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Fibonacci Analysis Hardcover – August 1, 2008
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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.
Top Customer Reviews
Fibonacci seems to be an area of technical analysis that is very poorly covered in the literature. There are several books but many of them are by writers of newsletters (and the books often spend page after page on historical irrelevant detail). This doesn't automatically make the books bad, but it is likely that the author will hold back certain information.
This book is not for beginners. I would buy Robert Miner's book to get the received wisdom on Fibonacci retracements and extentions. Then I would experiment trading on those ideas for a couple of years. Anything above this level isn't in the public domain and you have to be prepared to spend a lot of time doing research. If you want to learn more you can consider buying this book or another specialised book (Greenblatt or Boroden). But be aware: The further you read this book the more opaque it becomes. I think you also need to subscribe to the author's newsletter. So this author does hold back information, but in the earlier chapter the writing is fairly straightforward and some testable ideas are presented.
Personally I have decided not to go down this route. I do believe there is value in basic Fibonacci ratios, but there is too much mysticism in the advanced literature for my comfort. Maybe I'm missing something, but I take the risk.
For a solid primer and intermediate description of Fibonacci and trading, I would recommend Boroden's Fibonacci Trading : How to Master the Time and Price Advantage.Read more ›
Keep in mind that the other reviews you see above are correct; knowledge of technical analysis is helpful in understanding this information. I have been investing and trading for several years and I have also accumulated 100 books on the subject. None of these books ever compelled me to write to the author and thank them for writing their book; that is until this one. Constance has a gift for teaching. Being brilliant helps too! This book is required reading for the serious trader.
I am amazed at what happens in the confluence zones!! I am getting better and better at drawing the correct Fib Levels and my zones are becoming meaningful and respected. This makes me freak out a little because these are levels I would never see otherwise; they have no meaning until you find them!! (if that makes any sense at all)I know several traders who think they are using Fibonacci Levels. Now I recognize that they are using Fibonacci all wrong. I was too; before I read this book.
My advice; get the book, read it, read it, read it; then practice like you have never practiced before.
Tools are only as good as the hand they find themselves in; be committed and this will amaze you too.
Maybe Ms. Brown is the great and wonderful technician that she repeatedly tells us she is, but she certainly isn't a pedagogue.
Setting aside my opinions of the validity of Fibonacci analysis and the author's obvious success in the traders' world, my quarrel with this book is on the very, very troubling prose construction and content organization:
1. No provision of a master list of the o-so-important 'internal markers' that the author keeps alluding to throughout the text. Those 'markers' are sprinkled here and there, seemingly inconsistently applied to each case study.
2. Starting in Chapter 2, there are excessive usage of "I will discuss this later" without making clear references, well, later.
3. The utility of this book is hampered by its content organization. The reader will likely have to do a lot of note keeping (plus organizing and reconciling the notes eventually), which would not have been necessary if more work is done by an editor. The writing probably would not fare well in any college-level English course, as an example from page 46:
But how can I be confident this is the price support level the market will respect for a significant rebound? From this simple method alone, I cannot answer this latter question. For this reason, we need to continue.
Unfortunately, I must say this is a haphazard attempt at a subject I find very interesting, by a trader I respect, and from a publisher I trust. I certainly expected a lot more from a piece of work that is introduced as a author's legacy work.
Most Recent Customer Reviews
Great book, hard to get through. This is the single most important trading book I have ever purchased. Read morePublished 2 months ago by James B.
Very interesting presentation by Connie Brown;worth reading for any market participant.Published 6 months ago by W. Alden
A disappointing, difficult read. Lots of theory but light on practical application for traders in my opinion. Read morePublished 9 months ago by Skidmark
The author might be a technical expert but the book is not at all well written. I agree with some of the other reviews - it is very confusing, there is no logical connect and by... Read morePublished 12 months ago by universe_calling
Meh...maybe it was me, but Ms. Brown always seemed to stop just short of including the full detail that one needs to truly understand something. Read morePublished 15 months ago by Jack Puglis
I read this book because i wanted to learn about Fibonacci Analysis which seems to be widely used in technical analysis and see if i could use it as part of my trading plan. Read morePublished 19 months ago by Robert
Very disappointing. Instead of showing the broad view first, she jumps right in to the little intricacies of the EW and quickly loses me in minutiae. Read morePublished 20 months ago by Insighter
This could be a good "beginner's" guide to trading but if you rely on this for trading - I guarantee that eventually you WILL lose. Read morePublished on April 1, 2014 by Walter Prochorenko