tailieunhanh - Fibonacci applications and strategies for traders Chapter 1

Chapter 1 The Fibonacci ratio. Let your imagination soar. Think of the universe, the constellations, the galaxy. Contemplate the beauty and form of all the wonders of nature: the trees, the ocean, flowers, plant life, animals | WILEY TRADER S ADVANTAGE SERIES John F. Ehlers MESA and Trading Market Cycles Robert Pardo Design Testing and Optimization of Trading Systems Gary Klopfenstein and Jon Stein Trading Currency Cross Rates Robert Fischer Fibonacci Applications and Strategies for Traders k Fibonacci Applications and Strategies for Traders Robert Fischer Series Editor Perry J Kaufman John Wiley Sons Inc. New York Chichester Brisbane Toronto Singapore This text is printed on acid-free paper. Copyright 1993 by John Wiley Sons Inc. All rights reserved. Published simultaneously in Canada. Reproduction or t ranslation of any part of this work beyond that permitted by Section 107 or 108 of the 1976 United States Copyright Act without the permission of the copyright owner is unlawful. Requests for permission or further information should he addressed to the Permissions Department John Wiley Sons Inc. 605 Third Avenue New York NY 10158-0012. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal accounting or other professional services. If legal advice or other expert assistance is required the services of a competent professional person should be sought. From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers. Library of Congress Cataloging in Publication Data Fischer Robert 1941 June 17- Fibonacci applications and strategies for traders by Robert Fischer. p. cm. Wiley trader s library Includes index. ISBN 0-471-58520-3 1. Speculation. 2. Stocks. 3. Commodity exchanges. 4. Fibonacci numbers. I. Title. II. Series 1993 dc20 93-7637 Printed in the United States of America 10 987654321 To Jens and Claudius who graciously tolerated my absences and who were missed over the many years more than 1 can ever say. Acknowledgments In 1977 Mr. Joachim Bahr-Vollrath of