This book is a critical exploration of Fibonacci numbers, retracements, projections, time frames and fanlines, and their current usage within the financial markets by technical analysts. These methods are seen as effective technical analysis tools, however the author also sets out occasions when using them is inappropriate and can be costly in both financial and credibility terms. He investigates common assumptions that screen-based charting systems, which allow traders and students to draw Fibonacci retracements and angles without indicating their drawbacks, can lead to the inaccurate application of an otherwise powerful tool.

After a brief look at the history of Fibonacci, the author moves on to its use and application within pricing action in financial markets (Fixed Income, Equity, Foreign Exchange, Commodity and Index). He takes a practical look at the often-misunderstood Gann Analysis and shows the reader how to apply Gann techniques in order to improve trading profitability. He also draws attention to the overuse and misuse of easily applied computer packages available to professional and amateur traders.

The enclosed CD-ROM contains colour Fibonacci charts as well as Gann retracements and projections. Additionally, content includes Gann Hexagon and Square spreadsheets for Price/Yield and day count.

'Fibonacci and especially Gann analysis is perceived by many to be complex, esoteric analysis and thus many people simply ignore it. MacLean has taken a tough subject matter and made it easy to follow and, more importantly, easy to use. A very useful book for any trader, for any market.' Katherine Beattie, CFA