Breakthrough Strategies for Predicting Any Market: Charting Elliott Wave, Lucas, Fibonacci, Gann, and Time for Profit, 2nd Edition

FOREWORD

It was indeed a privilege to write the foreword for the first edition of Breakthrough Strategies for Predicting Any Market and now an even greater privilege to update it for Jeff’s new book. As a long-term subscriber to his free bi-weekly Fibonacci Newsletter and his Fibonacci Forecaster updates on stocks, commodities, and foreign exchange. I believe these are compelling viewing for his wonderful display of charts and commentary in a format extremely beneficial for traders and investors.

I can say now I have been a practicing Technical Analyst since 1964 and in that time have experienced three major stock market crashes. There are always lessons to be learned and one has to be a step ahead of the crowd. It is much better to be able to use foresight rather than hindsight, which most economists are not able to do. I therefore feel well qualified to pass judgment on Jeff’s latest book.

As a complete novice in 1960 making my first stock market investments when the broker said the market was high, I was soon to find out that I had been buying at the top of a nine-year bull cycle.

In the wake of the 1961 credit squeeze in Australia, the stocks came tumbling down. I realized I had to find out more about markets so I enrolled in the pilot course of the Sydney Stock Exchange at Mosman Evening college only to learn after several years that P/E ratios, earnings, and dividend yields were meaningless if you didn’t get the timing right. Our group threw in five shillings each to a subscription ...