Made famous by the Italian mathematician Leonardo De Pisa, the Fibonacci number series holds a Golden Ratio that is universally found in nature and used by architects, plastic surgeons, and many others to achieve "perfect" aesthetic proportions. Now, in this groundbreaking guide, noted technical trading advisor Carolyn Boroden shows you how Fibonacci pattern studies can be used as an extremely effective method for achieving greater profitability in stocks, futures, and Forex markets.
Fibonacci Trading provides a one-stop resource of reliable tools and clear explanations for both identifying and taking advantage of the trade setups naturally occurring in the markets that will enable you to reach the highest rate of profitable trades. Inside, you'll find a unique trading methodology based on Fibonacci ratios, and the author's personal experience analyzing and setting up the markets in real time, which makes this practical volume invaluable to the self-directed investor.
Complete with detailed charts and insightful graphics in each chapter, Fibonacci Trading features:
Dependable guidance for determining important support and resistance levels, along with expert advice for using them to maximize profits and limit losses Step-by-step processes for using Fibonacci analysis to predict turning points in the market far enough in advance to generate substantial profit Valuable tips for using Fibonacci analysis to establish optimal stop-loss placement Revealing coverage on how Fibonacci relationships can create a roadmap for the trader based on high percentage patterns Fibonacci Trading also provides a four-step formula for applying the covered techniques in a highly effective approach. Flexible enough for all markets and trading styles, the formula helps you focus your newly developed knowledge and skill sets into a solid trading methodology, defined trading plan, successful trading mindset, and disciplined trading approach that stacks the odds for profit in your favor.
This hands-on guide is packed with a wealth of actual trading situations, setups, and scenarios that bring the four-step formula to life so you can immediately use it in the real world.
This book is a clean and concise intro into the use of Fibonacci and price/time confluence to plan trade entries and exits (although she spends a lot more time on the entry part and only mentions exits really in reference to trailing stops.)
If people haven't looked in to using Fibonacci retracements, extensions and projections before, then this provides a good foundation. The book is filled with charts and as a result it's just as much a visual learning experience as a written one.
This only really goes into the very basics, but for some people that will be enough and it's definitely more powerful than the simplicity would suggest.
This book is a great resource for beginners, especially if you're new to trading and want to learn about Fibonacci Time and Price concepts from the ground up. The author does a solid job of explaining these tools in a clear and easy-to-understand way.
The trade entry strategies are well explained and practical, which I found very helpful. However, the book doesn't go into much detail when it comes to exit strategies and trade management. It would have been even better with more insight on how to handle trades after entering.
Overall, it's a valuable read for anyone starting out with Fibonacci trading.
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Nice trading strategy. Fibbs confluence and price cluttering. It also goes a little into how to structure a trading plan and money management. If you want to trade fibonacci, this book will give you a good starting point on how to take advantage of this amazing tool.
Take your knowledge of fibonacci to the next level
This book helped me fine tune my knowledge to the next level. I learned alot more about fibonacci time levels and combined with price projections helped me alot.