Title: International Money and Finance / Edition 8
Author: Michael Melvin, Stefan Norrbin
With his bestselling Fibonacci Applications and Strategies forTraders, Robert Fischer established himself as the leader in theFibonacci approach to trading. Moving beyond the old Fibonaccitrader, who had the ideas, rules, and tools on paper, Fischer, withson Jens Fischer, now use computer graphics and calculationtechnology along with new Fibonacci tools to successfully trade themarkets in The New Fibonacci Trader. In trading the markets it’s important to know what to buy, but it’seven more important to know when to buy. Accurately measuring priceand time signals are one of the best ways you can do this. Now,this groundbreaking book and CD-ROM provide a powerful new arsenalof Fibonacci trading tools and software-WINPHI-to recognizepatterns, predict swings, and buck the trend-so you can achieve thehighest rate of profitable trades. A quick recap of the core principles of Elliott Wave Theory andFibonacci Ratio are discussed to present an overall framework forThe New Fibonacci Trader. From here, Fibonacci expert RobertFischer gets to the heart of the concept by examining sixgeometrical Fibonacci trading tools: * Fibonacci Summation Series: to capture the rhythm of annualmarket swings * Corrections and extensions: trading with and against the maintrend * PHI-channels: as indicators for market trend changes * PHI-ellipses: to identify underlying structures of pricemoves * PHI-spirals: to identify trend reversals in the market * Fibonacci time goal analysis: that use the ratios 0.618, 1.000,and 1.618 to anticipate the exact day, in time and price, a trendwill change direction. Along with helpful charts and graphs, The New Fibonacci Tradershows you how to effectively apply Fibonacci trading tools by usingstate-of-the-art WINPHI software, which is included in thecompanion CD-ROM. Used individually or in concert, Fibonacci trading/analysis toolscan provide the foundation for sophisticated trading strategies.These concepts are valid for volatile and marketable individualstocks worldwide, and are not just limited to the tradingenvironment of the United States. In both bull and bear marketconditions, these concepts work equally well. Many of the toolsoutlined can be applied to monthly, weekly, daily, or even intradaycharts. Whether you’re dealing in stocks, futures, or cash currencies, TheNew Fibonacci Trader will help you calculate key turning points inthe markets, analyze market cycles, and make disciplined tradingpossible and profitable.