Fibonacci and Harmonic Trading

The measurement strategies within the Harmonic Trading approach employ the somewhat controversial use of Fibonacci ratios. The recent popularity of the mystique of ancient codes has led to an unfortunate distortion of the true value that these methods inherently possess. In fact, it is almost hilarious that there are now numerous financial websites and publications claiming to possess the “Fibonacci Secrets,” the Gann version of the Harmonic Trader, the quick Harmonic Trader, or the proper Fibonacci node levels that attempt to mimic the Harmonic Trading methodology. I say almost hilarious because most of it is not. The blatant borrowing of these techniques without proper citation and credit has become the standard in this industry, I am sorry to say. In fact, most of the Fibonacci-related material on trading the markets is misleading and frequently cite only the well-chosen examples to demonstrate their techniques.