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Fibonacci Ratios with Pattern Recognition
Larry Pesavento has been trading for 30 years and is primarily a day trader. This book describes high probability patterns that coincide with clusters of Fibonacci price projections that provide the short or intermediate term Wader with high probability and low risk Wade setups. Chosen as the Book of the Year by the 1997 SuperTraders Almanac. A well focused and well organi ...more
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Read this even if you don't trade in the stock market. The beginning is pretty interesting in the way that it teaches some basics on the history of math, geometry, and the stock market. The following pages took me a little bit to decipher as I wasn't sure where the author was going. However, once I got into the momentum of the book I was completely indulged in it. I feel that the most important part of this book comes from the ending, however. It has some hidden meanings in the appendix's that a ...more
This book serves its purpose to give me an overview of some basic trading patterns, whose names pepper stocktwits. There is not much jargon or math, but enough examples at day-trading intervals so that basic human pattern recognition is enough to achieve understanding. This book is not very convincing, so I remain skeptical if these patterns are useful at all for risk analysis as the author claims. Especially given the HFT markets today, I doubt there being any advantage left to using these patt ...more