Of course, Gann's theory is not perfect, and you can't expect him to make you rich overnight, but after hard work and understanding the true meaning of Gann's theory in practice, he will certainly benefit you a lot.

1, knowledge:

I can't say much about acquiring knowledge. You can't acquire knowledge without spending time on research. You must give up looking for shortcuts to make money in the securities market. When you take the time to learn knowledge in advance, you will find it easy to make money. The more time you spend acquiring knowledge, the more money you will earn in the future. Knowledge is not enough. You must apply what you have learned and benefit from it. If you apply what you have learned, you can act and trade at the right time, thus making a profit.

2. Patience:

This is one of the most important conditions for success in the stock market. First of all, you must wait patiently for the exact buying or selling point, and then decide to enter the market when the opportunity comes. When you trade, you must wait patiently for the opportunity to leave in time to make a profit. You must make sure that the trend has really changed before you can make a deal and make a profit. This is the only result after studying the past market changes. Get the right knowledge you need from it.

3. inspiration:

A man can get the best gun in the world, but he has no inspiration to pull the trigger. He can't kill any enemies. You can get all the knowledge in the world, but if you don't have the inspiration to buy and sell, you can't make a profit. Knowledge inspires people and gives them the courage to take action at the right time.

4. Health:

Unless this person is in good health, it is impossible to achieve great success in any career. Because a smart heart can't work under a weak body. If your health is damaged, you will not have enough patience or inspiration. When you are in poor health, you will be dependent, you will lose hope, you will have too much fear, and you can't take action at the right time.

I have been engaged in all the transactions in those years, and anything that may happen in future transactions has happened to me, and I have learned something from the experience. When I am in poor health, I am tired of trading, and trading always fails. But when I was full of energy, I entered the market at the right time and achieved success. If you are in poor health, the most important thing is to get you back to your best health. Health can make you rich.

5. Funds:

When you have obtained all the qualifications for successful securities trading, you must have funds. But if you have knowledge or patience, you can start to get big profits with a small amount of money. It is recommended that you use stop loss: reduce losses and avoid overdraft transactions.

Remember never to deviate from the trend. When you decide the market trend, follow it. Follow the law to determine the trend, and don't trade with speculation and hope.

Gann 2 1 Code of Practice

Gann, a famous founder of Gann theory and a world-class master in the history of the securities market, has always won 350 million dollars from the market with his superb operational skills (Gann was born in 1878), and his success rate of trading times exceeds 80%. In the eyes of investors in the securities market at that time and today, he is indeed a top figure close to "God", and the "Gann Theory" he founded still enjoys the status of "God" and is worshipped by people.

However, when we study Gann as a whole, we can find that Gann, as a master forecaster, and Gann, as a market expert, are the same person, but he clearly and calmly separated his forecasting theory from his actual operation: although his forecasting was serious (Gann published a book about his market and economic situation every year for a period of time), in actual operation, he did not completely let the forecasting lead him, on the contrary, he only. The forecast is correct and does not violate its trading rules. He operated in the predicted direction; When the forecast is wrong, he uses trading rules (such as stop loss orders) to either correct the forecast or simply admit his mistake and quit.

Trading rules are more important than forecasting! This is the real secret of Gann's victory.

However, there are still many stock market investors who believe that Gann won the market victory purely by his magical theory, so they are busy studying and excavating Gann's theoretical system, hoping that once they master Gann's golden key, they will be victorious in the stock market like Gann. And this is really a cognitive bias.

There are still many people looking for other forecasting methods, hoping that one day they can find the secret weapon that will make him win the stock market easily and forever.

Unfortunately, this is like trying to create a perpetual motion machine, which is a big misunderstanding in people's understanding of the theoretical value of forecasting the stock market. Why is Gann's success that his trading rules are more important than his forecasting theory?

Let's take a look at the 2 1 Gann trading rules formulated and firmly implemented by the master who created such a profound forecasting theory. You and I will understand this. Gann established his own profound forecasting theory system like a god, and at the same time formulated his own operation code like us ordinary small shareholders, and won in the market with this-this is the master Gann we should interpret!

Gann 2 1 stock trading rules:

1. Every time you buy or sell in the market, you can't lose more than one tenth of your capital.

2. Always set up a stop loss position to reduce the possible losses caused by trading mistakes.

3. Don't buy and sell excessively.

Never let your position turn from profit to loss.

Never go against the market. When the market trend is not obvious, it is better to wait and see.

6. If you are in doubt, close your position and leave. Be firm in entering the market, and hesitate not to enter the market.

7. Buy and sell only in an active market. It is not suitable for business when business is slow.

8. Never set a target price to enter or leave, avoid entering or leaving at a limited price, and only obey the market trend.

9. If the position held is not closed without proper reasons, you can use the stop-loss profit to ensure the profit.

10. After Lien Chan succeeds in the market, he can extract some profits for a rainy day.

1 1. Don't buy stocks just for dividends and interest. (Earn the first price difference in the market)

12. When the business loses money, gamblers are forbidden to increase the price to reduce the cost.

13, don't enter the market because of impatience, and don't close your position because of impatience.

14, willing to lose rather than win, quit. Don't do business that pays more and earns less.

15, don't cancel the stop loss when entering the market.

16, make many mistakes, enter the market and wait for the opportunity, and the business should not be too secret.

17, short freely, not just unilaterally.

18, don't buy because the price is too low, and don't short because the price is too high.

19. Never hedge.

20. Try to avoid the pyramid being overweight when you are uncomfortable.

2 1. If there is no justifiable reason, avoid changing the trading strategy of the stocks held at will.

Twelve rules of Gann's buying and selling

Gann's last important book is 45 years of Wall Street published by 1949. Gann's theory frankly reveals the way to win in the market for decades.

Gann believes that there are three main reasons why investors suffer losses in market transactions:

1) excessive trading on limited capital.

2) Investors did not set more than one loss plate to control losses.

3) Lack of market knowledge is the most important reason for losses in market transactions.

Therefore, Gann's advice to all investors is: Please study the market carefully before you lose money. Before entering the market, investors must understand:

1) You may make the wrong buying and selling decision;

2) You must know how to deal with mistakes;

3) Entering and leaving the market must be based on a set of established rules, and never blindly guess the development of the market.

4) Market conditions and time change frequently, and investors must learn to follow the changes of market conditions. Under different time periods and market conditions, market history will occur repeatedly.

Although these are platitudes, with the twelve important trading rules provided by Gann, Gann theory can exert its power.

Gann summed up 45 years of experience in investing and trading on Wall Street, and wrote 12 trading rules, which are self-evident, and are now listed for reference.

Gann's Twelve Trading Rules

1 Decide the market trend;

(2) in the single bottom, double bottom or triple bottom level approach;

3 buying and selling according to the percentage of market fluctuation;

4 buy and sell according to the three-week ups and downs;

5. Market segment fluctuation;

6 use the fluctuation of 5 or 7 points to buy and sell;

7 volumes;

8 time factor;

9 buy when there is a high or low point or a new high;

10 to see the turning point of the general trend;

1 1 the safest trading point;

12 price fluctuation in the fast market.

Gann established the whole trading system according to the principle of 12. Basically, the method used is purely technical, while the trading method is mainly based on following the market, which is completely different from his forecasting. Gann clearly separated market trading from market forecasting, which is why he became.

Twelve rules of Gann's buying and selling

Determine the trend

Gann believes that it is the most important thing for all markets to determine their trends. As for how to determine their trend, knowledge is among them.

He believes that for stocks, its average composite index is the most important to determine the market trend. In addition, the classification index is also quite enlightening to the market trend. Stock selection should be based on the market trend. If the above rules are applied to the foreign exchange market, the "dollar index" will reflect the foreign exchange trend.

When applying the above rules, he suggested that analysts use a special chart method. For the market index, the three-day chart and the nine-point average fluctuation chart should be the main ones.

The three-day chart means to record market fluctuations on the basis of three-day activities. These three days include Saturday and Sunday. The rule of the three-day chart is that when the lowest level breaks in three days, it means that the market will go down, and when the highest level breaks in three days, it means that the market will hit a new high.

In the painting method, you can follow the following steps:

1) When the market rises from a low level and a high bottom and a high point appear for three consecutive days, the line on the chart should be moved to the high point on the third day. If the market hits a new high on the third day after two days of decline, the line on the chart should move vertically upward to the high point of the day.

2) When the market hits a low level for three consecutive days, the line on the chart can be moved down to the low level on the third day. If the market continues to fall, the line on the chart can move vertically down to the low point of the day.

3) If the market hits a new high for three consecutive days, the "three-day chart" table will rebound.

In addition to the "three-day chart", Gann also suggested using the "nine-point average fluctuation chart" to analyze the market situation.

Nine-point chart of Hang Seng Index, with each unit equal to 10 point.

Gann's application is above Du Zhongsi's industrial average index 19 12 to 1949. Gann's statistics are as follows:

1) In the same period of 37 years, there were 464 times when the amplitude was 9 o'clock or above, and 54 times when it was less than 9 o'clock, with an average monthly fluctuation of 9 points.

2) From 9: 00 to 2 1, more than 50% of the market is ups and downs.

3) 25% of the market fluctuates from 2 1 to 3 1.

4) The market fluctuation range of about 12% is 3 1 to 5 1.

5) Of the 464 market ups and downs, only 6 were above 5 1.

Therefore, the market fluctuation of 9 points to 2 1 point is an important symbol of the market turning point.

The rule of "nine-point average fluctuation chart" is:

If the market rebounds below 9 points in the falling market, it means that the rebound is weak. If it exceeds 9 points, it means that the market may turn. If it exceeds 10, the market may rebound by 20 points. If it exceeds 20 points, the market may rebound further to 30 to 3 1 point, and the market rarely rebounds beyond 30 points.

For a rising market, the rules are the same.

When making a chart, if the market rises by more than 9 points, then the chart can rise. The chart moves up with the daily high point until the market falls to 9 points, and then moves down to the daily low point.

The "three-day chart" and "nine-o'clock chart" are very similar to the "point chart" we use now, and they are drawn in the way of following the market trend. However, Gann's above chart has several characteristics to pay attention to:

1) Gann's "three-day chart" determines the market trend with time, and the "nine-point chart" determines the market trend with the range of price fluctuation. Analysts know the market trend like the back of their hands.

2) Compared with the number of points, the turning point of the point chart is defined by the analyst, and whether it is successful or not depends on the analyst's understanding of the market. Gann's nine-point chart is based on statistics, and the probability of success at nine is nearly 88%.

In the practical application of the "nine-point chart", analysts should first understand the average fluctuation range of the trend in the analyzed market (such as foreign exchange market), and the range should be more than 50% of the occurrence probability.

Second, buy at single bottom, double bottom or triple bottom.

Gann's second trading rule is simple. When the market is close to the previous bottom, top or important resistance level, enter the market in the form of single bottom, double bottom or triple bottom.

Figure 4 Buying from the front bottom or top

This law means that the bottom of the market used to be an important support level and can be absorbed into the market. In addition, when the previous top breaks through, the resistance becomes support, and when the market price falls back to the top level or slightly below the top level, it is an important buying opportunity.

On the contrary, when the market reaches the top, and there are single tops, double tops or even three tops, it is time to short. In addition, when the market price falls below the previous top, and then the market price rebounds back to the previous top level, it is the time to short.

Sell goods at the top or bottom of the front

However, investors should pay special attention to the fact that if there is a fourth bottom or a fourth top in the market, it is not a motor that attracts or shorts. According to Gann's experience, there is a great chance that the market will break through four times from the top or four times from the bottom.

When buying and selling in the market, investors should remember to set a stop-loss disk. If they don't know how to stop corrosion, they shouldn't enter the market. The baffle plates are generally arranged on the top according to the amplitude of double top/three top.

Four times at the top and four times at the bottom.

Three. Buy and sell by percentage

The third trading rule is trading by percentage. Gann believes that there are two ways to enter the market as long as it is in line with market conditions:

1) If the market retreats by 50% at a high level, it is to buy.

2) If the market situation rises by 50% at the bottom, it is a selling point.

Buy at 50% of the high price; Sell at 50% of the low price.

In addition, the percentage level at the top or bottom of the market often becomes an important support level or resistance level of the market. The following percentage levels deserve special attention.

1) 3~5%

2) 10~ 12%

3) 20~25%

4) 33~37%

5) 45~50%

6) 62~67%

7) 72~78%

8 ) 85~87%

Among many percentages, multiples of 50%, 100% and 100% are important support or resistance levels in the market.

Adjust the level of wave support

Adjust the approach after four or three weeks.

When designing his fourth trading rule, Gann made a very extensive statistics on the financial market. He summarized the transactions that rebounded or adjusted in the market as two points:

1) When the mainstream trend of the market is upward, if the market price is adjusted for three consecutive weeks, it is a buying opportunity.

2) When the mainstream trend of the market is downward, if the market price rebounds for three consecutive weeks, it is an opportunity to sell.

When the market adjusts or rebounds against the trend, Gann believes that we must pay attention to the development of the market situation in the following time:

1) When the market rises or falls for more than 30 days, the next time to pay attention to the peak or trough of the market should be 6 to 7 weeks.

2) If the market opposes