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The Fibonacci channel projections (FCP)

  • #161
  • Apr 9, 2020 8:20am Apr 9, 2020 8:20am
Fresh example.
Simple deal FCP. Explanation on the charts:
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  • #162
  • Apr 9, 2020 9:21am Apr 9, 2020 9:21am
Quoting DonPitt
Hi Seysin32 Can you kindly let me know if this is correct if not...what is wrong? Thanks {image}
Sorry, missed your post.
Unfortunately, it’s no correct. Read in my first post the rules for build TL, and in the following posts where I explain of the channel and the 3rd point.
Also pay attention to how I built the TL and the channel in the post above.
  • #163
  • Apr 9, 2020 1:13pm Apr 9, 2020 1:13pm
Fresh example FCP (right now):
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  • #164
  • Apr 9, 2020 3:26pm Apr 9, 2020 3:26pm
Hello, I am new to this forum, please what platform do you use the method. I see that you mentioned that MT4 is not the best software for graphical constructions.

Thank you.

Quoting Seysin32
A simple and elegant system graphic analysis for trading on any currency pairs and any timeframes. The FCP system is based on a graphic display of the psychology of market participants, expressed in the interaction of prices with TL, S/R, Fibonacci levels. Advantages of FCP: - Simplicity and, subject to proper money management, reliability. - The ability to adapt to your strategy. - May be in addition to your trading method. - Versatility - any pairs, any timeframe. - Clean charts. FCP disadvantages: - Requires some trading experience, not suitable...
Begin with the end in mind
  • #165
  • Apr 9, 2020 4:32pm Apr 9, 2020 4:32pm
Quoting Luttlebird
Hello, I am new to this forum, please what platform do you use the method. I see that you mentioned that MT4 is not the best software for graphical constructions. Thank you. {quote}
Hello. For graphical constructions of the FСP, only 3 tools are needed: a simple line, parallel lines and Fibonacci levels. I think that this can be done in MT4. But I have been using professional software for many years, it’s more convenient for me.
  • #166
  • Apr 9, 2020 10:20pm Apr 9, 2020 10:20pm
au m15 buy set up
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ITB - Seeing Orderliness amongst 'Randomness'
  • #167
  • Apr 10, 2020 12:05am Apr 10, 2020 12:05am
Quoting Inthebox
au m15 buy set up {image}
Hi
Thank you indeed;
took it from your idea ...
I should explain choosing of point #3 later
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  • #168
  • Edited 12:40am Apr 10, 2020 12:12am | Edited 12:40am
Just want to encourage those who really intend to learn this FCP method of trading.
We as individuals learn at different pace due to our own trading experiences.
These experiences nobody can help you, you have to seek your own.
There is no short cut, unless you are willing to pay for a mentor which can be costly.
So do not be discouraged if you don't get it the first few times.

Today I've read post 1 the fourth time.
I remember when I was a newbie I have to read a particular method 10 times.
3 times in the morning, 3 times in the afternoon, 3 times at night.
Then the 10th time the next day to see whether the method is suited to my style of trading.

My personal opinion on Highlights from post 1.
"At the heart of FCP is the idea that the price, breaking out of a diagonal/horizontal channel or triangle, travels a distance equal to the projection of the FIBO levels on the channel width."

So this is a break out method. Not just any break out.
Use it with the main trend then this becomes a break out after a retracement.
The target being a Fib projection based on the channel width.

Hope that you can see the big picture now.
---> Trend trading on retracement break out with entry, stop loss and target.
What more can you ask?
ITB - Seeing Orderliness amongst 'Randomness'
  • #169
  • Apr 10, 2020 1:26am Apr 10, 2020 1:26am
ga m15
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ITB - Seeing Orderliness amongst 'Randomness'
  • #170
  • Apr 10, 2020 1:32am Apr 10, 2020 1:32am
great thread
  • #171
  • Apr 10, 2020 1:35am Apr 10, 2020 1:35am
thanks for ur concern and assistance along with seysin....
its good to receive encouragement
i am presently in EU and will post later
definitely agree with trend trading
  • #172
  • Apr 10, 2020 2:37am Apr 10, 2020 2:37am
Quoting TC48
thanks for ur concern and assistance along with seysin.... its good to receive encouragement i am presently in EU and will post later definitely agree with trend trading
eu h4 trend line analysis up trend
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ITB - Seeing Orderliness amongst 'Randomness'
  • #173
  • Edited 8:51am Apr 10, 2020 3:18am | Edited 8:51am
Hello everyone!
Firstly I want to thank Inthebox for a good post. Really, what more can you ask?
Now a little theory on the example of the current situation with the EUR/USD. In fact, I did not want to talk about this until I gave a full explanation of the basics of the FCP. I think this is not a problem. After yesterday's movement, the price formed a small horizontal channel. Personally, I am not a supporter of trading inside the horizontal channel. I want to see a breakthrough in one direction or another. But this is a matter of your preference. Check out the charts below:
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You may ask, why not draw simple parallel lines above the maximum? Answer: with the right scenario, the maximum probability is the achievement of TP1, the higher the lower the probability. Also, if we use Fibo lines, we get an important trigger level of 0.750-0.786. See more chart examples below:
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Hope this clarifies.
  • #174
  • Apr 11, 2020 1:47am Apr 11, 2020 1:47am
Quoting Inthebox
au m15 buy set up {image}
trying to make sense in higher time frame.
h4 still in up trend.
ranging due to bank holiday.
what will happen if price touches the h4 lowest channel line?
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #175
  • Apr 11, 2020 3:56am Apr 11, 2020 3:56am
Hello friends!
I recorded short videos about how I draw the FCP.
Important points I mark in yellow circles.
When I'm doing it for myself, I spend on it only 5 seconds.
While I post only one video.
I hope, you will like it.
Inserted Video
  • #176
  • Apr 11, 2020 4:29am Apr 11, 2020 4:29am
Quoting Seysin32
Hello friends! I recorded short videos about how I draw the FCP.
A video is worth more than ten thousand words.
ITB - Seeing Orderliness amongst 'Randomness'
  • #177
  • Apr 11, 2020 4:50am Apr 11, 2020 4:50am
Quoting Seysin32
Hello friends! I recorded short videos about how I draw the FCP. Important points I mark in yellow circles. When I'm doing it for myself, I spend on it only 5 seconds. While I post only one video. I hope, you will like it. https://youtu.be/s2M-302JjCs
I like it
Thank you for your valuable advices.
  • #178
  • Apr 11, 2020 5:54am Apr 11, 2020 5:54am
Quoting Seysin32
Hello friends! I recorded short videos about how I draw the FCP. Important points I mark in yellow circles. When I'm doing it for myself, I spend on it only 5 seconds. While I post only one video. I hope, you will like it. https://youtu.be/s2M-302JjCs
Thank you so much for the video. May i know which platform?
  • #179
  • Apr 11, 2020 7:43am Apr 11, 2020 7:43am
Quoting smartvin
{quote} Thank you so much for the video. May i know which platform?
I use ENSIGN.
  • #180
  • Apr 11, 2020 10:31am Apr 11, 2020 10:31am
I don't have this FCP channel indicator in my MT4,Where can I download it?
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