Profitable Patterns for Stock Trading Reviews
Profitable Patterns for Stock Trading
Over the past 20 years the use and misuse of the Fibonacci Summation series has proliferated to the point that commentators on the nation’s TV business channels are now resident experts. I lay no claim to being an expert. I have, however, studied the subject of Fibonacci numbers extensively, especially how it relates to trading. I have always taken the pragmatic position that if I could not use what I was studying to help in trading, then I was not interested in pursuing it any further. If this material can stimulate your interest in the subject, then introducing you to the subject will have been worthwhile… The pattern recognition methodology illustrated in the text will be of interest to anyone that has ever traded using technical charts. I can say with confidence that there are very few who have researched patterns to the extent I have. Some of the references date back to the early 1900s. Each of these patterns is based on ratio and proportion. A technical ! chart is nothing more than a road map with a price and time axis. These patterns repeat with a great deal of regularity. Some of my best students have been airline pilots. They seem to approach trading like they approach flying, following a flight plan. The similarities to trading are numerous. Finally, one of my goals in writing this book is to expose you to the subject of ancient geometry. Fibonacci numbers are an integral part of the numbers that make up the subject of their origin in the cosmos. I will not spend a significant amount of time relating my experiences in astro-harmonics research. The subject is too vast for me to consider here. More importantly, it is not necessary for profitable trading.
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Profitable Patterns for Stock Trading by Larry Pessavento,
Larry has a good grasp of an excellent concept in patterns that go beyond the old standard wedges, triangles, head and shoulders type formations. The book would be better if the math he used were correct. Many of the examples have math or geometry errors, confusing the reader. Once you are past that and “do your own homework” as he challenges the reader to do, you will see stocks in a whole different light. Some of the patterns he refers to have a mirror image which can appear as well, even though he does not allude to it. The book is a tad pricey, too.
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|reminds me of a children’s book,
Huge pages, skinny book with lots and lots of pictures (charts). Basically the book identifies Gartley and Butterfly patterns with a touch of basic fibonacci rules. Over 2/3 of the book consists of full page charts of examples. My advice if you’re unfamiliar with these patterns is to go to longorshort. c o m and read about it for free. Larry has some examples on his own page. There are numerous typos that will make you scratch your head about the editors. That said, these patterns can be quite reliable if you open your eyes to them and that information alone is worth learning about …
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