Fibonacci Trading: How to Master the Time and Price Advantage Hardcover – 17 March 2008
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Accurately predict market trends with the power of Fibonacci
Fibonacci Trading offers new insight into pinpointing the highs and lows in market trading with a proven approach based on a numeric pattern known as the Fibonacci series. Armed with the know-how and tools inside, you'll learn how to maximize profits and limit losses by anticipating market swings based on an enlightened understanding of how Fibonacci levels determine market trends.
This innovative approach created by pioneering technical analyst Carolyn Boroden enables you to predict turning points well in advance, better determine stop-loss placement, and accurately identify critical support and resistance levels. More than 100 charts and illustrations bring concepts to life to form a powerful formula consisting of four key components:
- Methodology-Use Fibonacci time and price analysis to define risk and set goals
- Trading plan-Create a solid trading business plan defining setups, entry and exit parameters, and money managemnet
- Positive trading psychology-Put yourself in the right mindset for success, which allots for 85% of the game
- Discipline-Successfully execute your investment plan with expert tips and advice
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Most helpful customer reviews on Amazon.com
Reviewed in the United States on 9 September 2018
1)Plenty of examples
2) Does a really good job in explaining levels and setups
Only con is these are primitive bar charts which are no longer used anywhere. Candlesticks are way to go.
You have to internalize and practice each chapter. For that you should have a software where you are able to draw the levels like think or swim or trade station. I went through 1 star reviews. you should not buy this book if
1) you just started trading
2) you do not know who to analyze charts
3) you have not read some of technical analysis classics by martin pring or murphy.
4) wanted a book of get rich quick schemes(spoiler: there are none)
this is an advanced topic for analysis. The indicators in here are powerful and deserve a book of its own. Carolyn has done a fantastic job. You have to use these with chart patterns and other analysis.