Fibonacci Ratios with Pattern Recognition

Quoted from Robert Miner's Dynamic Trading Analysis Report, Pesavento has been trading for 30 years. Today, he is primarily a day trader. His new book is well focused and organized. The bulk of the book describes a limited number of high probability patterns which coincide with clusters of Fib price projections that provide the short-term trader with high probability and low capital exposure trade set-ups. These trade set-ups are equally valuable for intermediate term traders as well. The short-term set-ups can also be used to enter for an intermediate term position. Quote from 1997 Supertrader's Almanac, Larry Pesavento presents a very persuasive argument that such patterns not only exist, but that the patterns can be profitably employed when they exhibit both the correct form and the form is in the correct proportions.