Disliked{quote} Thank you the video does not use the standard mt4 tools if I am right it seems to be done using a different platform.Ignored
Begin with the end in mind
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Disliked{quote} Thank you the video does not use the standard mt4 tools if I am right it seems to be done using a different platform.Ignored
Disliked{quote} In the image, please how did you determine the 127.2 level that is above the 0.0 level. It doesn't have the same with as the 127.2 level below the 100.0 level. Thank you.Ignored
That is all that is need to use the tool in MT4. Hope it is useful for someone.
Thanks.
DislikedHi All, This is for anyone who is using MT4 and wants to get the Fibo Channel tool settings right. 1. Draw out the Fibo Channel tool on your chat. 2. Go to the properties of the Fibo Channel tool and use the parameters below... Common : Change the Style setting to a colour that fits your background (I use Red) Fibo Levels : Use levels -0.25, -0.5,-0.75. Change the style color as needed (I use Blue) and I use the dashed line. That is all that is need to use the tool in MT4. Hope it is useful for someone. Thanks. {image}...Ignored
DislikedOkay, let's continue. So, we have a channel and a Fibo projection of its width. The fact that the price has broken the channel is not a reason to open a deal. We must look for a situation, where the price rolls back to trigger levels (1.000 or 0.750-0.768) and cannot overcome them. It may look like a pin-bar, doji Heikin-Ashi, candelstick model, failure swing pattern (by Tom Dante) or any reversal signal that you use in your trading system. I always wait for a signal at trigger levels and if it is not there, I will not take a deal, even if the price...Ignored
Dislikedhi there, is it a must for point 3 to only coincide with the mid channel? or it can coincide with the last line too? also, how do you draw a perfect channel whereby point 3 coincides with the mid channel, i tried doing it with mt4 but it is not accurate... thanks {image}Ignored
Disliked{quote} ...personally i prefer to see the latest point 3 to be lower than the previous peaks. this is to show that the momentum going up is slowing, in which case point 1 has to be shifted to the right {image}Ignored