PHI-spirals: to identify trend reversals in the market

An example I have seen today:Robert Fischer PHI Spirals - price, time and trend reversal analysis-2012-09-25_1636.png

book on the topic -> The New Fibonacci Trader: Tools and Strategies for Trading Success: Robert Fischer,Jens Fischer: 9780471419105: Amazon.com: Books

interesting to read from the book ... The New Fibonacci Trader: Tools and Strategies for Trading Success - Robert Fischer, Jens Fischer - Google Ksi