New Frontiers in Fibonacci Trading – Charting Techniques, Strategies, and Simple Applications – by Micahel Jardine

2003, 232 pages, by Michael Jardine.

The subject of Fibonacci always came to my mind as a self-fulfilled prophecy. And It is that, right now, nowadays. It is my belief…

And it is the belief of many other hundreds of thousands of traders worldwide (big and small) that believe in the Fibonacci levels that makes this belief true…

I don’t judge, I analyze, I study, and then Judge… Some levels of Fibonacci seem to be Voodoo-like… This book’s approach opens those gates but also puts some other things on the way… Almost all 40% of the end of the book were used to explain bizarre things like VWAP that it was not a VWAP, because it was based on time (???!!!??) and not on volume.

Another section was written on a trader named “Citizen”, who was claimed to build a Channel with a 3-period Moving Averages that it apparently super-cool but in fact, in real-time, it sucks…

Don’t believe me? just try it out on your day trading…

#FibonacciIsOKTHeRestSucks