Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting - FasterCapital (2024)

1. Understanding Fibonacci Extensions and Gann Analysis

Understanding fibonacci Extensions and Gann analysis

As traders, we are always on the lookout for tools that can help us predict the market's next move. Two popular methods that have gained a lot of attention over the years are Fibonacci extensions and Gann analysis. Understanding these two methods and their synergies can help us make better trading decisions.

1. Fibonacci Extensions

Fibonacci extensions are a popular tool among traders and analysts. They are based on the Fibonacci sequence, a mathematical formula that describes the growth of natural things like plants and animals. The sequence is 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, and so on.

The Fibonacci extensions are used to identify potential levels of support and resistance in the market. They are calculated by taking the difference between two points on a chart and multiplying it by the Fibonacci ratios of 1.618, 2.618, and 4.236. These levels can act as potential targets for traders.

For example, let's say a stock is trading at $100, and it starts to move higher. The trader can use the Fibonacci extensions to identify potential targets for the stock. If the stock moves to $110, the trader can use the Fibonacci ratios to calculate potential targets at $116.18, $121.80, and $129.36.

2. Gann Analysis

Gann analysis is another popular method used by traders and analysts. It is based on the idea that the market moves in predictable patterns and cycles. Gann analysis uses a combination of price and time to identify potential levels of support and resistance in the market.

Gann analysis is based on the idea that the market moves in predictable patterns and cycles. It uses a combination of price and time to identify potential levels of support and resistance in the market.

Gann angles are used to identify potential levels of support and resistance. These angles are drawn from significant highs and lows on a chart and are based on the angle of a 45-degree line. The angles are then projected into the future to identify potential levels of support and resistance.

For example, let's say a stock is trading at $100, and it starts to move higher. The trader can use Gann angles to identify potential levels of support and resistance. If the stock breaks above a significant high at $110, the trader can draw a Gann angle from that high and project it into the future. The angle may identify potential levels of support and resistance at $116.18, $121.80, and $129.36.

3. synergies in Market forecasting

Fibonacci extensions and Gann analysis can be used together to identify potential levels of support and resistance in the market. The two methods complement each other well and can provide traders with a more comprehensive view of the market.

When using Fibonacci extensions and Gann analysis together, traders can identify potential levels of support and resistance using both price and time. This can help traders make better trading decisions and improve their overall profitability.

For example, let's say a trader is using Fibonacci extensions to identify potential targets for a stock. The trader may identify a potential target at $121.80. The trader can then use Gann analysis to identify potential levels of support and resistance at that price level. If the Gann analysis confirms the potential level of support and resistance, the trader may have more confidence in their trade.

Fibonacci extensions and Gann analysis are powerful tools that traders can use to identify potential levels of support and resistance in the market. When used together, they can provide traders with a more comprehensive view of the market and help them make better trading decisions.

Understanding Fibonacci Extensions and Gann Analysis - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

2. The Basics of Fibonacci Extensions in Market Forecasting

Fibonacci Extensions are one of the most popular tools used by traders and analysts in market forecasting. The Fibonacci sequence of numbers, discovered by an Italian mathematician named Leonardo Fibonacci in the 13th century, is a sequence of numbers where each number is the sum of the two preceding numbers. This sequence has been found to have many applications in various fields, including finance and trading. In this section, we will explore the basics of Fibonacci Extensions in market forecasting.

1. What are Fibonacci Extensions?

Fibonacci Extensions are a set of horizontal lines that are drawn on a price chart to indicate potential levels of support and resistance. These lines are based on the Fibonacci sequence of numbers and are used to identify potential price targets for a given asset. The most commonly used Fibonacci Extension levels are 38.2%, 50%, 61.8%, 100%, 161.8%, and 261.8%.

2. How are Fibonacci Extensions used in market forecasting?

Fibonacci Extensions are used to identify potential price targets for a given asset. Traders and analysts use these levels to determine where to enter or exit a trade, and to set stop-loss and take-profit levels. Fibonacci Extensions can also be used to identify potential areas of support and resistance, which can be used to determine where to place stop-loss orders.

3. How do Fibonacci Extensions compare to other technical analysis tools?

fibonacci Extensions are just one of many technical analysis tools used by traders and analysts. Other popular tools include moving averages, trend lines, and oscillators. The advantage of using Fibonacci Extensions is that they are based on a mathematical sequence that has been found to have applications in various fields, including finance and trading. However, like any technical analysis tool, Fibonacci Extensions should be used in conjunction with other tools to confirm signals and identify potential areas of support and resistance.

4. What are some limitations of Fibonacci Extensions?

One limitation of Fibonacci Extensions is that they are based on historical price data and may not necessarily be predictive of future price movements. Additionally, Fibonacci Extensions are subjective and can vary depending on the trader or analyst drawing them. Finally, Fibonacci Extensions should not be relied upon as the sole basis for making trading decisions, and should be used in conjunction with other technical analysis tools and fundamental analysis.

5. What is the best way to use Fibonacci Extensions in market forecasting?

The best way to use Fibonacci Extensions in market forecasting is to use them in conjunction with other technical analysis tools and fundamental analysis. Traders and analysts should also be aware of the limitations of fibonacci Extensions and should not rely on them as the sole basis for making trading decisions. Additionally, traders and analysts should be aware of the subjective nature of Fibonacci Extensions and should be consistent in how they draw them. Finally, traders and analysts should backtest their strategies using historical price data to determine the effectiveness of Fibonacci Extensions in their trading strategy.

The Basics of Fibonacci Extensions in Market Forecasting - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

3. The Fundamentals of Gann Analysis and Its Application in Market Forecasting

Gann analysis is a technical analysis tool that is based on the idea that markets move in predictable cycles and patterns. This approach was developed by W.D. Gann, a trader and analyst who lived in the early 20th century. Although Gann analysis has been around for over a century, it continues to be widely used by traders and investors to predict market trends and identify potential trading opportunities. In this section, we will discuss the fundamentals of Gann analysis and its application in market forecasting.

1. Gann angles: One of the most important tools in Gann analysis is the use of Gann angles. These angles are drawn on a price chart and are used to identify potential support and resistance levels. Gann angles are drawn at different angles, such as 45 degrees, 60 degrees, and 90 degrees, and are based on the premise that price moves in a predictable pattern.

2. Gann squares: Another tool used in Gann analysis is the Gann square. This is a chart that is divided into equal squares, with each square representing a specific price level. The Gann square is used to identify potential support and resistance levels, as well as to predict future price movements.

3. Time cycles: Gann analysis also involves the use of time cycles. Gann believed that markets move in predictable cycles, and that these cycles can be used to predict future price movements. Time cycles can be based on days, weeks, months, or even years, and are used to identify potential turning points in the market.

4. Price cycles: In addition to time cycles, Gann analysis also involves the use of price cycles. These cycles are based on the idea that markets move in predictable patterns, and that these patterns can be used to predict future price movements. Price cycles can be based on a variety of factors, such as the length of a trend or the size of a correction.

5. Fibonacci ratios: Gann analysis also incorporates the use of Fibonacci ratios. Fibonacci ratios are based on the Fibonacci sequence, which is a mathematical sequence that is found in nature. These ratios are used to identify potential support and resistance levels, as well as to predict future price movements.

6. Application in market forecasting: Gann analysis can be applied to a variety of markets, including stocks, commodities, and currencies. By using the tools and techniques of Gann analysis, traders and investors can identify potential trading opportunities, as well as potential support and resistance levels. However, it is important to note that Gann analysis is not a foolproof method of market forecasting, and that traders should always use other technical analysis tools and fundamental analysis to confirm their trading decisions.

Gann analysis is a powerful tool for market forecasting that has been used for over a century. By using Gann angles, Gann squares, time cycles, price cycles, and Fibonacci ratios, traders and investors can identify potential trading opportunities and potential support and resistance levels. However, it is important to remember that Gann analysis is not a foolproof method of market forecasting, and that traders should always use other technical analysis tools and fundamental analysis to confirm their trading decisions.

The Fundamentals of Gann Analysis and Its Application in Market Forecasting - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

4. The Synergies between Fibonacci Extensions and Gann Analysis

Fibonacci Extensions and Gann Analysis are two of the most widely used tools for market forecasting. Both of these techniques are based on mathematical principles and rely on the use of ratios and patterns to identify potential price movements. While these tools are powerful on their own, when used together, they can provide even more powerful insights into market trends and potential trading opportunities. In this section, we will explore the synergies between Fibonacci Extensions and Gann analysis and how they can be used together to improve market forecasting.

1. Understanding Fibonacci Extensions

Fibonacci Extensions are a tool used to identify potential price levels based on the Fibonacci sequence. The Fibonacci sequence is a mathematical sequence where each number is the sum of the two preceding numbers, starting with 0 and 1. The sequence goes as follows: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765, 10946, 17711, 28657, 46368, 75025, 121393, 196418, 317811, and so on.

Fibonacci Extensions are used to identify potential price levels based on the ratios of the Fibonacci sequence. The most commonly used ratios are 0.618, 1.000, 1.618, 2.618, and 4.236. These ratios are used to identify potential support and resistance levels in a market.

2. Understanding Gann Analysis

Gann Analysis is a tool used to identify potential price movements based on patterns in the market. This technique is based on the idea that price movements in the market are cyclical and can be predicted based on past price movements. Gann Analysis uses a combination of price and time to identify potential trends and trading opportunities.

Gann Analysis is based on the use of angles, which are drawn on a chart to identify potential support and resistance levels. These angles are drawn at different degrees, such as 45 degrees, 90 degrees, and 135 degrees. The angles are used to identify potential price movements based on the relationship between the angles and the price movements in the market.

3. The Synergies between Fibonacci Extensions and Gann Analysis

When used together, Fibonacci Extensions and Gann Analysis can provide powerful insights into market trends and potential trading opportunities. The synergies between these two techniques are based on the use of ratios and patterns to identify potential price movements.

One of the most powerful synergies between Fibonacci Extensions and Gann Analysis is the use of Fibonacci retracements with Gann angles. Fibonacci retracements are used to identify potential support and resistance levels, while Gann angles are used to identify potential price movements. When these two techniques are used together, they can provide powerful insights into potential trading opportunities.

Another synergy between these two techniques is the use of Fibonacci extensions with Gann Analysis. Fibonacci Extensions are used to identify potential price levels, while Gann Analysis is used to identify potential price movements. When these two techniques are used together, they can provide powerful insights into potential trading opportunities.

4. Comparing Options

When it comes to using Fibonacci Extensions and Gann Analysis together, there are several options available. One option is to use Fibonacci retracements with Gann angles, as mentioned above. Another option is to use Fibonacci Extensions with Gann Analysis. A third option is to use both Fibonacci retracements and extensions with Gann Analysis.

While all of these options can be effective, the best option will depend on the individual trader's preferences and trading style. Some traders may prefer to use Fibonacci retracements with Gann angles, while others may prefer to use Fibonacci Extensions with Gann Analysis. Ultimately, the best option is the one that provides the most accurate and reliable insights into market trends and potential trading opportunities.

The synergies between Fibonacci Extensions and Gann Analysis can provide powerful insights into market trends and potential trading opportunities. By understanding these techniques and how they can be used together, traders can improve their market forecasting and increase their chances of success.

The Synergies between Fibonacci Extensions and Gann Analysis - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

5. How to Use Fibonacci Extensions and Gann Analysis in Conjunction for Accurate Market Forecasting?

When it comes to market forecasting, traders and analysts have a plethora of tools at their disposal. Two of the most popular methods are Fibonacci extensions and Gann analysis. While both techniques can be effective on their own, using them in conjunction can result in even more accurate market forecasts. In this section, well explore how to use Fibonacci extensions and Gann analysis together for optimal results.

1. Understand the basics of Fibonacci extensions and Gann analysis

Before we can dive into how to use Fibonacci extensions and Gann analysis together, its important to understand the basics of each technique. Fibonacci extensions involve using Fibonacci ratios to determine potential price targets and support and resistance levels. Gann analysis, on the other hand, uses geometrical patterns and mathematical relationships to identify potential turning points and price targets.

2. Identify key levels using Fibonacci extensions

One way to use Fibonacci extensions and Gann analysis together is to first identify key levels using Fibonacci extensions. This involves using Fibonacci ratios to determine potential support and resistance levels, as well as price targets. Once these levels have been identified, Gann analysis can be used to confirm or invalidate these levels.

For example, lets say a trader is using Fibonacci extensions to identify potential support and resistance levels for a stock. They identify the 50% retracement level as a potential support level and the 161.8% extension level as a potential resistance level. They then use Gann analysis to confirm these levels. If Gann analysis indicates that these levels are strong, the trader can have more confidence in their market forecast.

3. Use Gann analysis to identify key turning points

Another way to use Fibonacci extensions and Gann analysis together is to use Gann analysis to identify key turning points. This can involve using Gann angles to identify potential trend lines and support and resistance levels. Once these levels have been identified, Fibonacci extensions can be used to determine potential price targets.

For example, lets say a trader is using Gann analysis to identify potential turning points for a stock. They identify a Gann angle that intersects with a key Fibonacci retracement level. They then use Fibonacci extensions to determine potential price targets if the stock breaks through this level. By combining these two techniques, the trader can more accurately forecast potential price movements.

4. Consider using other technical indicators

While Fibonacci extensions and Gann analysis can be powerful tools on their own, they can be even more effective when used in conjunction with other technical indicators. For example, a trader may also use moving averages or trend lines to confirm potential support and resistance levels identified using Fibonacci extensions and Gann analysis.

Its important to note, however, that using too many technical indicators can lead to analysis paralysis. Traders should aim to use only the indicators that are most relevant to the market they are analyzing.

Using Fibonacci extensions and Gann analysis together can result in more accurate market forecasting. By understanding the basics of each technique, identifying key levels using Fibonacci extensions, using Gann analysis to identify key turning points, and considering other technical indicators, traders can increase their chances of success in the market.

How to Use Fibonacci Extensions and Gann Analysis in Conjunction for Accurate Market Forecasting - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

6. Real-World Examples of the Synergies between Fibonacci Extensions and Gann Analysis

When it comes to market forecasting, traders need all the help they can get. Two popular methods for forecasting market trends are Fibonacci extensions and Gann analysis. Fibonacci extensions are a series of numbers that are used to predict future price levels, while Gann analysis is a technique that uses geometric patterns to forecast market movements. When used together, these two methods can provide traders with valuable insights into market trends. In this blog post, we will examine several real-world examples of the synergies between Fibonacci extensions and Gann analysis.

1. Identifying Support and Resistance Levels

One of the key benefits of using Fibonacci extensions and Gann analysis together is that they can help traders identify support and resistance levels. For example, a trader might use Gann analysis to identify a key support level, and then use Fibonacci extensions to predict where the price is likely to go once it reaches that level. By combining these two methods, traders can get a more accurate picture of where the market is headed.

2. predicting Market reversals

Another way that Fibonacci extensions and Gann analysis can be used together is to predict market reversals. Traders can use Fibonacci extensions to identify key levels of support and resistance, and then use Gann analysis to look for patterns that indicate a potential reversal. For example, if a trader sees a Gann fan pattern starting to form at a key Fibonacci level, they might take that as a signal that the market is about to reverse.

3. identifying Trend lines

Trend lines are an important tool for traders, as they can help identify the direction of a market trend. Fibonacci extensions and Gann analysis can be used together to identify trend lines and predict where the market is headed. For example, a trader might use Fibonacci extensions to identify key levels of support and resistance, and then use Gann analysis to draw trend lines that indicate the direction of the market trend.

4. analyzing Market volatility

Market volatility is another important factor that traders need to consider when making trading decisions. Fibonacci extensions and Gann analysis can be used together to analyze market volatility and predict where the market is headed. For example, a trader might use Fibonacci extensions to identify key levels of support and resistance, and then use Gann analysis to look for patterns that indicate a potential increase or decrease in market volatility.

The synergies between Fibonacci extensions and Gann analysis can provide traders with valuable insights into market trends. By using these two methods together, traders can identify support and resistance levels, predict market reversals, identify trend lines, and analyze market volatility. While there are many different methods for forecasting market trends, the combination of Fibonacci extensions and Gann analysis is a powerful tool that should not be overlooked.

Real World Examples of the Synergies between Fibonacci Extensions and Gann Analysis - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

7. Common Mistakes to Avoid when Using Fibonacci Extensions and Gann Analysis in Market Forecasting

When it comes to market forecasting, Fibonacci extensions and Gann analysis are two popular tools that traders use to predict future market movements. While both methods can be effective on their own, combining them can lead to even more accurate predictions. However, there are common mistakes that traders make when using these tools that can lead to inaccurate forecasts. In this section, we will discuss some of the most common mistakes to avoid when using Fibonacci extensions and Gann analysis in market forecasting.

1. Not understanding the underlying principles of Fibonacci extensions and Gann analysis

One of the biggest mistakes that traders make when using Fibonacci extensions and Gann analysis is not fully understanding the underlying principles behind these methods. Fibonacci extensions are based on the idea that price movements in financial markets follow a series of ratios derived from the Fibonacci sequence. Gann analysis, on the other hand, is based on the idea that markets move in predictable patterns that can be identified using geometric angles and levels.

To avoid this mistake, traders should take the time to study and understand the principles behind these methods. This will help them to use these tools more effectively and make more accurate predictions.

2. Using Fibonacci extensions and Gann analysis in isolation

Another common mistake that traders make when using Fibonacci extensions and Gann analysis is using these tools in isolation. While both methods can be effective on their own, combining them can lead to even more accurate predictions.

To avoid this mistake, traders should consider using both methods together. For example, they could use Gann analysis to identify key levels and angles, and then use Fibonacci extensions to identify potential price targets.

3. Failing to adjust for market conditions

Another mistake that traders make when using Fibonacci extensions and Gann analysis is failing to adjust for changes in market conditions. Markets are constantly evolving, and what worked yesterday may not work today.

To avoid this mistake, traders should regularly review their analysis and adjust their forecasts as needed. They should also keep up-to-date with market news and events that could impact their analysis.

4. Over-relying on Fibonacci extensions and Gann analysis

While Fibonacci extensions and Gann analysis can be powerful tools for market forecasting, over-relying on these methods can be dangerous. No method is foolproof, and there is always a risk of error.

To avoid this mistake, traders should use Fibonacci extensions and Gann analysis in conjunction with other methods of analysis, such as technical indicators and fundamental analysis. This will help them to get a more complete picture of the market and make more accurate predictions.

Overall, Fibonacci extensions and Gann analysis can be valuable tools for market forecasting, but traders need to be aware of the common mistakes that can lead to inaccurate predictions. By understanding the underlying principles of these methods, using them together, adjusting for market conditions, and not over-relying on them, traders can make more accurate predictions and achieve greater success in the markets.

Common Mistakes to Avoid when Using Fibonacci Extensions and Gann Analysis in Market Forecasting - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

8. Advanced Techniques for Fine-Tuning Your Market Forecasting with Fibonacci Extensions and Gann Analysis

In the world of market forecasting, there are a plethora of tools and techniques available to traders and investors. However, two of the most popular and effective methods are Fibonacci extensions and Gann analysis. By combining these two techniques, traders can fine-tune their market forecasting and gain a deeper understanding of market trends and movements.

1. Understanding Fibonacci Extensions

Fibonacci extensions are a popular tool used by traders to determine potential price targets in a market. The method is based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding numbers. In trading, these numbers are used to identify potential support and resistance levels.

To use Fibonacci extensions, traders first identify the high and low points of a market trend. They then use the Fibonacci sequence to calculate potential price targets, which are typically located at 161.8%, 261.8%, and 423.6% of the distance between the high and low points. These levels can be used to identify potential areas of support and resistance, as well as to determine potential profit targets for trades.

2. Applying Gann Analysis

Gann analysis is another popular tool used by traders to forecast market trends. The method is based on the idea that markets move in predictable patterns, and that these patterns can be identified and used to predict future price movements.

To apply Gann analysis, traders use a series of geometric angles to identify key levels of support and resistance. These angles are based on the price and time of a market trend, and can be used to identify potential turning points in the market. Traders can also use Gann analysis to identify potential profit targets and stop-loss levels.

3. Combining Fibonacci Extensions and Gann Analysis

When used in combination, Fibonacci extensions and Gann analysis can provide traders with a powerful tool for market forecasting. By identifying key levels of support and resistance using Fibonacci extensions, traders can then use Gann analysis to identify potential turning points in the market. This can help traders to enter and exit trades at the optimal times, and to maximize their profits.

For example, suppose a trader is using Fibonacci extensions to identify potential support and resistance levels in a market trend. They identify a potential resistance level at 161.8% of the distance between the high and low points. They then use Gann analysis to identify a potential turning point at this level, based on the price and time of the trend. This can help the trader to enter a short position at the optimal time, and to maximize their profits as the market trend reverses.

4. Choosing the Best Option

While both Fibonacci extensions and Gann analysis can be effective tools for market forecasting, it's important for traders to choose the method that works best for their individual trading style and goals. Some traders may prefer to use Fibonacci extensions to identify potential support and resistance levels, while others may prefer to use Gann analysis to identify potential turning points in the market.

Ultimately, the best option will depend on a variety of factors, including the trader's experience level, risk tolerance, and market knowledge. By experimenting with different techniques and combining them in unique ways, traders can develop a personalized approach to market forecasting that works best for them.

Advanced Techniques for Fine Tuning Your Market Forecasting with Fibonacci Extensions and Gann Analysis - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting

9. Harnessing the Power of Fibonacci Extensions and Gann Analysis for Successful Market Forecasting

Fibonacci Extensions and Gann analysis are two of the most widely used technical analysis tools in the market forecasting world. They both have their unique strengths and weaknesses, but when used together, they can create a powerful synergy that can significantly improve your market forecasting accuracy. In this section, we will take a closer look at how you can harness the power of Fibonacci Extensions and Gann Analysis to achieve successful market forecasting.

1. Understanding Fibonacci Extensions

Fibonacci Extensions are a powerful tool that can help you identify potential price targets based on the Fibonacci sequence. This can be particularly useful in identifying support and resistance levels in the market. To use Fibonacci Extensions, you need to identify the swing high and low points on the chart and then draw the fibonacci retracement levels. Once you have done this, you can then use the Fibonacci Extension tool to identify potential price targets based on the Fibonacci sequence. For example, if the price has retraced to the 50% level and then bounced back up, you can use the Fibonacci Extension tool to identify potential price targets at 161.8%, 261.8%, and 423.6% levels.

2. Gann Analysis

Gann Analysis is a technical analysis tool that is based on the idea that markets move in predictable patterns and cycles. This tool is particularly useful in identifying key support and resistance levels in the market. To use Gann Analysis, you need to identify the key swing points in the market and then draw the Gann lines. These lines can help you identify potential support and resistance levels in the market. For example, if the market is trading above the Gann line, it is likely to continue to move higher, and if it is trading below the Gann line, it is likely to continue to move lower.

3. The Synergy of Fibonacci Extensions and Gann Analysis

When you combine Fibonacci Extensions and Gann Analysis, you create a powerful synergy that can significantly improve your market forecasting accuracy. By using Fibonacci Extensions, you can identify potential price targets based on the Fibonacci sequence, and then use Gann Analysis to identify key support and resistance levels in the market. This can help you identify potential entry and exit points in the market, which can significantly improve your trading results.

4. The Best Option

There is no doubt that both Fibonacci Extensions and Gann Analysis are powerful tools in the market forecasting world. However, when it comes to choosing the best option, it ultimately comes down to personal preference and trading style. Some traders may prefer to use Fibonacci Extensions, while others may prefer to use Gann Analysis. The key is to find the tool that works best for you and your trading style.

The synergy of Fibonacci Extensions and Gann Analysis can significantly improve your market forecasting accuracy. By using these two powerful tools together, you can identify potential price targets and key support and resistance levels in the market. This can help you identify potential entry and exit points in the market, which can significantly improve your trading results.

Harnessing the Power of Fibonacci Extensions and Gann Analysis for Successful Market Forecasting - Fibonacci Extensions and Gann Analysis: Synergies in Market Forecasting