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An in-depth examination of a powerful new trading strategy' Fischer provides an intriguing and thorough look at blending the Fibonacci series, candlesticks, and 3-point chart patterns to trade securities. Backed by explicit trading rules and numerous examples and illustrations, this book is an invaluable tool for the serious investor. Read it.' -Thomas N. Bulkowskiauthor of Encyclopedia of Chart Patterns and Trading Classic Chart PatternsIn this groundbreaking new book, Fibonacci expert Robert Fischer and coauthor Dr. Jens Fischer successfully merge Fibonacci applications with candlestick charting to create an innovative trading strategy that will help you enhance profits and reduce risk.Filled with in-depth insights, helpful charts and graphs, and practical real-world examples, Candlesticks, Fibonacci, and Chart Pattern Trading Tools reveals how correctly combining these different strategies can give you a noticeable edge in challenging market times-regardless of whether you are a short-term or long-term trader-and improve your chances of success under a variety of market conditions.Youll be introduced to the critical aspects of this synergistic approach through in-depth analysis and detailed explanations of: Core combinations of Fibonacci trading tools with candlesticks and regular 3-point chart patternsThe magic figure ' three' and its relevance in pattern recognitionFibonacci-related trading strategies, selected candlestick chart patterns, and regular 3-point chart patternsApplications of these trading strategies-double tops, Fibonacci price extensions, PHI-channel applicationsPHI-ellipses as trading toolsAnd muchmoreAlong with the computer technology of the WINPHI charting program included on the companion CD-ROM, Candlesticks, Fibonacci, and Chart Pattern Trading Tools will help you understand and implement this profitable trading strategy to the best of your ability.
List of contents
Chapter 1 Trading Psychology and Investor Behavior 1 Chapter 2 THE MAGIC FIGURE Three 7 Chapter 3 Basic Principles of Trading Strategies 9 Fibonacci Analysis 9
Candlestick Analysis 24
Chart Pattern Analysis 32
Trend Lines and Trend Channels 41
Chapter 4 Applications of Trading Strategies 45 Double Tops and Double Bottoms 45
Fibonacci Price Corrections 52
Fibonacci Price Extensions 67
Candlestick Chart Patterns 77
3-Point Chart Patterns for Trend Reversals 88
PHI-Channel Applications 108
Chapter 5 Phi-ellipses 115 Basic Features and Parameters of PHI-Ellipses 116
Working with PHI-Ellipses on Daily Data 132
PHI-Ellipses on Constant Scales 150
Working with PHI-Ellipses on Intraday Data 155
Reliability of PHI-Ellipses Reconsidered 162
Chapter 6 Merging Candlesticks, 3-point Chart Patterns, and Fibonacci Tools 167 Fibonacci Price Correction Levels 168
Fibonacci Price Extensions 187
Support and Resistance Lines 195
PHI-Ellipses 207
Summary 218
Some Final Remarks 221
Tutorial 227
List of Abbreviations 229
Disclaimer 231
User Manual Winphi Getting Started 233
Index 251
About the author
ROBERT FISCHER has designed computer programs for commodity trading for banks and companies. Since 1990 he has managed commodity funds as a CTA with computer programs that generate trading signals based strictly on pattern recognition. He is President of Fischer Finance Consulting AG, Switzerland, and author of
Fibonacci Applications and Strategies for Traders and
The New Fibonacci Trader, both published by Wiley.
Dr. JENS FISCHER studied applied mathematics at Wuppertal University, Germany, and specialized in macroeconomics and international trade with a master's degree in economics at Cologne University. He also conducted research on Russian foreign policy in Moscow and Nizhni Novgorod, Russia, as well as in Jena and Gießen, Germany, to receive a doctor's degree in social sciences. He currently works as an Adjunct Professor for International Relations at Dortmund University, Germany, and advises Fischer Asset Management Ltd., Bermuda, in matters of computer simulation and system design.
