My study of technical analysis began with taking the charting class at the CME taught by Ken Shaleen. I learned that technical analysis is more art than science, so, I made the decision to form my own opinion of technical market analysis. I began keeping my own charts by hand and either purchasing or checking out books from the library at the CME and CBOT. Books by authors such as: Edwards & McGee, Elliot, Wychoff, Wilder, Gann, Skalrew, Ross,Hill, and others. After keeping many charts and book study the core of my analysis is based on Gann, Hill, Elliot, Fibonacci, and Moving Average techniques. I am a firm believer in the K.I.S.S. Principle (Keep It Simple Stupid) as I feel that with the many ways to look at the market, simple is best. You don't have signals in conflict when pulling the trigger on a trade. You see the trade, you make the trade. And use STOPS. Let me repeat, ALWAYS USE STOPS.
Gann, however became a major focus in my analysis, his fan lines and percent retrace levels are an important part of how I pick action levels in the marketplace. There are other aspects of Gann's techniques and teachings that are obscure and confusing to many of his students. Gann Squares, Hexagons, and Astrology was too complicated and time consuming at the time to be used in my analysis of the markets.
I then came upon the above statements which changed the way I look at Gann's analysis of the marketplace.
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