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. Only someone who is both a successful trader and a successful writer could pull off what Constance Brown has accomplished in this book: distilling Fibonacci analysis to two hundred or so comprehensive, clearly written, eminently practical pages. 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.
Introduction:
Traders have been asking me for more than ten years to write this book. Being a fund manager, there was no chance I would write a comprehensive book on the price-projection methods I used or the research that was developing from the methodology. But times change and a wise partner of mine asked. “What is your business exit strategy going to be?” He explained that all the knowledge and wisdom you have gained over the years will be lost if you have no plan to pass it on to the next generation. It is not enough to come, extract from the markets, and then hide in a cave with the best gems you have polished over the years tucked safely away in the deepest partitions of your mind. What good was the journey if someone does not pick up the Hag and continue to move it forward?
1 never felt ready to put into print the most important work that the markets had trained me to use as the cornerstone of my various geometric methods. There was always more I needed to prepare before unveiling this work to my peers. It is alarming how time seems to fly by and indeed odd how someone becomes branded a specialist. One day, I was just working hard to catch the leaders in my craft, and then one morning, I awoke to find that the person looking back at me in the mirror was the one being hounded by others to reveal a deep hidden secret she held. There were no secrets except what was earned through hard work and a relentless passion to gain a better understanding of why something worked with each new market experience.
The final chapters of this book where completed at the end of December 2007. Book production schedules being what they are, this book could not be released until some months later. So with great interest I watched as 2008 began another significant equity decline, knowing this book contained the global market setup that helped to correctly identify the events that have since followed. Calling such moves before they happen and when is how my reputation grew within our industry. But how can one make such a claim well in advance? All the charts, targets, and methods within these pages where captured and described in real time to help you see why these methods never fail to astound and inspire me to continue to learn more.
Contents:
- The Mystery of Phi (1.618) and phi (0.618)
- The Concept of Market Expansion and Contraction
- Support, Resistance, and Price Projections
- Bridging the Gap Between the Nautilus Shell and a Market Chart
- Fibonacci Channels, Angles, and Cycles with Oscillators……………………….75
- Fibonacci Expansion Targets and Confluence in Time……………………………98
- Rhythmic Wave Diagrams…………………………………………………………………….122
- Harmonic Unity Within Market Price and Time
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