The Fibonacci channel projections (FCP) | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fibonacci Time Projections 9 replies

Difference between Fibonacci extensions, projections and expansions? 5 replies

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

Mastering False breaks, trendline and fibonacci projections 57 replies

Fibonacci Projections 8 replies

Attachments: The Fibonacci channel projections (FCP)
Exit Attachments

The Fibonacci channel projections (FCP)

  • #221
  • Apr 13, 2020 5:19am Apr 13, 2020 5:19am
Quoting Inthebox
ej m30. let's see. {image}
ej m30 retraced to fib 50
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 19 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #222
  • Apr 13, 2020 6:41am Apr 13, 2020 6:41am
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...
Hi, im trying to understand the system and youve explained it very well. I have 1 question, you show multiple TP levels in your graphs, but only 1 entry level. What does that mean? Do you not close the whole trade once it reaches tp level or do you have multiple positions open (if so at what fib levels do you open them?)

Thanks!
  • #223
  • Edited 8:20am Apr 13, 2020 8:06am | Edited 8:20am
Quoting Luttlebird
{quote} I hope the images below buttress Seysin's point. {image} {image}
What if the pullback only touching the FIb channel and only by its wick not the whole body passing the channel, will it consider also need redraw the channel or only require rearrange the Fibo retracement start from the wick that touching the channel? look at message 175 the Video Seysin uploaded, i think just need to move the fibo
  • #224
  • Apr 13, 2020 8:12am Apr 13, 2020 8:12am
Quoting Inthebox
{quote} 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? {image}
closed finally.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 22 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #225
  • Apr 13, 2020 8:37am Apr 13, 2020 8:37am
Quoting 47someone
{quote} Hi, im trying to understand the system and youve explained it very well. I have 1 question, you show multiple TP levels in your graphs, but only 1 entry level. What does that mean? Do you not close the whole trade once it reaches tp level or do you have multiple positions open (if so at what fib levels do you open them?) Thanks!
Hello.
I open a deal at the trigger level 1 or 2 (1.000 or 0.750-0.786).
When the price reaches TP1 (0.382), I close part of the position, usually 1/3, and move SL to the BE for the rest part.
When the price reaches TP2, I close one more part, and allow the rest to grow. If I opened at trigger level 1, and then get another signal at trigger 2, I can add.
I prefer to take profits and decline losses, I feel so comfortable, but you can do otherwise. It all depends on what timeframe you are working on and what profit will satisfy you. If on H1 and above, you can increase the position gradually.
  • #226
  • Apr 13, 2020 9:01am Apr 13, 2020 9:01am
Greetings @Saysin32,

Thank you for your method. I am new to this forum and have been reading your thread over the weekend. Below is my take on usd/chf hourly chart. Could you advise if I have drawn the chart correctly? or what I can do to improve on it? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-h1.png Size: 39 KB
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #227
  • Apr 13, 2020 10:34am Apr 13, 2020 10:34am
hi Seysin32 can you share here your fibo indi pls
  • #228
  • Apr 13, 2020 10:47am Apr 13, 2020 10:47am
Quoting Inthebox
gj m30. let's see. {image}
gj m30 retraced to trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 23 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #229
  • Apr 13, 2020 10:54am Apr 13, 2020 10:54am
Quoting Unmotivated
Greetings @Saysin32, Thank you for your method. I am new to this forum and have been reading your thread over the weekend. Below is my take on usd/chf hourly chart. Could you advise if I have drawn the chart correctly? or what I can do to improve on it? Thanks. {image}
Hello and welcome.
Not bad FСP. It's simple - look for signals at trigger levels. Add to this an analysis of a higher timeframe or other signals from your system.
For example, as on my chart below. To improve, train more to find FСP on old charts.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h1 1.JPG Size: 127 KB
  • #230
  • Apr 13, 2020 10:58am Apr 13, 2020 10:58am
Quoting ildaa89
hi Seysin32 can you share here your fibo indi pls
I do not have an indicator.
Surprised? Then read the thread carefully.
  • #231
  • Apr 13, 2020 11:14am Apr 13, 2020 11:14am
Quoting Seysin32
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....
Thanks for the previous response! The method you show in this post seems very different from what you explained before. What does A=B mean? Could you explain whats going on in this post a bit more?
  • #232
  • Apr 13, 2020 11:20am Apr 13, 2020 11:20am
Quoting GoldBean
{quote} What if the pullback only touching the FIb channel and only by its wick not the whole body passing the channel, will it consider also need redraw the channel or only require rearrange the Fibo retracement start from the wick that touching the channel? look at message 175 the Video Seysin uploaded, i think just need to move the fibo
depending on situation and to be seen in the whole context.
in the video:
1. at 0.20 the wick touched the channel and point 1 was shifted to the right.
2. later on point 1 was not moved.
3. compare the passage of time. 1 above price moved up for more than a day before coming into contact with channel, whereas 2 above hours passed.
ITB - Seeing Orderliness amongst 'Randomness'
  • #233
  • Apr 13, 2020 11:24am Apr 13, 2020 11:24am
Quoting Seysin32
{quote} Hello and welcome. Not bad FСP. It's simple - look for signals at trigger levels. Add to this an analysis of a higher timeframe or other signals from your system. For example, as on my chart below. To improve, train more to find FСP on old charts. {image}
Hi @Seysin32, Thank you for your sharing.

I understand that this system does not use any indicators but just out of curiosity for the chart that you have shown me; may I know what is the indicator at the bottom of your chart and what settings please.

Appreciate.
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #234
  • Edited 12:37pm Apr 13, 2020 11:26am | Edited 12:37pm
Can you tell me if i drew this correctly? it seemed that the entry level is at 625, but after going below the breakdown it went back up. Is there an error in my channel ?
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-13 19.35.19.png Size: 164 KB
  • #235
  • Apr 13, 2020 1:22pm Apr 13, 2020 1:22pm
Quoting 47someone
{quote} Thanks for the previous response! The method you show in this post seems very different from what you explained before. What does A=B mean? Could you explain whats going on in this post a bit more?
All the same, only for a horizontal channel. A - channel width, B - projection width. Here is today's gold example.
Attached Image (click to enlarge)
Click to Enlarge Name: 756756.JPG Size: 79 KB
  • #236
  • Apr 13, 2020 1:30pm Apr 13, 2020 1:30pm
Quoting Unmotivated
{quote} Hi @Seysin32, Thank you for your sharing. I understand that this system does not use any indicators but just out of curiosity for the chart that you have shown me; may I know what is the indicator at the bottom of your chart and what settings please. Appreciate.
I showed divergence MACD, settings: 12 Exp/close, 26 Simple/close, 9 Simple.
  • #237
  • Apr 13, 2020 1:36pm Apr 13, 2020 1:36pm
Quoting 47someone
Can you tell me if i drew this correctly? it seemed that the entry level is at 625, but after going below the breakdown it went back up. Is there an error in my channel ? {image}
I would like to see the left side of the chart, where the price went up. But before that, tell me - what is the timeframe?
  • #238
  • Apr 13, 2020 2:06pm Apr 13, 2020 2:06pm
Quoting Seysin32
{quote} I showed divergence MACD, settings: 12 Exp/close, 26 Simple/close, 9 Simple.
Thank you @Seysin32
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #239
  • Apr 13, 2020 2:28pm Apr 13, 2020 2:28pm
Quoting Seysin32
{quote} I would like to see the left side of the chart, where the price went up. But before that, tell me - what is the timeframe?
Hi Seysin, The timeframe is 1 minute, here is the rest of the chart. It ended up going way up after and hitting my SL.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-13 21.28.02.png Size: 208 KB
  • #240
  • Apr 13, 2020 2:46pm Apr 13, 2020 2:46pm
Quoting 47someone
{quote} Hi Seysin, The timeframe is 1 minute, here is the rest of the chart. It ended up going way up after and hitting my SL. {image}
While you are learning, forget about the 1 min chart. Not less than 30 minutes.
0 traders viewing now