Applying the W.D. Gann Square of 9 in your Binance trades involves using a unique tool to predict potential price levels and market turning points. Imagine the Square of 9 as a grid with numbers arranged in a spiral pattern. To use it, follow these steps:
Choose a Starting Point: Select a recent significant price point on your trading chart. This will be your reference point.
Calculate the Square Root: Find the square root of the reference price and locate it on the Square of 9 grid. This will be your center point.
Move Outward: As you move outward from the center, each number on the grid represents a potential price level. For example, if you're trading Bitcoin and your center is $10,000, the grid might show potential levels like $11,000, $12,000, and so on.
Angles: You can also draw diagonal lines (angles) on your chart from the center point. These angles represent potential support and resistance levels.
Market Turns: Watch for price reactions around the levels and angles. If the price stalls or reverses near one of these points, it might indicate a market turn.
Remember, the Gann Square of 9 is a tool, not a guaranteed prediction method. It works best when combined with other technical and fundamental analysis. Regularly update your reference point and adjust the grid as the market evolves. Practice and observation will help you gain a better understanding of its potential effectiveness in your trading decisions on Binance.
