Introduction: Gann levels are a popular technical analysis tool used by traders to identify potential support and resistance levels in the market. These levels are based on the work of W.D. Gann, a famous trader and market theorist who developed a unique approach to trading. In this blog post, we will discuss how to trade Gann levels and use them effectively in your trading strategy.
Understanding Gann Levels: Gann levels are based on a series of angles that represent the relationship between price and time. These angles are drawn from key pivot points in the market, such as swing highs and lows. The most commonly used Gann angles are 1×1, 1×2, and 2×1. The 1×1 angle represents a 45-degree angle and is considered the most important angle in Gann analysis.
Using Gann Levels to Identify Support and Resistance: Gann levels can be used to identify potential support and resistance levels in the market. When price is moving in an uptrend, the 1×1 angle can be used as a support level. Similarly, when price is moving in a downtrend, the 1×1 angle can be used as a resistance level.
The other Gann angles, such as the 1×2 and 2×1, can be used to identify potential support and resistance levels as well. These levels are often referred to as “minor” support and resistance levels and can be used in conjunction with the 1×1 angle to confirm trends and potential entry and exit points.
Using Gann Levels with Other Technical Indicators: Gann levels can also be used in conjunction with other technical indicators, such as moving averages, to confirm trends and potential entry and exit points. For example, when price is above the 1×1 angle and the 50-day moving average, this can confirm an uptrend and be a potential entry point for long trades.
Conclusion: Gann levels are a powerful tool that can be used to identify potential support and resistance levels in the market. While they can be effective on their own, they are best used in conjunction with other technical indicators and a solid trading strategy. As with any trading strategy, it is important to backtest and practice with Gann levels to find the best approach for your trading style.
Trend Deciding Level:2389
Weekly Resistance: 2414,2438,2463,2499
Weekly Support: 2364,2339,2314,2290,2265
Trend Deciding Level:2659
Weekly Resistance: 2684,2709,2735,2760
Weekly Support: 2634,2608,2583,2558
Trend Deciding Level: 1486
Trend Deciding Level: 870
Weekly Resistance: 878,886,892,900
Weekly Support: 862,856,848,840
Trend Deciding Level: 1619
Trend Deciding Level: 3341
Weekly Support: 3313,3284,3256,3228
Trend Deciding Level: 563
Trend Deciding Level: 1752
Weekly Resistance: 1769,1790,1811,1831
Weekly Support: 1729,1708,1687,1666
Trend Deciding Level: 387
Weekly Resistance: 390,393,396,399
Weekly Support: 384,380,377,374,370
Trend Deciding Level: 2485
Weekly Resistance: 2511,2536,2562,2588,2614
Weekly Support: 2466,2450,2433,2400
All prices relate to the NSE Spot/Cash Market
Keep Max SL of 1% Fron Entry