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

Many thanks for opening thread and usefull discussion. I wish all the best and good result using this method.

To trade channel is new for me and I have to exercise a little bit.

I will have a look for USDSEK long, daily, lets see what market is doing next days.
Critical comments are welcome.
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Quoting Isabella_D
Many thanks for opening thread and usefull discussion. I wish all the best and good result using this method. To trade channel is new for me and I have to exercise a little bit. I will have a look for USDSEK long, daily, lets see what market is doing next days. Critical comments are welcome. {image}
I think the channel is not correct.
Due to the following note from post #1.
On the example of uptrend.
Find the last Highest Low (or bottom preceding the last maximum peak). Draw a beam from this point to the left. ....
...........
Quoting dorood
{quote} I think the channel is not correct. Due to the following note from post #1. On the example of uptrend. Find the last Highest Low (or bottom preceding the last maximum peak). Draw a beam from this point to the left. .... ...........
thx for attention, dorood. My expectation is to go long if conditions meet (broke chanel higher 3).
Am i drawing like this?
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Quoting chrisjia
Am i drawing like this? {image}
i guess it's alright with point 3 at fcp mid line after point 1.

but i would like to ask seysin comparing the 2 charts which one he prefers.
the notion is from post 14. point 3 at fcp outer line after point 1.
my reasons are:
1. point 3 is the lowest low.
2. there are 2 price touches reactions at the fcp quartile line.
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ITB - Seeking Orderliness amongst 'Randomness'
Quoting chrisjia
Am i drawing like this? {image}
Same as what I have. Your candle color though may confuse you later. Should be green for bullish, red for bearish.
Quoting GPipz
{quote} Same as what I have. Your candle color though may confuse you later. Should be green for bullish, red for bearish.
i think he is used to the color.
there are other parts of the world doing so.
ITB - Seeking Orderliness amongst 'Randomness'
Hello, friends!
This is just my opinion, you should work yours head.
1. Context.
Where are we. You see on chart#1 that we are inside a big movement "А". Аll subsequent swings are decreasing. This means that channel projections are also decreasing. Conclusion - we make small projections with small TP. Before the price breaks the figure, it can go out and come back. Until the figure is broken and we receive confirmation of this, be careful.
2. The build of the channel.
So, we have 2 options for the 3rd point. Why do I choose chart#2:
a) On chart#4 (the 3rd point on the midline) we see, that the price ignore trigger line#2. On chart#3 (the 3rd point is on the outer side of the channel) we see, how the price reacts to trigger#2 (and to other projection lines quite accurately). Also, as Inthebox said, in this case, the price takes into consideration the internal lines of the channel.
b) Continuous movement from point 2 is interrupted by a small rollback. This is not critical and in another case we can ignore it, but here it is in favor of chart#2. And as we can see, this also coincides with the outer side of the channel.
3. Action plan.
Considering what was said in paragraph 1, and the fact that we have a narrow channel with a small projection. It’s also that MA lines diverge and while we are on the sales side. In the case of receiving a long setup on m5, I will enter with a small SL and with TP in the area of the upper MA line.
4. I am not a supporter of catching turns at the most extreme point. I will enter later, when I see confirmation. In doing so, I will earn less. But, I don’t need much, even 15-20 points will be enough for me.
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Quoting Isabella_D
Many thanks for opening thread and usefull discussion. I wish all the best and good result using this method. To trade channel is new for me and I have to exercise a little bit. I will have a look for USDSEK long, daily, lets see what market is doing next days. Critical comments are welcome. {image}
Hello Isabella and welcome!
I am not sure that I have the right quotes, my candles look different. However, I would build the channel and projection as on my chart. You need to wait for the development of the model and confirmation signals. If your trading style allows, go down to H4 or H1, there are more trading opportunities for training in FСP.
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... You need to wait for the development of the model and confirmation signals. If your trading style allows, go down to H4 or H1, there are more trading opportunities for training in FСP. ..

A pleasant tone that you maintain here @Seysin.
On monday / tuesday i will have time to try out current market time frames as you suggested. I prefer M30-W1, so a actually search should be worthwhile in the next week. Let's see if I can do the technical craft in the chart.

Your channels have 5 lines. Would you also accept 3 lines, especially in higher tf? Or does this view destroy your concept.
you see: I am a thankless lazybones.
  • Post #431
  • Quote
  • Edited 10:51am Apr 19, 2020 10:29am | Edited 10:51am
[quote = Inthebox; 12885491] {quote}我想第3点在第1点之后的fcp中线就可以了，但是我想问seysin比较他喜欢的2张图表。这个想法来自第14篇。点1之后的fcp外线的点3。我的原因是：1.点3是最低的最低点。2.在fcp四分位数线上有2个价格触动反应。{image} [/ quote]
Thanks!
[quote = Seysin32; 12885635] {quote}您好，伊莎贝拉，欢迎您！我不确定引号是否正确，蜡烛的外观是否有所不同。但是，我将像图表一样构建渠道和预测。您需要等待模型和确认信号的开发。如果您的交易方式允许，请降低至H4或H1，则有更多交易机会接受FСP培训。{image} [/ quote]
Many thanks for opening thread and usefull discussion. I wish all the best and good result using this method.
Quoting Isabella_D
... Your channels have 5 lines. Would you also accept 3 lines, especially in higher tf? Or does this view destroy your concept. you see: I am a thankless lazybones.
Everything is fine. I think, that maybe 3 lines. The midline and channel width are important. You may try. I am not a big specialist in htf.
Quoting Inthebox
{quote} i guess it's alright with point 3 at fcp mid line after point 1. but i would like to ask seysin comparing the 2 charts which one he prefers. the notion is from post 14. point 3 at fcp outer line after point 1. my reasons are: 1. point 3 is the lowest low. 2. there are 2 price touches reactions at the fcp quartile line. {image}
I am a newb so I may have missed something, although I have been doing my studies as instructed.

When I look at the EURUSD 1hr chart and 30 min chart, I see multiple trades setting up, day after day.

I have attached a file (another new task) with my chart. Can you give me any feedback?

Thanks

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Quoting EznAtx
{quote} I am a newb so I may have missed something, although I have been doing my studies as instructed. When I look at the EURUSD 1hr chart and 30 min chart, I see multiple trades setting up, day after day. I have attached a file (another new task) with my chart. Can you give me any feedback? Thanks {image}
if you use m30 as your main chart, also look at 2 time frames above and below it to get better informed.
the 1st fcp on the left was too steep, m15 provided more information.
your fib 100 was placed wrongly.
compare.
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ITB - Seeking Orderliness amongst 'Randomness'
Hi all.
Gold today.
Have all nice and successful week.
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Hello, friends!
USD/CAD
SELL 4075, SL 4125, TP1 4050, TP2 4030.
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Quoting kvak
Hi all. Gold today. Have all nice and successful week. {image}
TP2 hit
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Quoting kvak
{quote} TP2 hit {image}
well done, buddy
gn m5 sell
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ITB - Seeking Orderliness amongst 'Randomness'
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