Book : Fibonacci and Gann Applications in Financial Markets: Practical Applications of Natural and Synthetic Ratios in Technical Analysis
From the Inside Flap
“It is great to see a new book dedicated to the understanding of such classical technical methods. In an age where computerized trading has become the norm rather than the exception, it is essential that people don’t forget the power of these ancient techniques and their complete relevance to modern markets.”
—Adam Sorab, Chairman, British Society of TechnicalAnalysts (STA)
From the Back Cover
This book is a critical exploration of Fibonacci numbers, retracements, projections, time frames and fan lines, and their current usage within the financial markets by technical analysts.These methods are seen as effective technical analysis tools, however the author also sets out occasions when using them is inappropriate and can be costly in both financial and credibility terms. He investigates common assumptions that screen -based charting systems, which allow traders and students to drawFibonacci retracements and angles without indicating their drawbacks, can lead to the inaccurate application of an other wise powerful tool.
After a brief look at the history of Fibonacci, the author move son to its use and application within pricing action in financial markets (Fixed Income, Equity, Foreign Exchange, Commodity andIndex). He takes a practical look at the often-misunderstood Gann Analysis and shows the reader how to apply Gann techniques in order to improve trading profitability. He also draws attention to the overuse and misuse of easily applied computer packages available to professional and amateur traders.
The enclosed CD-ROM contains colour Fibonacci charts as well as Gann retracements and projections. Additionally, content includes Gann Hexagon and Square spreadsheets for Price/Yield and day count.
“Fibonacci and especially Gann analysis is perceived by many tobe complex, esoteric analysis and thus many people simply ignore it. MacLean has taken a tough subject matter and made it easy to follow and, more importantly, easy to use. A very useful book for any trader, for any market.”
—Katherine Beattie, CFA