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The Fibonacci channel projections (FCP)

  • #321
  • Apr 16, 2020 2:32am Apr 16, 2020 2:32am
Hello Seysin.
Nice thread you have opened here. Basically just price action and psychology. I have only read half the pages and I'm trying to learn how to draw the correct lines. Does this one make sense? 1st target has been reached and stop would be at b/e by now. I did take that trade live (on demo) but after that strong retracement, I decided to get out with a few pips, also because I didn't want to leave it open overnight. Big mistake! I suppose patience is the key...
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  • #322
  • Apr 16, 2020 2:33am Apr 16, 2020 2:33am
Quoting DonPitt
eurusd H1... another entry at 78.5 - 75.0 cue..... {image}
It looks different for me ... compare the build of the channel:
Attached Image (click to enlarge)
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  • #323
  • Apr 16, 2020 2:42am Apr 16, 2020 2:42am
Attached Image (click to enlarge)
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en m5 set up a bit late
ITB - Seeing Orderliness amongst 'Randomness'
  • #324
  • Apr 16, 2020 2:43am Apr 16, 2020 2:43am
Quoting Hammertop
Hello Seysin. Nice thread you have opened here. Basically just price action and psychology. I have only read half the pages and I'm trying to learn how to draw the correct lines. Does this one make sense? 1st target has been reached and stop would be at b/e by now. I did take that trade live (on demo) but after that strong retracement, I decided to get out with a few pips, also because I didn't want to leave it open overnight. Big mistake! I suppose patience is the key... {image}
Hello and welcome.
I showed on your chart the TL. You can see the second option on my chart.
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Attached Image (click to enlarge)
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  • #325
  • Apr 16, 2020 2:50am Apr 16, 2020 2:50am
{quote} Hope you opened, the signals were obvious.[/quote]

Totally did....looking good...it works like magic..I had other trades in lower time frames in other pairs but trying to stay away from m1 and m5 for now until I perfect the system. Thanks once again for sharing..cheers..
  • #326
  • Apr 16, 2020 2:57am Apr 16, 2020 2:57am
Quoting Inthebox
{image} en m5 set up a bit late
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  • #327
  • Apr 16, 2020 3:03am Apr 16, 2020 3:03am
Hi Bro Seysin32.

I'm new on this thread.

Could you please help to give me more understanding about this trade?
Is this correct setup?
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  • #328
  • Apr 16, 2020 3:10am Apr 16, 2020 3:10am
Quoting Seysin32
{quote} {image}
can you please show the location of point 3 because the width of fcp is affected.
ITB - Seeing Orderliness amongst 'Randomness'
  • #329
  • Apr 16, 2020 3:19am Apr 16, 2020 3:19am
Quoting Inthebox
{quote} can you please show the location of point 3 because the width of fcp is affected.
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  • #330
  • Apr 16, 2020 3:27am Apr 16, 2020 3:27am
Quoting vinhbt
Hi Bro Seysin32. I'm new on this thread. Could you please help to give me more understanding about this trade? Is this correct setup? {image}
Hello and welcome!
The first and most important - is the correct build of TL.
See my chart. Do not rush and read post №1 again.
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  • #331
  • Apr 16, 2020 3:40am Apr 16, 2020 3:40am
Waiting patiently for price to break below the 78.6/75 level, then I'll take a sell to 38% level
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Begin with the end in mind
  • #332
  • Apr 16, 2020 3:52am Apr 16, 2020 3:52am
Hi all.
DAX M30
Action from level 75-78.6 I slept, too lazy to climb out of bed
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  • #333
  • Apr 16, 2020 3:55am Apr 16, 2020 3:55am
Quoting Luttlebird
Waiting patiently for price to break below the 78.6/75 level, then I'll take a sell to 38% level {image}
I built the FCP on the GBP/JPY for comparison. Keep in mind that the price has already worked out the basic levels of projection.
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  • #334
  • Apr 16, 2020 3:58am Apr 16, 2020 3:58am
Quoting kvak
Hi all. DAX M30 Action from level 75-78.6 I slept, too lazy to climb out of bed {image}
  • #335
  • Apr 16, 2020 4:09am Apr 16, 2020 4:09am
Quoting Seysin32
{quote} It looks different for me ... compare the build of the channel: {image}
You are right...I did not adjust the trend line after I initially drew it. Thanks
  • #336
  • Apr 16, 2020 4:13am Apr 16, 2020 4:13am
Waiting for this to develop (m5 just for learning purpose). I have readjusted the fib after breakout and reentry of the channel. I see higher support there. Any suggestion?
Attached Image (click to enlarge)
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  • #337
  • Apr 16, 2020 4:23am Apr 16, 2020 4:23am
Quoting Hammertop
Waiting for this to develop (m5 just for learning purpose). I have readjusted the fib after breakout and reentry of the channel. I see higher support there. Any suggestion? {image}
Hello.
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  • #338
  • Apr 16, 2020 4:30am Apr 16, 2020 4:30am
Quoting Seysin32
{quote} Hello. {image}
You're right, sorry. I realised after posting and corrected. Following up
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  • #339
  • Apr 16, 2020 4:31am Apr 16, 2020 4:31am
Quoting Hammertop
Waiting for this to develop (m5 just for learning purpose). I have readjusted the fib after breakout and reentry of the channel. I see higher support there. Any suggestion? {image}
points shifted
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #340
  • Apr 16, 2020 4:35am Apr 16, 2020 4:35am
Quoting Hammertop
{quote} You're right, sorry. I realised after posting and corrected. Following up {image}
Strong volumes on breakout. Should I wait for the price to retrace to level 1 to enter?
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