股票期货突破技术分析(英文原版)-第21部分

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　The　National　Astronomical　Space　Administration　（NASA）　Web　site　is。a　gold　mine　of　scientific。and　historical　reference　data　that　Gann　analysts。can　use。　
Two　observationsncerning　the　planets。were　very　difficult　for　astronomers。of　the　Middle　Ages。to　explain。　The　usual　motion　of　planets　as。they　〃wandered〃　on　the　celestial　sphere　was。eastward　against　the　background　stars。　This。is。called　〃direct　motion”。　However；　it　was。observed　that　at　times。the　planets。moved　westward　for　a　period　on　the　celestial　sphere；　this。movement　was。termed　〃retrograde　motion”。　The　second　observation　that　was。difficult　to　explain　in　the　Middle　Ages。was。that　planets。were　brighter　at　certain　times。than　others。　

A　major　reason　for　the　difficulty　of　explaining　these　phenomena　was。the　influence　of　the　Greek。philosopher　Aristotle　on　medieval　thought。　His。philosophy　held　that　the　heavens。were　more　perfect　than　Earth　and　that　objects。in　the　heavens。were　unchanging。　The　representative　image　used　to　denote　heaven　and　earth　is　the　circle　framed　within　the　square。　This。is。a　Gann　charting　pattern　that　most　equate　with　his。famous。squaring　of　price　and　time。　
The　Copernican　system　banished　the　idea　that　Earth　was。the　center　of　the　solar　system；　thereby　giving　an　immediate　and　simple　explanation　for　both　the　varying　brightness　of　the　planets。and　retrograde　motion。　The　planets。in　such　a　system　naturally　vary。in　brightness。because　they　are　not　always。the　same　distance　from　Earth。　The　retrograde　motion　could　be　explained　in　terms。of　geometry—a　planet　with　a　smaller　orbit　moves。faster　and　appears。to　overtake　the　slower　planet。　This。is。similar　to　two　speeding　trains。heading　in　the　same　direction　on　parallel　tracks。　As。the　faster　train　catches　and　passes。the　slower　train；　there　is。a　brief　period　of　time　where　the　slower　train　appears。to　be　moving　backward。　It　never　actually　does。　
In　Figure　5。10；　the　perceived　path　of　Mars。shifts。from　tracking　cast　to　west　at　the　point　marked　R。　This。is。the　astronomical　symbol　marking　Mars's。entry　into　a　period　of　retrograde　motion。　When　the　planet　appears。to　track。from　east　to　west　again　as。perceived　from　Earth；　the　point　of　change　is。marked　〃D〃　to　indicate　Mars。has。returned　to　direct　motion。　
In　Figure　5。9；　the　planet　glyph　for　Neptune　is。Ψ。　When　this。symbol　is。notated　on　the　chart；　the　planet　is。returning　to　direct　motion。　When　Neptune　enters。a　period　of　retrograde；　the　glyph　convention　is。ΨR。　The　time　bullets。throughout　the　chart　show　a　correlation　to　inflection　points。within　the　Eurodollar's。history。　These　are　not　fixed　interval　cycles。　
Gann's　written　astrological　discussions。always。use　the　phrase　“the　study　of　natural　cycles〃。　This。is。but　one　simple　example　to　offer　a　conceptual　introduction　to　the　study　of　natural　cycles。　Time；　or　the　vertical　line　of　resistance；　was。the　most　important　trigger　for　Gann。　But　our　discussion　is。not　plete　until　confluence　is。detected　in　the　vertical；　horizontal；　and　diagonal。　Before　moving　on；　it's。important　to　notice　in　Figure　5。10　that　a　natural　cycle　is。not　a　fixed…period　cycle。　It　should　also　be　understood　that　each　ponent　within　vertical；　horizontal；　and　diagonal　analyses。has。its。own　method　of　creating　confluence　target　zones。through　the　use　of　multiple　projections。　This。in　turn　serves。to　increase　the　probability　of　each　ponent。　

In　Figure　5。11；　we　see　a　different　retrograde　cycle　plotted　within　a　weekly　Brent　crude　chart。　This。chart　maps。the　retrograde　cycle　of　Mercury。　This。chart　has。the　dimensions。of　horizontal　and　diagonal　analysis。we　need　to　explore　next。　
Running　behind　the　chart's。data　are　dotted　horizontal　lines。　Focus　on　these　lines。as　you　pare　the　price　data　directly　under　or　above　solid　black。blocks。throughout　the　chart。　These　horizontal　lines　are　harmonic。inflection　points；　all　radiating　from　a　single　price　pivot　we　will　look。at　more　closely　in　Figure　5。12。　At　this。stage；　just　study　the　numerous。highlighted　pivot　points　to　observe　how　this。market　is。respecting　the　background　grid　in　place。　The　grid　does　not　show　equal　spacing　between　each　line　through　the　range　of　the　chart。　Another　trait；　which　requires。an　astute　eye　for　geometric。proportion　to　detect；　is。a　repeating　pattern　that　forms。with　increased　spacing　at　the　higher　price　levelspared　to　the　grid's。spacing　nearer　the　bottom　of　the　chart。　There　is。a　logarithmic。function　to　the　grid。　For　now；　accept　diat　the　market　is。showing　some　respect　toward　the　horizontal　grid。　We　will　return　to　the　discussion　of　these　lines。　
Figure　5。11　is。partially　shaded　to　help　emphasize　the　diagonal　lines。through　the　chart。　In　the　middle　of　the　chart　are　two　parallel　lines。forming　a　channel。　The　price　high；　near　80；　demonstrates。Gann's　confluence　in　all　three　dimensions。of　vertical；　horizontal；　and　diagonal。　The　vertical　is。time。　We　see　at　the　high　a　Mercury　retrograde　cycle。　The　horizontal　is。price。　The　highest　rectangular　black。box　is。highlighting　the　price　target　on　the　horizontal　dotted　line。　Diagonal　is。the　geometric。measure。　The　price　high　is。testing　the　upper　diagonal　channel　running　through　this。chart。　Furthermore；　we　have　the　posite　Index　forming　the　kiss。under　the　rollover　of　two　moving　averages。following　divergence　that　was。discussed　earlier　for　the　RSI　in　Figure　5。3。　Look。at　points。X；　Y；　and　Z；　as。well；　in　the　posite　Index；　The　indicator　gives。permission　to　buy　or　add　at　the　support　zones。tested　by　the　market　on　the　dotted　lines。　Momentum　indicators。work。best　when　they　are　studies　at　specific。price　targets。to　offer　permission　to　take　action。　In　this　chart；　the　price　high　demonstrates。the　point　at　which　everything　es。together　at　the　same　time　and　place；　providing　a　high…confidence　sell　signal。　Understanding　how　the　diagonal　lines。were　created　is。critical　to　the　o　
because　these　lines。are　set　at　precise　geometric。angles。　

Gann　Angles　
The　weekly　chart　we　just　examined　in　Figure　5。11　was。actually　a　close…up　of　the　weekly　Brent　crude　chart　in　Figure　5。12。　At　first　glance；　it　looks　extremely　plex；　but　if　you　looked　at　a　chart　with　multiple　Fibonacci　retracements　without　guidance；　it　too　would　trigger　the　same　first　impression　as。a　Gann　chart。　Breaking　down　the　ponents。so　that　one　knows。what　to　focus。on　changes。the　entire　plexion　of　these　charts。　
The　diagonal　lines。are　projected　Gann　angles。　Many。software　vendors。offer　Gann　angles；　but　they　are　only　speed　lines。unless　precise　angles。are　used。　If　you　take　a　price　low　for　a　stock。trading　under　25　and　plot　a　line　with　a　growth　rate　of　1　for　one　unit　of　time；　or　1x1；　you　would　draw　a　45o　angle　within　the　chart。　On　a　puter　screen；　it　would　not　look　like　a　45o　angle；　because　the　number　of　pixels。on　the　width　of　your　screen　versus。the　height　is。not　equal。　When　you　use　a　Gann　angle　tool　without　precise　angles。defined；　you　are　only。creating　speed　lines。that　can　be　used　for　acceleration　analysis。　It　is　not　Gann　analysis。　The　process。bees。more　difficult　when　you　desire　a　precise　45o　angle　in　a　market　like　the　Nikkei　Stock。Index—it　is。not　realistic。to　use　1　versus。one　unit　of　time　for　the　rise。　
But　there　is。a　way　to　solve　the　problem。　Figure　5。12　shows。a　series。of　boxes。whose　corners。are　connected；　creating　a　cross。within　each　box。　Because　there　are　fifty…two　weeks。in　a　year；　the　weekly　chart　is。using　the　square　of　fifty…two。　But　if　you　look。closely　at　the　price　scale；　it　is。clear　that　one　box　does。not　cover　a　price　range　of　52。　Multiples。or　proportional　divisions。can　be　used　and　the　angles。within　the　original　square　of　fifty…two　still　retained　if　only　a　single　box　were　displayed　mapping　fifty…two　weeks。along　the　horizontal；　versus。52　against　the　vertical。　Although　one　large　box　is。not　useful；　four　boxes。and　sixteen　boxes。still　produce　the　same　angled　lines。across。the　chart。　When　the　internal　corners。are　connected；　the　grid　produces。both　positive　and　negative　true　geometric。angles。of　45o。　Therefore；　a　simple　solution　is。to　draw　the　Gann　boxes；　establish　a　true　45o　line；　and　then　remove　the　boxes。　The　outside　frame　of　each　box　is。a　fixed　cycle。　Gann　would　use　the　cycle　formed　by。the　Gann　boxes。in　several　ways；　including　further　subdivision　of　the　square　by　thirds。or　eighths。　However；　for　this。discussion　we　will　not　venture　down　that　road。　
The　Gann　angles。of　interest　are　the　1x1　（45o）；　1x2　（63。75o）；　1x4　（75o）；　and　1x8　（82。5o）；　and　occasionally　we　need　the　1x16　（86。25o）。　For　declines；　we　again　consider　1x1；　then　2x1　（26。25o　）；　4x1　（15o）；　8x1　（7。5o）；　and；　on　occasion；　16x1　（3；75o）。　Sometimes。the　1x3　and　3x1　are　used　with　angles。of　71。25o　and　18。75o　respectively。　Gann　discusses。these　angles。as。“moving…averages〃；　which　can　cause　confusion　in　modern　context　because　puters。allow　us。to　chart　true　moving　averages。derived　from　price　or　indicators。　In　this。discussion；　referencing　Gann　angles。will　serve　us。better。　

The　starting　placement　of　the　Gann　angles。in　Figure　5。12　will　raise　a　question　because　they　are　not　projected　from　blatant　price　lows。　Gann　teaches。that　a　sharp　decline；　as。an　example；　does。not　begin　a　new　trend　upward　at　the　price　low　of　the　decline。　The　price　low　is。the　conclusion　of　the　prior　bear　market　campaign。　The　start　of　the　new　trend　of　greatest　interest　is。the　first　secondary　pullback。　In　Figure　5。12；　Brent　crude　was。nearly　being　a　1
parabolic。rise；　so　the　Gann　angles。were　projec