New PDF release: Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A

By Robert Fischer, Jens Fischer

ISBN-10: 0471448613

ISBN-13: 9780471448617

An in-depth exam of a robust new buying and selling approach
"Fischer presents an exciting and thorough examine mixing the Fibonacci sequence, candlesticks, and 3-point chart styles to exchange securities. subsidized through specific buying and selling ideas and diverse examples and illustrations, this e-book is a useful device for the intense investor. learn it."
–Thomas N. Bulkowski writer of Encyclopedia of Chart styles and buying and selling vintage Chart styles
during this groundbreaking new e-book, Fibonacci professional Robert Fischer and coauthor Dr. Jens Fischer effectively merge Fibonacci purposes with candlestick charting to create an cutting edge buying and selling method that can assist you increase earnings and decrease probability.
full of in-depth insights, important charts and graphs, and sensible real-world examples, Candlesticks, Fibonacci, and Chart trend buying and selling instruments finds how appropriately combining those diversified thoughts can provide you a obvious facet in not easy marketplace times–regardless of even if you're a momentary or long term trader–and increase your probabilities of good fortune less than numerous marketplace stipulations.
You’ll be brought to the severe elements of this synergistic procedure via in-depth research and special reasons of: * middle combos of Fibonacci buying and selling instruments with candlesticks and usual 3-point chart styles * The magic determine "three" and its relevance in development reputation * Fibonacci-related buying and selling concepts, chosen candlestick chart styles, and standard 3-point chart styles * functions of those buying and selling strategies–double tops, Fibonacci expense extensions, PHI-channel functions * PHI-ellipses as buying and selling instruments * and masses extra

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Additional resources for Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading)

Sample text

34. 34 Baseline of a PHI-channel. The baseline of a PHI-channel is the connection of the price move from the bottom, at point 0, to the top, at point 3. By connecting the high point 3 with the low point 0, we eliminate the biggest problem in working with regular outside trend channels: staying close enough to fast changes in price patterns. After establishing the baseline, we draw a parallel line to the baseline, using low point 2 as our outside point to the right of the price pattern. The distance from the baseline to the parallel line is the width of the PHI-channel, which can be used to calculate further parallels to the right based on the Fibonacci ratios.

DOUBLE TOPS AND DOUBLE BOTTOMS • 47 Increasing the swing size will dramatically reduce the number of trades. Although this might not be attractive for traders who want to see action, it improves the chances for profitable trades while limiting commissions and slippage. As a rule of thumb, there should not be more than 5 to 10 trades a year in a product like the S&P 500 Futures Index. 1 shows daily data for the DJ EuroStoxx 50 Futures Index between August 2001 and August 2002. The 13 turning points marked on the chart are based on a swing size of 300 points.

The following compromises may be helpful in dealing with this problem: • When working work with daily data, the daily close has to be higher than the first peak. • The market price must go 3 percent higher than the first peak. • Two daily highs have to be higher than the first peak. These are not optimal f ilters, for waiting can mean getting in very late and missing a prof it opportunity. But false breakouts are costly as well and can cause big losses in an account. When the closing price is lower than the first peak in a double top formation, a false breakout can indicate a price change.

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Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading) by Robert Fischer, Jens Fischer


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