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Attachments: The Fibonacci channel projections (FCP)
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The Fibonacci channel projections (FCP)

Quoting dorood
{quote} Here should be your answer' Thanks a lot Mr. Seysin32 {image}
Quoting dorood
{quote} Hi For MetaTrader4 users, I think the " Fibo Channel " with modified levels, is the best for drawing the channel. The regular fibo channel in MT4 is not an equal distance channel. By changing the default setting ( as I show in the image ), we can make the equidistant channel with 5 lines ( the regular fibo channel has 6 lines ) for using in this system. This fibo channel does not have any relation with fibo levels , which we have to use in next step of the system. {image}
Thanks. You showed and explained correctly. I do not use MT4 for graphical constructions, only to open positions on one of my accounts. But, I think this is not a problem, and you showed it.
Quoting krakof
Gracias {image}
Exactly!
Quoting tallshirley
{quote} Dear Seysin, thank you very much for working out this model, i re-learn and understand much more. I use fractal to find the bottoms and this system will help in avoiding the fake out signal. As we follow the price movement, we tends to jump into trade too early, FOMO. This system provide clear guidance & we can set standing orders, really set & forget. Please let me know if my understanding is correct. 1st chart: when the price cross below the channel, we may enter sell limit at Fibo level 0.786; However, when the price move back into the...
Your channel is built incorrectly, which means everything else too. Once again, re-read all my posts about FCP constructions and carefully study all the examples (so far there are not many). In the future, you can use additional indicators to confirm the entry. But we have not yet considered anything but the construction of the channel and the TL. Therefore, I strongly recommend that you and everyone here train to build a TL and a channel. Just rewind the chart six months ago and draw, draw and draw. In the next stages, we will consider what precedes the breakdown of the channel, the behavior of the price after the breakdown, the correct location of the Fibo levels, trigger levels and the opening of a position. I think I blabbed too much, no?
Friends, here is an example of FСP setups from start to finish. This is an example of ideal setups about which I wrote in this post.
Such setups are rare, but they have a fairly high probability of a model triggering. In this example, the deal brought 90 pips or so.
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Hope, this clarifies your understanding.
Mr. Seysin32 is this composition correct?
Thank you for your patience
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Quoting Seysin32
{quote} Your channel is built incorrectly, which means everything else too. Once again, re-read all my posts about FCP constructions and carefully study all the examples (so far there are not many). In the future, you can use additional indicators to confirm the entry. But we have not yet considered anything but the construction of the channel and the TL. Therefore, I strongly recommend that you and everyone here train to build a TL and a channel. Just rewind the chart six months ago and draw, draw and draw. In the next stages, we will consider...
Dear Seysin, thank you again & I hope you dont mind I kept asking as I'm keen to learn... I appreciate your great advice as it help me to learn more (No, i dont think you blabbed, but you patiently sharing your knowledge)...

So i copy & paste your charts and instructions, trying to learn more. With the same chart of UJ H1, I hope you dont mind examine my drawing & see if I got it correct this time. Much appreciate your patience .... Cheers!

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Quoting krakof
Mr. Seysin32 is this composition correct? Thank you for your patience {image}
You created the TL correctly. But the channel is weak, usually I do not trade such.
The middle line is free and the second side of the channel is also free, i.e. point 3 is missing.
Quoting tallshirley
{quote}
Yes, it’s good now!
[quote = Seysin32; 12857667] {quote} Creaste el TL correctamente. Pero el canal es débil, por lo general no cambio tal. La línea media está libre y el segundo lado del canal también está libre, es decir, falta el punto 3. [/ quote]

Would it be okay now?
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Dear Seysin32,
Please do I get the channel right?
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Quoting oluwagbenga
Dear Seysin32, Please do I get the channel right? {image}
No, unfortunately. TL is built incorrectly.
Do I get this right?
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Quoting Seysin32
{quote} No, unfortunately. TL is built incorrectly.
please let me know how I get it wrong?
Quoting Seysin32
{quote} No, unfortunately. TL is built incorrectly.
Can you share video clip dreaw TL?
What about this
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What is the difference
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Quoting krakof
[quote = Seysin32; 12857667] {quote} Creaste el TL correctamente. Pero el canal es débil, por lo general no cambio tal. La línea media está libre y el segundo lado del canal también está libre, es decir, falta el punto 3. [/ quote] Would it be okay now? {image}
Is this one correct? Expert
Quoting oluwagbenga
{quote}
Please read a few posts above, where I show on the chart the construction of the TL step by step. Here is how I would build a channel in this case. But, I have already said that I do not like him. I regard the chances of performing the Fibo projection as very low. Maximum 50/50. Maybe the price will make a correction and reach our TP. Or maybe the trend will continue. If in doubt, it is better to refrain from trading and switch to another pair. Swings inside the channel, points 1, 2, 3 must be such that they scream. I hope you understand, we must immediately see and understand them, this is what we need. If in doubt, it is better to look for another setting.
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Quoting thisara1
{quote} Can you share video clip dreaw TL?
Maybe someday I will record a video. I don’t have time for this yet.
Friends, since you are asking me, let me give you advice. These are simple things and you have heard it many times, or you yourself have said it to others. Do not try to apply this to live trading now. Testing old charts. Then you can make one movement with the mouse to the left side and immediately check the correctness of your FCP setups. Price will tell you that.
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