- Shop with balance and get Rs.50 cashback per customer. Minimum order Rs.250 (excluding delivery fees). Applicable on orders paid using only Amazon Pay balance during Feb 16 - 28. Here's how (terms and conditions apply)
Fibonacci Analysis (Bloomberg Financial) Hardcover – 1 Aug 2008
Special offers and product promotions
Customers who bought this item also bought
What other items do customers buy after viewing this item?
From the Back Cover
In "Fibonacci Analysis," Constance Brown distills for traders the essentials of this little-understood but highly effective technical analysis tool. Emphasizing practical market applications that can be put to use immediately, this book: shows how to use Fibonacci ratios for price projection, provides detailed charts of actual trading situations, explains the importance of proportion when analyzing charts, alerts traders to the most common errors, and describes how to identify false signals. Brown gives traders a better understanding of this powerful technical analysis tool, leading to more effective trading.
About the Author
Constance Brown, CMT, is on the accreditation board of the Market Technicians Association. Her book, Technical Analysis for the Trading Professional, is required reading for the Level III Chartered Market Technician certification exam. She founded Aerodynamic Investments to advise and offer research to financial institutions and banks worldwide. Clients include Credit Suisse, Merrill Lynch, Morgan Stanley, Bundesbank, and Bank of Tokyo as well as clients in Kuwait, South Africa, Australia, Russia, and Indonesia. Previously, she worked as an institutional trader in New York City. She now lives and works in South Carolina. She is the author of six other books.
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter mobile phone number.
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
Most helpful customer reviews on Amazon.com
Fibonacci analysis is not a trivial process, although most charting software would make you think it is. As Constance points out beautifully, the selection of pivot points isn't as simple or mindless as "take the extreme high and low points" -- markets have an internal geometry that changes over time and you have to match that geometry to pick the proper pivots and thus create the correct confluence zones. She's very upfront about this in her Introduction and in the text itself, again and again. This analysis takes proper tools (whether computer drawn or with proportional dividers on paper) and practice ... and ideally (but not mandatory) a mentor to help guide you.
Is this book a stand-alone text? Yes, it is complete to itself. However, as Constance says (my paraphrase), "WD Gann spent decades learning about the mysteries of the Sacred Ratio and how to apply it; I've spent years, building on his and my mentor's further teachings; and if you're serious, you'll spend lots of time learning the basics and then making it your own". There is no easy road and this isn't "all you need to know about Fibonacci in 8 easy lessons". This is the freshman year of college and you have the rest of college and then graduate and post-graduate work ahead of you if you want in-depth understanding.
Remember that this book has a limited number of examples and pages. You have to study and repeat what Constance does on your own charts for the lessons to sink in. It would be ideal to sit with her for a week, but few of us have either the time or money to do that. Reading other dedicated Fibonacci books [e.g., Fibonacci Trading by Carol Boroden Fibonacci Trading: How to Master the Time and Price Advantage) or going to trader websites using Fibonacci techniques can show you alternate methods, or better yet, give you an opportunity to see how Constance Brown's technique improves on what is the "industry standard" for traders. All of it is learning and making this tool your own.
Are there errors in the text? Yes, a few, but they are relatively minor and if you're reading and understanding the material, you'll know the corrections you need to make. I've found typos and minor corrections in most books and this has fewer that most others in the finance/trading universe.
Does she answer the questions she raises in the text? Yes, she does. It may be in a later chapter or rephrased slightly, but she never leaves us wondering ...
In short, this is not an easy book to read, but that's because the material isn't easy. The writing is well done, clear and the progression from basics to advanced concepts is exactly what the student needs.
This book has taken a place of honor in my trading library, next to her master work on Technical Analysis. She points out the path and gives us our first lessons, but there is no "predigested spoon feeding" here; the rest is up to us as students to find, learn, master and ultimately, pass on to others.
Connie Brown's explanation of how to utilize Fibonacci ratios in this regard is different from what I had been used to. I am always up for learning something new from someone who has proven themselves in the marketplace. This book is probably not for everyone as it bases its premise on there being a universal, repetitive pattern incorporating the prominent Fibonacci ratios in everything; including the price action of the markets. If you feel the markets are simply and purely a random walk then don't waste your time. But if you feel there must be some sort of underlying structure to the way markets move, a structure that repeats and rhymes again and again then this book might something you can gain from. As with anything, your mileage may vary.
I have re-read this book 5 times, and each time gain a refinement or application that I did not catch...so I definitely agree that it is a professional level book. I am experienced with this feature in Connie Brown's work as the 2nd book I picked up as a beginner was her "Technical Analysis for the Trading Professional". This trading endeavor is something people attempt
in order to make big bucks quickly. The best thing that can happen is to be made aware of the complexities, and I was lucky to read her work so soon.
So, no it is not easy (start with Technical Analysis DeMystified for an intro to her methods), but it is worth it as many hard things are.
Finally, do yourself a favor and copy the chart pages onto separate sheets to make a "study guide". It will be a big help when the detailed discussions are written, to have the chart there for easy reference.
Is it the prose? Is it the physical presentation of the book? I really have not come to any great conclusion but I would suggest to anyone serious about studying Fibonacci Analysis there a more readable publications available.