Forex Conquered By John L. Person Shows How To Combine Fibonacci Analysis With Pivot Points And Candlestick Charting!

Forex Conquered: High Probability Systems and Strategies for Active Traders by John L. Person is for those serious traders who want to take their trading to the next higher level with Pivot Points. John L. Person is considered to an expert of Pivot Point Trading.  Combining Fibonacci Analysis with Pivot Point Analysis can give you a real powerful combination of two leading indicators. Most traders get familiar with the usual Fibonacci Ratios, the 38%, the 50% and the 61.8% ratios. But there is a lot more to the Fibonacci Analysis than these ratios and in his book John shows how you can combine these two powerful Technical Analysis Tools, The Fibonacci and the Pivot Points.

Buy Low, Sell High is what everyone knows. Forex Conquered: High Probability Systems and Strategies for Active Traders (Wiley Trading) shows you how. As a day trader or a swing trader, we need to trade in active time periods. We need to identify conditional changes in the market. We need to know how to use the Trendlines and the Moving Averages in certain market conditions. We also need to incorporate the Support and Resistance Levels in our trading. Now, Support and Resistance is one of the most basic concepts that a trader needs to master. In his book, Forex Conquered, John shows you how you can accurately calculate the Support and Resistance Levels from such mathematical based models as Pivot Point Analysis and the Fibonacci Correction and Extension.

Pivot Points work best on the daily, weekly and the monthly charts. Fibonacci Analysis will help you confirm your longer term analysis done with the help of Pivot Points. Fibonacci Retracements works best for the intraday trading and works extremely well for the day trading corrections on the strong trending days. Pivot Points don’t work well on the narrow range days and here you can apply your knowledge of Fibonacci Analysis.

The fact is that no single tool is the holy grail. But by combining these two powerful technical analysis tools, you can come as close as possible to your holy grail. There will be many times when Fibonacci Analysis as a tool will outperform the Pivot Point Analysis to help identify the price measurement targets. There will be times when the daily pivot points will not be as effective as they will be too far away from the current market. Or in some cases the market might as well blow right past them. It can happen when the prior trading session has been a narrow range day followed by a major breaking news that can be the release of a fundamental report. With the increase in volatility, the rage expands and the pivot points become useless.

For insights like these, you need to read John L. Person’s Forex Conquered: High Probability Systems and Strategies for Active Traders (Wiley Trading). John infact show you how you can combine the three most power technical analysis tools, the Candlestick Charting, Fibonacci Analysis and the Pivot Point Analysis in your daily trading with deadly accuracy.

If you are new but keen on conquering the world of forex, you don’t need to worry. John starts from the very basics of forex trading in his book. There are many ways to trade forex. You can trade spot forex, you can trade forex futures, you can trade forex options, you can trade forex ETFs. So, John starts by asking this basic question why trade the spot forex market? This is the first question that John asks in his Forex Conquered eBook. This makes him discuss the pros and cons of trading spot forex versus forex futures. He compares the forex versus the futures market. This discussion will help you develop a fairly good idea of how both the spot forex and the forex futures markets work.  

After that he takes you step by step on your journey to develop your own trading plan and your own trading system. You can keep coming back to Forex Conquered: High Probability Systems and Strategies for Active Traders (Wiley Trading) for future reference just to refresh your concepts.