Fibonacci rules the Nikkei

The Fibonacci trading method is one of the most useful tools available to traders. To see why, look no further than the recent activity in Japan’s Nikkei index, says John C Burford.

I will be visiting Pisa next month, the birthplace of Leonard of Pisa, otherwise known as Fibonacci. It will be more of a pilgrimage since traders, myself very much included, owe so much to him. This chart of the Nikkei shows exactly why, as I will explain.

I have a video tutorial on how I use Fibonacci's ideas, and if you wish to explore this great man's life and works, I heartily recommend the monograph, Leonard of Pisa and the New Mathematics of the Middle Ages, by J and F Gies.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.