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FIBONACCI APPLICATIONS AND STRATEGIES FOR TRADERS
Every trader has asked him- or herself, "Once a market stops climbing, how far can I expect a setback before the trend resumes?" At that point, the trader begins to learn about techniques for estimating price levels for countertrend or corrective retracements. The most common percentage retracements of a trend are 38%, 50% and 61.8%. But where did these numbers come from? These numbers are derived from a mathematical series known as the Fibonacci summation series: 1,1,2,3,5,8,13,21 ... where each number is the sum of the two previous numbers. The ratios between each number approach a value of 61.8%, which is the golden mean. People have long been fascinated with this number series.
Examples abound, ranging from population growth to the number of petals on a flower. Traders have studied the application of the series for trading markets; after all, markets climb and fall or grow and collapse. Until now, most of the literature has focused on applying the ratios in a loose format without specific guidelines. Here, Fischer fЛlls that void, which details techniques and strategies for trading based on the Fibonacci.
File details File Type: Adobe PDF (.pdf) Windows Copatible: Yes Mac Copatible: Yes Language: English
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