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Mta uae forex_fibs_final_copy_nov25_12

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Lecture- Practical Applications of Fibonacci Analysis in the Forex Market, MTA UAE Chapter Meeting- Nov25, 2012

Lecture- Practical Applications of Fibonacci Analysis in the Forex Market, MTA UAE Chapter Meeting- Nov25, 2012

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  • 1. PRACTICAL APPLICATIONS OFFIBONACCI ANALYSIS IN THEFOREX MARKET Market Technicians Association UAE Chapter Meeting November 25, 2012 Presenter: Bruce Powers
  • 2. Presentation summary Guide to Fibonacci ratios Fibonacci measurements  Retracements  Projections  Extensions Practical applications of Fibonacci ratio analysis  GBP/USD - historical walk forward  EUR/USD – recent and current analysis  USD/JPY – current analysis Copyright, Bruce Powers, 2012
  • 3. Liber Abaci (The Book of Calculation), published in  Used to Identify 1202. English translation totals 672 pages. potential support and Introduced Europe to modern arithmetic resistance levels based on past trends.  Based on the mathematical discoveries"Fibonacci, also of Leonardo Pisano—known as Leonardo also known as Fibonacci.of Pisa,19th century statue  Discovered sequence ofof Fibonacci inCamposanto, Pisa. numbers that now bears his name: the Fibonacci sequence. Copyright, Bruce Powers, 2012
  • 4. Fibonacci Summation SeriesNumber series: 1 1 2 3 5 8 13 21 34 55 89 144 233 377 610 987 1.0000 2.0000 1.5000 1.6667 1.6000 1.6250 1.6154 1.6190 1.6176 1.6182 1.6180 1.6181 1.6180 1.6180 1.6180 0.5000 0.6667 0.6000 0.6250 0.6154 0.6190 0.6176 0.6182 0.6180 0.6181 0.6180 0.6180 0.6180 0.6180Start with any two numbers:29 58 87 145 232 377 609 986 1,595 2,581 4,176 6,757 10,933 17,690 28,623 46,313 1.6250 1.6154 1.6190 1.6176 1.6182 1.6180 1.6181 1.6180 1.6180 1.6180 1.6180 0.6190 0.6176 0.6182 0.6180 0.6181 0.6180 0.6180 0.6180 0.6180 0.6180 1.618 = Phi / Golden Mean / Divine Proportion Copyright, Bruce Powers, 2012
  • 5. Golden ratio“Imagine if you cut a line into two segments, one big, andone large. The size of the pieces is "the golden ratio" if theratio of the big piece to the little piece is the same as theratio of the whole line to the big piece.” 1.618 = Phi / Golden Mean / Divine Proportion Copyright, Bruce Powers, 2012
  • 6. Copyright, Bruce Powers, 2012
  • 7. Fibonacci ratios for market analysis  Primary Ratios  Secondary Ratios 0.382 0.236 0.50 0.486 0.618 0.886 (SqRt 0.786) 0.786 (SqRt 0.618) 1.13 1.0 2.236 1.272 (SqRt 1.618) 1.618 3.14 (Pi) 2.0 4.236 2.618 3.618 Can be applied Brucetime and price Copyright, to Powers, 2012
  • 8. Fibonacci measurements Retracements Extensions Projections A C 38.2% B 50% 100% 61.8% D 100% 127.2% 78.6% 127.2% 161.8% 161.8% 161.8% 78.6% 127.2% D 100% 161.8% 61.8% 127.2% B 50% 100% 38.2% C A Copyright, Bruce Powers, 2012
  • 9. USD/JPY - Retracements Copyright, Bruce Powers, 2012
  • 10. USD/JPY - Extensions Copyright, Bruce Powers, 2012
  • 11. USD/JPY - Projections A C D B B D C A Copyright, Bruce Powers, 2012
  • 12. Value of Fibonacci analysis Helps determine when odds move in your favour  Entries  Protective Stops  Targets A guide only - to go along with other analysis  Reversal confirmation needed Non-random nature of the market Price expands then contracts Copyright, Bruce Powers, 2012
  • 13. Price Cluster - Confluence Three or more price relationships identifying the same area of price Confirmation  Support/resistance  Moving averages  21ema, 55ema, 200ema  Chart patterns  Oscillators Be aware for possible Reversal Copyright, Bruce Powers, 2012
  • 14. GBP/USD walk forward10-year Weekly Copyright, Bruce Powers, 2012
  • 15. GBP/USD walk forward w x Copyright, Bruce Powers, 2012
  • 16. GBP/USD walk forward Tight stop Confluence: 3 retracements & 1 extension (AB=CD) Copyright, Bruce Powers, 2012
  • 17. GBP/USD walk forward Bear Flag Copyright, Bruce Powers, 2012
  • 18. GBP/USD walk forward Copyright, Bruce Powers, 2012
  • 19. GBP/USD walk forward Copyright, Bruce Powers, 2012
  • 20. GBP/USD walk forward Copyright, Bruce Powers, 2012
  • 21. AUD/USD Daily Copyright, Bruce Powers, 2012
  • 22. EUR/USD Daily Copyright, Bruce Powers, 2012
  • 23. EUR/USD Weekly Inverse H&S Copyright, Bruce Powers, 2012
  • 24. EUR/USD Weekly H&S target = approx. 1.4312 AB=CD, 100% 1.3785 D B C A Copyright, Bruce Powers, 2012
  • 25. Targets : AB=CD D B C A Copyright, Bruce Powers, 2012
  • 26. EUR/USD Daily Copyright, Bruce Powers, 2012
  • 27. EUR/USD Daily Copyright, Bruce Powers, 2012
  • 28. EUR/USD 120min. Copyright, Bruce Powers, 2012
  • 29. USD/JPY Daily H&S target = 84.1620 Copyright, Bruce Powers, 2012
  • 30. USD/JPY Daily Copyright, Bruce Powers, 2012
  • 31. Thank You Practical applications of Fibonacci analysis in the Forex marketContact: Bruce Powers, CMT brpowers@hotmail.com Copyright, Bruce Powers, 2012
  • 32. Reference Carolyn Boroden, Fibonacci Queen Larry Pesavento, The Trading Tutor Jason Stapleton, Triple Threat Trading Ross Beck, The Gartley Trading Method Scott Carney, HarmonicTrading Suri Duddella, (ABC patterns) Copyright, Bruce Powers, 2012