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V. 12:13 (555-555): Quick-Scans: FIBONACCI APPLICATIONS AND STRATEGIES
V. 12:13 (555-555): Quick-Scans: FIBONACCI APPLICATIONS AND STRATEGIES
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QUICK-SCANS
FIBONACCI APPLICATIONS AND STRATEGIES FOR TRADERS
Every trader has asked him- or herself, "Once a market stops climbing, how far can I expect a setback before the trend resumes?" At that point, the trader begins to learn about techniques for estimating price levels for countertrend or corrective retracements. The most common percentage retracements of a trend are 38%, 50% and 61.8%. But where did these numbers come from? These numbers are derived from a mathematical series known as the Fibonacci summation series: 1,1,2,3,5,8,13,21 ... where each number is the sum of the two previous numbers. The ratios between each number approach a value of 61.8%, which is the golden mean. People have long been fascinated with this number series. Examples abound, ranging from population growth to the number of petals on a flower. Traders have studied the application of the series for trading markets; after all, markets climb and fall or grow and collapse. Until now, most of the literature has focused on applying the ratios in a loose format without specific guidelines. Here, Fischer flls that void, which details techniques and strategies for trading based on the Fibonacci.
FIBONACCI APPLICATIONS AND STRATEGIES FOR TRADERS
Every trader has asked him- or herself, "Once a market stops climbing, how far can I expect a setback before the trend resumes?" At that point, the trader begins to learn about techniques for estimating price levels for countertrend or corrective retracements. The most common percentage retracements of a trend are 38%, 50% and 61.8%. But where did these numbers come from? These numbers are derived from a mathematical series known as the Fibonacci summation series: 1,1,2,3,5,8,13,21 ... where each number is the sum of the two previous numbers. The ratios between each number approach a value of 61.8%, which is the golden mean. People have long been fascinated with this number series. Examples abound, ranging from population growth to the number of petals on a flower. Traders have studied the application of the series for trading markets; after all, markets climb and fall or grow and collapse. Until now, most of the literature has focused on applying the ratios in a loose format without specific guidelines. Here, Fischer flls that void, which details techniques and strategies for trading based on the Fibonacci.
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