Brown knows exactly what a professional trying to come up tospeed on a new trading tool needs and she provides it, coveringwhat Fibonacci analysis is, how it works, where it comes from,pitfalls and dangers, and, of course, how to use it. Basic tradingstrategies are touched upon in virtually every chapter.
Fibonacci analysis is one of the most popular technical analysistools, yet it is often used incorrectly. Brown quickly clears upcommon misconceptions and moves on to show, step by step, thecorrect way to apply the technique in any market.
Those with Fibonacci analysis software will learn how to use itwith maximum effectiveness; those without will chart the market theold-fashioned way. All will find answers to the trader's mostimportant questions:
- Where is the market going?
- At what level should my stop be entered?
- Based on the size of my trading account, how much should Ileverage into a trading position?
- Can I tell if I am in trouble before my stop is hit?
- How much should I buy or sell if given a second orthird opportunity?
Occasional references to other tools--including Elliott Wave,W.D. Gann, and candlestick charts--and an extensive bibliographymake this book richer for accomplished technical analysts withoutconfounding the less experienced. Plentiful real-life examples anddozens of carefully annotated charts insure every reader will getmaximum value from every minute spent with this book.
Gold Medal Winner (tie), Investing Category, Axiom BusinessBook Awards (2009)
Winner: Book Series Cover Design, The Bookbinders Guild ofNew York/2009 New York Book Show Awards