Technical Analysis for the Trading Professional, Second Edition: Strategies and Techniques for Today’s Turbulent Global Financial Markets, 2nd Edition

Chapter | 2DOMINANT TRADING CYCLES ARE NOT TIME SYMMETRICAL

The first edition described for the reader the standard conventions of using fixed period cycles. I was unaware at the time that I was beginning a personal journey to examine cycle methods in great depth. My first attempt to write about cycles looks so antiquated to me now. The chapter included the use of expanding Fibonacci ratios to forecast the timing of possible market price pivots. The charts demonstrated how poorly these conventional methods worked in a trading environment. The methods described were not comprehensive and the discussion itself had insufficient depth. Some methods of cycle analysis may be appropriate for strategy analysis and other applications are more suited to ...