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Show Notes
SECRETS ON FIBONACCI TRADING (Frank Miller)
- Amazon USA Store: https://www.amazon.com/dp/B07SMRY4XP?tag=9natree-20
- Amazon Worldwide Store: https://global.buys.trade/SECRETS-ON-FIBONACCI-TRADING-Frank-Miller.html
- Apple Books: https://books.apple.com/us/audiobook/trading-for-beginners-2-books-in-1-discover-learn-the/id1540356364?itsct=books_box_link&itscg=30200&ls=1&at=1001l3bAw&ct=9natree
- eBay: https://www.ebay.com/sch/i.html?_nkw=SECRETS+ON+FIBONACCI+TRADING+Frank+Miller+&mkcid=1&mkrid=711-53200-19255-0&siteid=0&campid=5339060787&customid=9natree&toolid=10001&mkevt=1
- Read more: https://mybook.top/read/B07SMRY4XP/
#Fibonacciretracement #Fibonacciextension #supportandresistance #priceactiontrading #riskmanagement #SECRETSONFIBONACCITRADING
These are takeaways from this book.
Firstly, Foundations of Fibonacci Levels and Market Behavior, A central topic is what Fibonacci levels represent in trading and why many market participants watch them. The book frames Fibonacci ratios as widely observed reference points that can influence behavior, creating areas where price may pause, reverse, or accelerate. It explains the common retracement levels such as 38.2, 50, and 61.8 and how they are used to estimate potential pullback depth within an existing trend. The discussion emphasizes that these levels are zones, not exact prices, which helps readers avoid overly rigid expectations. You also learn the difference between retracements, which measure pullbacks, and extensions, which project potential targets beyond a prior swing. The practical takeaway is an improved ability to interpret market structure, distinguishing trending phases from corrective phases. By tying Fibonacci tools to basic price action logic, the book encourages traders to treat the levels as a framework for planning rather than a stand alone signal. This foundation supports later topics such as choosing the right swing points and combining Fibonacci with confirmation filters.
Secondly, How to Draw Fibonacci Correctly Using Swing Highs and Lows, Another key topic is the mechanics of drawing Fibonacci retracements and extensions correctly, since poor anchoring often leads to misleading levels. The book stresses selecting the correct swing high and swing low based on the timeframe you trade and the clarity of the move you are measuring. It highlights the importance of aligning your Fibonacci tool with the dominant trend and avoiding cherry picked anchors that fit a desired outcome. Readers are guided to look for obvious impulse moves, then map retracement levels to anticipate where a correction might end. It also emphasizes consistency, meaning you should apply the same selection rules each time so your results can be evaluated. The topic addresses how different timeframes can produce different Fibonacci structures, and why traders should avoid mixing signals from incompatible charts unless they understand multi timeframe context. The practical result is cleaner charts and more reliable planning. When Fibonacci levels are drawn from meaningful swings, they more often align with visible support and resistance, making trade decisions easier to justify and manage.
Thirdly, Planning Entries and Exits with Confluence and Confirmation, The book emphasizes that Fibonacci levels work best when combined with other evidence, a concept often described as confluence. This topic explains how traders can look for overlap between Fibonacci zones and other market features such as horizontal support and resistance, trendlines, moving averages, or previous swing points. The idea is to avoid taking trades solely because price touched a Fibonacci level. Instead, you wait for confirmation, which could include a clear rejection candle, a shift in short term structure, or momentum returning in the direction of the trend. The book also discusses using Fibonacci extensions to set profit targets, helping traders define exits before entering. By planning both entry triggers and exit objectives, the approach supports more disciplined execution and reduces impulsive decisions. The explanation frames Fibonacci as a map of likely reaction zones, while confirmation acts as the go or no go filter. This combination can improve trade quality by reducing random entries, and it can also make post trade review more objective because the rules for confluence and confirmation are documented and repeatable.
Fourthly, Risk Management and Trade Control Using Fibonacci Zones, Risk control is presented as essential, and Fibonacci levels are positioned as helpful reference points for structuring stops and position sizing. This topic explains how a trader might place protective stops beyond a Fibonacci zone or beyond the swing that invalidates the trade idea, rather than using arbitrary distances. By anchoring risk to market structure, the trader can better justify the stop placement and avoid getting stopped out by normal noise inside the zone. The book also connects Fibonacci based planning to reward to risk evaluation, encouraging traders to target extensions or prior highs and lows that offer a favorable ratio relative to the stop. Another focus is avoiding overconfidence, since Fibonacci tools do not guarantee reversals. The book encourages a mindset of probability and damage control, using small predefined losses and consistent sizing to survive inevitable losing streaks. It also highlights the importance of journaling and reviewing whether stops were placed logically and whether the trade followed the planned rules. The main benefit is a clearer process for defining invalidation points, managing exposure, and staying disciplined even when the market behaves unexpectedly.
Lastly, Common Mistakes, Market Context, and Building a Simple Routine, A practical topic is recognizing frequent mistakes traders make with Fibonacci and replacing them with a simple routine. The book points out issues such as drawing levels on messy price action, forcing anchors to fit a narrative, or assuming every retracement will stop at a favorite ratio. It also addresses the danger of ignoring market context, such as trading Fibonacci signals against a strong trend or during high volatility events without adjusting expectations. The routine presented is about step by step decision making: identify trend and key swing, draw Fibonacci, mark the zone, wait for price to reach it, then require confirmation before acting. The book encourages traders to keep charts uncluttered and to focus on a small set of levels and rules that can be executed consistently. It also suggests practicing on historical charts to see how levels behave across different instruments and conditions, which helps build intuition without relying on hope. By emphasizing process over prediction, this topic helps traders reduce randomness, improve consistency, and develop the patience to wait for higher quality setups.
- Amazon USA Store: https://www.amazon.com/dp/B07SMRY4XP?tag=9natree-20
- Amazon Worldwide Store: https://global.buys.trade/SECRETS-ON-FIBONACCI-TRADING-Frank-Miller.html
- Apple Books: https://books.apple.com/us/audiobook/trading-for-beginners-2-books-in-1-discover-learn-the/id1540356364?itsct=books_box_link&itscg=30200&ls=1&at=1001l3bAw&ct=9natree
- eBay: https://www.ebay.com/sch/i.html?_nkw=SECRETS+ON+FIBONACCI+TRADING+Frank+Miller+&mkcid=1&mkrid=711-53200-19255-0&siteid=0&campid=5339060787&customid=9natree&toolid=10001&mkevt=1
- Read more: https://mybook.top/read/B07SMRY4XP/
#Fibonacciretracement #Fibonacciextension #supportandresistance #priceactiontrading #riskmanagement #SECRETSONFIBONACCITRADING
These are takeaways from this book.
Firstly, Foundations of Fibonacci Levels and Market Behavior, A central topic is what Fibonacci levels represent in trading and why many market participants watch them. The book frames Fibonacci ratios as widely observed reference points that can influence behavior, creating areas where price may pause, reverse, or accelerate. It explains the common retracement levels such as 38.2, 50, and 61.8 and how they are used to estimate potential pullback depth within an existing trend. The discussion emphasizes that these levels are zones, not exact prices, which helps readers avoid overly rigid expectations. You also learn the difference between retracements, which measure pullbacks, and extensions, which project potential targets beyond a prior swing. The practical takeaway is an improved ability to interpret market structure, distinguishing trending phases from corrective phases. By tying Fibonacci tools to basic price action logic, the book encourages traders to treat the levels as a framework for planning rather than a stand alone signal. This foundation supports later topics such as choosing the right swing points and combining Fibonacci with confirmation filters.
Secondly, How to Draw Fibonacci Correctly Using Swing Highs and Lows, Another key topic is the mechanics of drawing Fibonacci retracements and extensions correctly, since poor anchoring often leads to misleading levels. The book stresses selecting the correct swing high and swing low based on the timeframe you trade and the clarity of the move you are measuring. It highlights the importance of aligning your Fibonacci tool with the dominant trend and avoiding cherry picked anchors that fit a desired outcome. Readers are guided to look for obvious impulse moves, then map retracement levels to anticipate where a correction might end. It also emphasizes consistency, meaning you should apply the same selection rules each time so your results can be evaluated. The topic addresses how different timeframes can produce different Fibonacci structures, and why traders should avoid mixing signals from incompatible charts unless they understand multi timeframe context. The practical result is cleaner charts and more reliable planning. When Fibonacci levels are drawn from meaningful swings, they more often align with visible support and resistance, making trade decisions easier to justify and manage.
Thirdly, Planning Entries and Exits with Confluence and Confirmation, The book emphasizes that Fibonacci levels work best when combined with other evidence, a concept often described as confluence. This topic explains how traders can look for overlap between Fibonacci zones and other market features such as horizontal support and resistance, trendlines, moving averages, or previous swing points. The idea is to avoid taking trades solely because price touched a Fibonacci level. Instead, you wait for confirmation, which could include a clear rejection candle, a shift in short term structure, or momentum returning in the direction of the trend. The book also discusses using Fibonacci extensions to set profit targets, helping traders define exits before entering. By planning both entry triggers and exit objectives, the approach supports more disciplined execution and reduces impulsive decisions. The explanation frames Fibonacci as a map of likely reaction zones, while confirmation acts as the go or no go filter. This combination can improve trade quality by reducing random entries, and it can also make post trade review more objective because the rules for confluence and confirmation are documented and repeatable.
Fourthly, Risk Management and Trade Control Using Fibonacci Zones, Risk control is presented as essential, and Fibonacci levels are positioned as helpful reference points for structuring stops and position sizing. This topic explains how a trader might place protective stops beyond a Fibonacci zone or beyond the swing that invalidates the trade idea, rather than using arbitrary distances. By anchoring risk to market structure, the trader can better justify the stop placement and avoid getting stopped out by normal noise inside the zone. The book also connects Fibonacci based planning to reward to risk evaluation, encouraging traders to target extensions or prior highs and lows that offer a favorable ratio relative to the stop. Another focus is avoiding overconfidence, since Fibonacci tools do not guarantee reversals. The book encourages a mindset of probability and damage control, using small predefined losses and consistent sizing to survive inevitable losing streaks. It also highlights the importance of journaling and reviewing whether stops were placed logically and whether the trade followed the planned rules. The main benefit is a clearer process for defining invalidation points, managing exposure, and staying disciplined even when the market behaves unexpectedly.
Lastly, Common Mistakes, Market Context, and Building a Simple Routine, A practical topic is recognizing frequent mistakes traders make with Fibonacci and replacing them with a simple routine. The book points out issues such as drawing levels on messy price action, forcing anchors to fit a narrative, or assuming every retracement will stop at a favorite ratio. It also addresses the danger of ignoring market context, such as trading Fibonacci signals against a strong trend or during high volatility events without adjusting expectations. The routine presented is about step by step decision making: identify trend and key swing, draw Fibonacci, mark the zone, wait for price to reach it, then require confirmation before acting. The book encourages traders to keep charts uncluttered and to focus on a small set of levels and rules that can be executed consistently. It also suggests practicing on historical charts to see how levels behave across different instruments and conditions, which helps build intuition without relying on hope. By emphasizing process over prediction, this topic helps traders reduce randomness, improve consistency, and develop the patience to wait for higher quality setups.
