the hAnDbook oF teChnICAl AnAlySIS■ (^) Number of time units traversed over one unit of price above the 1×1 line in a
downtrend and below the 1×1 line in an uptrend
See Figures 19.19 and 19.20.
Price trending upward above the 1×1 fan line is considered a strong bull trend,
whereas price trending upward below the 1×1 fan line is considered a weak bull trend.
Gann fan lines are treated in the same fashion as any other trendlines, that is, as areas
of support and resistance, changing roles when penetrated. Whenever price breaches
an uptrending Gann fan line to the downside, it is expected to move to the next lower
fiGure 19.19 Uptrending Gann Fan Lines.
fiGure 19.20 Downtrending Gann Fan Lines.