Best Fibonacci trading book Ever Written

One of my majors was math then later in graduate school I took a 10 hour course entitled advanced mathematics for engineers and scientists. Never heard of the guy till I started trading. It didn't work for me.
 
I hear ETers claim, "doesn't work"... sure, doesn't work all the time, but if you look over the charts, you'll see LOTS AND LOTS of fib retracements.

There was one this morning in the ES, all-session...... looks like "to the tick".
 
Quote from Scataphagos:

I hear ETers claim, "doesn't work"... sure, doesn't work all the time, but if you look over the charts, you'll see LOTS AND LOTS of fib retracements.

There was one this morning in the ES, all-session...... looks like "to the tick".
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Sure, lots and lots. So many, in fact, that if one doesn't "do the job" there is another and another and another. So much so that a Fibonacci aficionado can't ever be proven "wrong." Retrospectively, of course. Not unlike Elliot wavers, I would imagine.

Your education is in the sciences. What leap of faith have you made to justify the supposed validity of Fibonacci numbers in the prediction of collective human behavior in financial markets?
 
Your comments are welcome


http://works.bepress.com/kuldeep_kumar/1/

http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1032&context=business_pubs

Research Paper Conclusion :

The empirical result we obtained does appear to corroborate the claim of technical analysts that there is some predictive utility associated with Fibonacci sequences used as filters in automated trading systems. However we must add that this is merely indicative and by no means conclusive empirical evidence and more exhaustive studies are required before any definite conclusion can be drawn. Nevertheless, our obtained evidence does warrant a further incisive and potentially rewarding research into the topological and statistical interrelationship of Fibonacci sequences with the prices of securities being actively traded on the floors of the global financial markets.
 
Quote from chaos_trader:

Your comments are welcome


http://works.bepress.com/kuldeep_kumar/1/

http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1032&context=business_pubs

Research Paper Conclusion :

The empirical result we obtained does appear to corroborate the claim of technical analysts that there is some predictive utility associated with Fibonacci sequences used as filters in automated trading systems. However we must add that this is merely indicative and by no means conclusive empirical evidence and more exhaustive studies are required before any definite conclusion can be drawn. Nevertheless, our obtained evidence does warrant a further incisive and potentially rewarding research into the topological and statistical interrelationship of Fibonacci sequences with the prices of securities being actively traded on the floors of the global financial markets.
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Just curious...
Have you actually read that paper?
What is your conclusion?
 
The empirical result we obtained does appear to corroborate the claim of technical analysts that there is some predictive utility associated with Fibonacci sequences used as filters in automated trading systems.

:D :D :D
 
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