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The Fibonacci channel projections (FCP)

  • #41
  • Apr 4, 2020 4:04am Apr 4, 2020 4:04am
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!
  • #42
  • Apr 4, 2020 4:22am Apr 4, 2020 4:22am
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?
  • #43
  • Apr 4, 2020 5:16am Apr 4, 2020 5:16am
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.
  • #44
  • Apr 4, 2020 5:44am Apr 4, 2020 5:44am
Mr. Seysin32 is this composition correct?
Thank you for your patience
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  • #45
  • Apr 4, 2020 8:43am Apr 4, 2020 8:43am
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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  • #46
  • Apr 4, 2020 9:25am Apr 4, 2020 9:25am
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.
  • #47
  • Apr 4, 2020 9:27am Apr 4, 2020 9:27am
Quoting tallshirley
{quote}
Yes, it’s good now!
  • #48
  • Apr 4, 2020 9:42am Apr 4, 2020 9:42am
[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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  • #49
  • Apr 4, 2020 9:59am Apr 4, 2020 9:59am
Dear Seysin32,
Please do I get the channel right?
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  • #50
  • Apr 4, 2020 10:26am Apr 4, 2020 10:26am
Quoting oluwagbenga
Dear Seysin32, Please do I get the channel right? {image}
No, unfortunately. TL is built incorrectly.
  • #51
  • Apr 4, 2020 10:31am Apr 4, 2020 10:31am
Do I get this right?
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  • #52
  • Apr 4, 2020 10:41am Apr 4, 2020 10:41am
Quoting Seysin32
{quote} No, unfortunately. TL is built incorrectly.
please let me know how I get it wrong?
  • #53
  • Apr 4, 2020 10:45am Apr 4, 2020 10:45am
Quoting Seysin32
{quote} No, unfortunately. TL is built incorrectly.
Can you share video clip dreaw TL?
  • #54
  • Apr 4, 2020 10:53am Apr 4, 2020 10:53am
What about this
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  • #55
  • Apr 4, 2020 10:58am Apr 4, 2020 10:58am
What is the difference
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  • #56
  • Apr 4, 2020 11:11am Apr 4, 2020 11:11am
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
  • #57
  • Apr 4, 2020 11:29am Apr 4, 2020 11:29am
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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  • #58
  • Apr 4, 2020 11:33am Apr 4, 2020 11:33am
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.
  • #59
  • Apr 4, 2020 11:43am Apr 4, 2020 11:43am
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.
  • #60
  • Apr 4, 2020 11:55am Apr 4, 2020 11:55am
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