What is the 'Gann Star'?
The Gann Star or Gann Star tool is one of the time and geometric analysis tools used by William Gann, and it is used to determine the time and spatial points where a price reversal (meaning a change in direction either upward or downward) may occur.
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Why is it called a 'star'?
Because the shape it creates on the chart resembles a star, due to the repetition of lines at different angles (like 45 degrees, 90, 120, 180... and so on). This makes its shape look like a star network or a radial network.
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Is there a strange story behind it?
Yes, and this is what makes the subject really strange:
William Gann himself always used secret symbols and sacred numbers, and angles related to stars and planets!
He believed that the market moves according to mathematical and astronomical laws!
And he linked between:
Planetary cycles and
Geometric angles and
The time movements in the market
And he could sometimes accurately predict market reversals on certain days, which made people think he was a magician or had strange knowledge.