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The Fibonacci channel projections (FCP)

  • #241
  • Apr 13, 2020 1:28pm Apr 13, 2020 1:28pm
Quoting Seysin32
{quote} While you are learning, forget about the 1 min chart. Not less than 30 minutes.
Okay will do. My biggest issue right now is making the channel I think. I dont know how to test whether ive made it correctly or not.
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  • #242
  • Apr 13, 2020 2:05pm Apr 13, 2020 2:05pm
Quoting 47someone
{quote} Okay will do. My biggest issue right now is making the channel I think. I dont know how to test whether ive made it correctly or not. {image}
Please, read the rules for building FСP again.
My chart for comparison:
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  • #243
  • Apr 13, 2020 8:31pm Apr 13, 2020 8:31pm
ea m30 set up.
be careful if price does not come down, h4 becomes a pin bar.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #244
  • Apr 13, 2020 8:59pm Apr 13, 2020 8:59pm
another set up for ej h4 but it's not the normal fib retracement.
see whether you can find it.
ITB - Seeing Orderliness amongst 'Randomness'
  • #245
  • Apr 13, 2020 9:51pm Apr 13, 2020 9:51pm
Quoting Inthebox
another set up for ej h4 but it's not the normal fib retracement. see whether you can find it.
Hi @Inthebox, is it a double-top for readings between the start of April to date?
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #246
  • Apr 13, 2020 10:15pm Apr 13, 2020 10:15pm
Quoting Unmotivated
{quote} Hi @Inthebox, is it a double-top for readings between the start of April to date?
no, it's a h4 support turned resistance on 8apr.
ITB - Seeing Orderliness amongst 'Randomness'
  • #247
  • Apr 13, 2020 11:31pm Apr 13, 2020 11:31pm
Quoting Inthebox
{quote} no, it's a h4 support turned resistance on 8apr.
Hi @Inthebox, noted with thanks.
Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #248
  • Apr 13, 2020 11:37pm Apr 13, 2020 11:37pm
Quoting Inthebox
ea m30 set up. be careful if price does not come down, h4 becomes a pin bar. {image}
so the expected happened.
the trade gave 25 pips gain before price went up.
i am still in the trade.
i do not use hard stop loss. use it only when i am asleep.
i only exit a trade by looking at the candle at a resistance level.
this is a personal preference.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #249
  • Apr 13, 2020 11:48pm Apr 13, 2020 11:48pm
hi @Seysin32,

I have made another take on eurusd hourly chart. If I have drawn the chart correctly, it looks like a good SELL entry if there is a price signal at 0.786-0.750 range. What is your opinion? Thanks in advance.
Attached Image (click to enlarge)
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Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #250
  • Apr 14, 2020 1:16am Apr 14, 2020 1:16am
Quoting Inthebox
another set up for ej h4 but it's not the normal fib retracement. see whether you can find it.
ej h4 entry around resistance and fib 61.8
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ITB - Seeing Orderliness amongst 'Randomness'
  • #251
  • Apr 14, 2020 1:32am Apr 14, 2020 1:32am
Hello everyone!
Easy scalp, +16p.
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  • #252
  • Edited 1:57am Apr 14, 2020 1:36am | Edited 1:57am
Quoting Unmotivated
hi @Seysin32, I have made another take on eurusd hourly chart. If I have drawn the chart correctly, it looks like a good SELL entry if there is a price signal at 0.786-0.750 range. What is your opinion? Thanks in advance. {image}
I agree, or the signal at 1.000, let's see.
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  • #253
  • Apr 14, 2020 2:54am Apr 14, 2020 2:54am
Quoting Inthebox
{quote} so the expected happened. the trade gave 25 pips gain before price went up. i am still in the trade. i do not use hard stop loss. use it only when i am asleep. i only exit a trade by looking at the candle at a resistance level. this is a personal preference. {image}
closed with loss. strong upward momentum.
ITB - Seeing Orderliness amongst 'Randomness'
  • #254
  • Apr 14, 2020 3:14am Apr 14, 2020 3:14am
ej m15 setup
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ITB - Seeing Orderliness amongst 'Randomness'
  • #255
  • Apr 14, 2020 3:32am Apr 14, 2020 3:32am
Good Insight to a significant tool.Thanks
  • #256
  • Edited 5:39am Apr 14, 2020 4:46am | Edited 5:39am
Example of FСP in the case of a horizontal channel (continued movement).
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  • #257
  • Apr 14, 2020 5:34am Apr 14, 2020 5:34am
EURUSD m1
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  • #258
  • Apr 14, 2020 5:50am Apr 14, 2020 5:50am
Hi @Seysin32,

I have redrawn eur/usd using m30 chart.
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Knowing is not enough, we must apply. Willing is not enough, we must do.
  • #259
  • Apr 14, 2020 5:56am Apr 14, 2020 5:56am
TP2 reached:
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  • #260
  • Apr 14, 2020 6:03am Apr 14, 2020 6:03am
Quoting Unmotivated
Hi @Seysin32, I have redrawn eur/usd using m30 chart. {image}
Your TL is incorrectly built, compare with my chart.
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