Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading) [Hardcover]

Robert Fischer (Author), Jens Fischer (Author)

Book Description

ISBN-10: 0471448613 | ISBN-13: 978-0471448617 | Publication Date: August 14, 2003

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. Bulkowski author of Encyclopedia of Chart Patterns and Trading Classic Chart Patterns

In 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.

You’ll 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 patterns
• The magic figure "three" and its relevance in pattern recognition
• Fibonacci-related trading strategies, selected candlestick chart patterns, and regular 3-point chart patterns
• Applications of these trading strategies–double tops, Fibonacci price extensions, PHI-channel applications
• PHI-ellipses as trading tools
• And much more

Editorial Reviews

From the Inside Flap

If you’re unhappy with the performance of your investment advisors and their choices, it is time to take control of your own trading decisions, and Candlesticks, Fibonacci, and Chart Pattern Trading Tools will provide you with the analytical tools and advice to do just that. Candlestick charting, Fibonacci applications, and 3-point Chart Pattern analysis are three of the most popular technical tools used by stock, options, and futures traders. By merging the three techniques, Fibonacci expert Robert Fischer, along with his son Dr. Jens Fischer, have created a new, cutting-edge trading strategy that will help you enhance profits and reduce risk.

No matter how good a trading approach may be, if you don’t have the proper understanding of yourself as well as other traders, you’ll never be successful. That’s why Candlesticks, Fibonacci, and Chart Pattern Trading Tools opens with a discussion of some basic principles of trading psychology and investor behavior–including ego, discipline, and patience. From here, you’ll be introduced to the heart of this synergistic approach through in-depth analysis and detailed explanations of:

• The magic figure "three" and its relevance in pattern recognition
• Fibonacci-related trading strategies, selected candlestick chart patterns, and regular 3-point chart patterns
• Applications of these trading strategies–double tops, Fibonacci price extensions, PHI-channel applications
• PHI-ellipses as trading tools
• Core combinations of Fibonacci trading tools with candlesticks and regular 3-point chart patterns

Candlesticks, Fibonacci, and Chart Pattern Trading Tools skillfully explores how support and resistance lines can be very powerful trading tools to determine entry and exit levels, as well as how the combination of PHI-ellipses trading with candlesticks, support and resistance lines, and 3-point chart patterns can be used to pre-calculate trend reversals more precisely.

Filled with in-depth insights, helpful charts and graphs, and practical real-world examples, Candlesticks, Fibonacci, and Chart Pattern Trading Tools reveals how combining different strategies correctly can improve the success of any investor, regardless of market conditions.

From the Back Cover

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. Bulkowski

author of Encyclopedia of Chart Patterns and Trading Classic Chart Patterns

In 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.

You’ll 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 patterns
• The magic figure "three" and its relevance in pattern recognition
• Fibonacci-related trading strategies, selected candlestick chart patterns, and regular 3-point chart patterns
• Applications of these trading strategies–double tops, Fibonacci price extensions, PHI-channel applications
• PHI-ellipses as trading tools
• And much more

See all Editorial Reviews

Product Details

• Hardcover: 256 pages
• Publisher: Wiley (August 14, 2003)
• Language: English
• ISBN-10: 0471448613
• ISBN-13: 978-0471448617
• Product Dimensions: 9.3 x 6.3 x 1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 2.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,255,783 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

41 of 44 people found the following review helpful:

3.0 out of 5 stars Good concept, but too repetitive, December 23, 2003

By 

bok "bokster" (Singapore) - See all my reviews

This review is from: Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading) (Hardcover)

the first 3 chapters touch very briefly on psychology, fibonacci tools and candlesticks charting as an introduction. it is concise, just about sufficient to give uninformed readers a basic understanding in these topics. for a deeper understanding of these subjects; steve nison's 'japanese candlestick charting' and fischer's 'new fibonacci trader' are excellent. these chapters were easy for me as i had already read those 2 books.

chapter 4 is what seems to be a pretty useless chapter where the author states statistical tests done on the profitability of each method described in the previous 2 chapters (ie the various candlesticks and fibonacci tools). he would repeat the description of each method and show their profitability tests over certain periods.

chapter 5 details a very useful method of using fibonacci trading, the PHI-ellipse. however, this chapter only repeats and expand what you'd have read in the previous chapters. note: PHI ellipses was already covered briefly in chapter 2. PHI ellipse is also found in 'new fibonacci trader'.

chapter 6 teaches you how to combine the various methods discussed. the author would repeat some of the methods as he reintroduce them. an illustration of how repetitive the book is, the chapter is 50 pages long, half of which are graphics and there are summaries after each topic/method; yet there is a further summary to this chapter of 2.5 pages. obviously, the summary is a repetition!

there would be a last chapter of summary for the entire book...

a software for using the proprietory PHI-ellipse is provided with this book. i find that i cannot use it so far. but this may be due to my own inadequacies with the computer... or a conflict as the software has some very strict requirements for the charting data.

a good book with good theories but the author need to organise it better. the end product is disorganised and repetitive. readers could just read 'japanese candlestick charting' and 'new fibonacci trader', apply some common sense to combine these 2 methods and skip this book. the same CD-ROM software for the PHI ellipse come with 'new fibo trader'.

34 of 38 people found the following review helpful:

4.0 out of 5 stars Fibonacci ,selected chart patterns and candlesticks., October 22, 2003

By 

Kwan (Singapore) - See all my reviews

This review is from: Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading) (Hardcover)

This book is a combination of Candlestick, Fibonacci and some basic chart patterns, Three quarters of the books discussed the basic principles and applications of these three tools, only the last chapter show you how to apply these tools together. The explanation of candlestick and chart pattern seem to be too brief, and the fibonacci part overlays a lot with the author's previous book. I would suggest you to buy this author's previous book "The New Fibonacci trader" together with Steve Nison's "Japanese Candlestick Charting Techniques¡¨, and it would be sufficient for you.

0 of 1 people found the following review helpful:

3.0 out of 5 stars INCOMPLETE BOOK, February 28, 2011

By 

Eduardo Amil T. Alves "Eduardo Amil" (Rio de Janeiro , Brazil) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Candlesticks, Fibonacci, and Chart Pattern Trading Tools: A Synergistic Strategy to Enhance Profits and Reduce Risk (Wiley Trading) (Kindle Edition)

ALTOUGH IT IS A VERY COMPREHENSIVE BOOK IN CANCLESTICKS AND FIBBS, IT ALWAYS REFERS TO A CERTAIN SOFTWARE THAT SHOULD COME ENCLOSED TO THE BOOK IN A CD, WHICH IT DOES NOT . THE BOOK CITES THE SOFTWARE FOR A WHOLE CHAPTER AND IMPLIES CERTAIN ANALYSIS TO THE USE OF THE REFERRED SOFTWARE THAT THE READER DOES NOT HAVE ACCESS.