While W. D. Gann continues to be one of the most controversial figures in technical analysis, many of his theories have been successfully adapted by several generations of traders.
In this fully revised and updated Second Edition of Pattern, Price & Time, expert technician James Hyerczyk presents an accessible overview of Gann Theory, its basic principles, and its proper application to real markets. And while Gann’s concepts are a prominent part of the book, Hyerczyk adds some of his own original ideas to the discussion and offers insights into using technical analysis to trade today’s Forex, futures, and equities markets.
Written with both the expert and aspiring trader in mind, this reliable resource skillfully examines the key elements of technical analysis—pattern, price, and time—by highlighting the proven trading techniques of Gann, and explores how these three elements can help you anticipate market movements and make more informed trading decisions. Unlike other analysis or trading disciplines, Gann analysis can be used in conjunction with other popular trading tools such as pivot points and candlestick charts. In fact, Pattern, Price & Time, Second Edition is written so that the reader can use Gann techniques to complement most trading strategies. The procedures highlighted will enhance a trader’s ability to make sound market decisions because it teaches the importance of balancing analysis with the right amount of pattern, price, and time.
Opening with a brief introduction to Gann, his theory, and the importance of having accurate data and charts, Pattern, Price & Time, Second Edition moves on to address other essential issues associated with this discipline, including:
Building swing charts using the minor trend, the intermediate trend, and the main trend
Using horizontal support and resistance levels to find balance points in the market
Calculating Gann angles for different markets
Understanding the various ways that time can be used to determine tops, bottoms, and changes—from the most difficult method (natural cycles) to the most popular method (the squaring of time)
Combining pattern, price, and time into an effective analysis and trading tool
And much more
After the first edition of Pattern, Price & Time was published, Hyerczyk received criticism that he was holding back on Gann’s secrets. This couldn’t be further from the truth, and in order to prove this, Hyerczyk points traders, who want to study the metaphysical aspects of Gann analysis, in the right direction. Hyerczyk also reveals what he believes is the source of Gann’s Law of Vibration and, in an effort to further enhance your trading performance, includes a link to the TradeStation code for his trend indicator. This will allow you to create swing charts in the same manner as W. D. Gann.
To profitably trade today’s markets, you can’t rely on pattern, price, or time independently. You must apply a combination of these three elements to improve your analysis and trading—and with the Second Edition of Pattern, Price & Time as your guide, you’ll quickly discover exactly how.