Gann angles are a great tool to monitor the speed of the trend.
Since the March 2009 all trends that have extended out from a base along the up trend of the SP500 have moved higher along the 1x2 Gann Angle. This is uncanny and gives the trader a measuring stick to make trading decisions. Of course the market changes, but for now its working. Also the difference between a Gann Angle and a trend line is that a Gann angle needs only 1 point to draw from, whereas a trend line needs 2. The second point with a trend line can and does tend to float to find accuracy.
"Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does the damage to the pocket book and to the soul."
- Jesse Livermore
"If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks"
- John (Jack) Bogle
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