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WD GANN: Wheels Within Wheels

The market master WD GANN referred in his teachings to ‘Wheels Within Wheels’.

The period within which Mr. Gann wrote used terminology that is a bit different to our present understanding of terms and was very biblically based. The term ‘wheels within wheels’ comes from a quotation of Ezekiel describing his divine vision.

Our present understanding of WD Gann’s use of this term applied to price charts and the Stock & Commodity markets could best be translated as the concept of CYCLES. To be even more precise, as cycles that take place within larger cycles in a market.

An illustration of this can be seen in the present US DOLLAR price movements as shown on it’s chart seen below:

The green shaded rectangle contains the price action since the low of November last. The separate daily price bars have made many smaller tops & bottoms within the rectangle. These have been shown with the orange lines showing tops & bottoms along the way. These smaller cycles shown in orange are the ‘wheels within the larger wheel’ shown by the red arrow.

It’s important to understand the basic terminology of the times of WD GANN when seeking out understanding of his methods and writings. It’s amazing how much language has changed over the last 90-years or so since Mr. Gann’s early writings. And, not language only, but the context provided by the prevalent literature of the period which constituted the culture of the late 1800′s and early 1900′s.

The Bible was a foundational source of literature in that time period and, by Gann’s own admissions, was a critical part of his wisdom base and Gann quoted from it often. Mr. Gann was able to separate and extract market useable Natural Laws from this book entirely apart from religion. He was searching for structure within the literature and Truth from the metaphors. He found it.