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Brown knows exactly what a professional trying to come up to speed on a new trading tool needs and she provides it, covering what Fibonacci analysis is, how it works, where it comes from, pitfalls and dangers, and, of course, how to use it. Basic trading strategies are touched upon in virtually every chapter.
Fibonacci analysis is one of the most popular technical analysis tools, yet it is often used incorrectly. Brown quickly clears up common misconceptions and moves on to show, step by step, the correct way to apply the technique in any market.
Those with Fibonacci analysis software will learn how to use it with maximum effectiveness; those without will chart the market the old-fashioned way. All will find answers to the trader's most important questions:
Occasional references to other tools--including Elliott Wave, W.D. Gann, and candlestick charts--and an extensive bibliography make this book richer for accomplished technical analysts without confounding the less experienced. Plentiful real-life examples and dozens of carefully annotated charts insure every reader will get maximum value from every minute spent with this book.
Gold Medal Winner (tie), Investing Category, Axiom Business Book Awards (2009)
Winner: Book Series Cover Design, The Bookbinders Guild of New York/2009 New York Book Show Awards
Acknowledgments.
Introduction.
1 The Mystery of Phi (1.618) and phi (0.618).
2 The Concept of Market Expansion and Contraction.
3 Support, Resistance, and Price Projections.
4 Bridging the Gap Between the Nautilus Shell and a Market Chart.
5 Fibonacci Channels, Angles, and Cycles with Oscillators.
6 Fibonacci Expansion Targets and Confluence in Time.
7 Rhythmic Wave Diagrams.
8 Harmonic Unity Within Market Price and Time.
Appendix A.
Appendix B: Common Errors.
Selected Bibliography.
Index.
Anonymous
Posted September 25, 2008
I'm writing to offer my praise for Candice Brown's book on Fibonacci Analysis. Not being a professional trader and lacking a network of people to speak with on technical analysis, I've been forced to fumble through different books and methods. I have found most to be written by hacks, narcissists, or goons. However, things changed when I came across Candice Brown's section in a recent bloomberg press book on technical analysis. I had previously been most loyal to point & figure technical analysis as it offered the most simple and logical approach. After reading her section though I became very interested to learn more. I have been applying the methods from this book to the stock market, particually the S&P500. The results have been really amazing. I have never been able to come near to any of my price targets before. But as of two weeks ago I've been watching confluence points be reached, held, or broken which move to the next confluence level. I sat in amazement as the S&P bounced around 1168 after breaking through the prior level of 1190. The book explains the how & why of fibonacci, presenting a well documented history on the number. This book can be read by anyone with a basic understanding of the market. It will take time to apply your methods and to fully grasp them. This book is not a quick gimmick. If you study it, I fell you will be rewarded. You don't need trading software to use this method. I used historical data from Stockcharts.com for free. There is also a function on stock charts that allows you to create three horizontal lines by stock price. Conveniently, it is just enough for the three fibonacci ratios used. A great read, well worth studying.
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Overview
Brown knows exactly what a professional trying to come up to speed on a new trading tool needs and she provides it, covering what Fibonacci analysis is, how it works, where it comes from, pitfalls and dangers, and, of course, how to use ...