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

  • #521
  • Apr 22, 2020 4:30am Apr 22, 2020 4:30am
Simple deal + 20p.
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  • #522
  • Apr 22, 2020 6:00am Apr 22, 2020 6:00am
Quoting Seysin32
Simple deal + 20p. {image} {image}

Seysin,

Do you always wait for the candle close of the price rollback/retest to 1.000 line and/or to 0.786/0.750 line?

I have GBPNZD and GBPUSD on 15 Minute. Can you kindly check if these rollback/retest are good entry point?

Thank you.
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  • #523
  • Apr 22, 2020 6:22am Apr 22, 2020 6:22am
Quoting GPipz
{quote} Seysin, Do you always wait for the candle close of the price rollback/retest to 1.000 line and/or to 0.786/0.750 line? I have GBPNZD and GBPUSD on 15 Minute. Can you kindly check if these rollback/retest are good entry point? Thank you. {image} {image}
On both charts, everything is correct. I always wait for the candle to close, it is desirable that the candle touches the level or slightly breaks through it, and then closes in the opposite direction (or next candle).
  • #524
  • Apr 22, 2020 7:30am Apr 22, 2020 7:30am
Quoting Seysin32
{quote} I mentioned that I entered on m5, and I took the target from H1. Look at the chart m5, there everything is the same what we are talking about: {image} See how beautifully the price reacted to our TP level : {image}
Thanks Bro, understood
  • #525
  • Edited 8:54am Apr 22, 2020 7:32am | Edited 8:54am
Quoting Seysin32
{quote} On both charts, everything is correct. I always wait for the candle to close, it is desirable that the candle touches the level or slightly breaks through it, and then closes in the opposite direction (or next candle).

Thanks, Seysin.

Now it's clear.

I checked this EURUSD 5 Minute and saw this retest on 1.000 line. The entry point will be at the close of this candle, right?
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  • #526
  • Apr 22, 2020 7:47am Apr 22, 2020 7:47am
Quoting GPipz
{quote} Thanks, Seysin. Now it's clear. I checked this EURUSD 15 Minute and saw this retest on 1.000 line. The entry point will be at the close of this candle, right? {image}
Absolutely right.
  • #527
  • Apr 22, 2020 8:25am Apr 22, 2020 8:25am
https://www.tradingview.com/x/BR6sScdC/

Good times
  • #528
  • Edited 10:35am Apr 22, 2020 10:21am | Edited 10:35am
Quoting Inthebox
let's see {image}
gj result
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ITB - Seeing Orderliness amongst 'Randomness'
  • #529
  • Apr 22, 2020 12:42pm Apr 22, 2020 12:42pm
Quoting Seysin32
Simple scalp (entrance to m5): {image}
How do you base where you place the 0 and 100 fib levels?
  • #530
  • Apr 22, 2020 2:22pm Apr 22, 2020 2:22pm
Hello Gold,

Correct me if I'm wrong on this.

1 Hour and 15 Minute Chart.

Cheers.
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  • #531
  • Apr 22, 2020 2:42pm Apr 22, 2020 2:42pm
Quoting GPipz
Hello Gold, Correct me if I'm wrong on this. 1 Hour and 15 Minute Chart. Cheers. {image} {image}
I think, drawing a channel is not the first thing, you need a Trendline first, when price breaks the line, the you create your channel.

I advice you go read post 1.
Begin with the end in mind
  • #532
  • Apr 22, 2020 2:54pm Apr 22, 2020 2:54pm
Quoting Luttlebird
{quote} I think, drawing a channel is not the first thing, you need a Trendline first, when price breaks the line, the you create your channel. I advice you go read post 1.
Yep. I agree with you.
  • #533
  • Apr 22, 2020 8:42pm Apr 22, 2020 8:42pm
Quoting GPipz
Hello Gold, Correct me if I'm wrong on this. 1 Hour and 15 Minute Chart. Cheers. {image} {image}
compare the h1 chart.
if you are using retracement for entry, go to m5 at the point of yellow dotted vertical line.
in m5 you use the same fcp method to refine your entry.
so your fcp has to be downward sloping, not an upward one.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #534
  • Apr 22, 2020 9:58pm Apr 22, 2020 9:58pm
In all honesty, this is a load of hogwash. You are trading a trend line break using fibonacci to manage your money, it's not a strategy, it's a money management system.
  • #535
  • Apr 22, 2020 10:45pm Apr 22, 2020 10:45pm
Hi Seysin32. Thank you for your effort and sharing. Your video helps a lot.
I have tried to enter the live trading.

Do u think I get your idea?
Thanks and good pips.
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Liberate Hong Kong, The Revolution Of Our Times
  • #536
  • Apr 22, 2020 10:55pm Apr 22, 2020 10:55pm
Quoting xRedStaRx
In all honesty, this is a load of hogwash. You are trading a trend line break using fibonacci to manage your money, it's not a strategy, it's a money management system.
i assumed that you have read post 1 because this is the least basic thing to do before you start to make a comment in a thread.

from post 1.
"The FCP system is based on a graphic display of the psychology of market participants, expressed in the interaction of prices with TL and Fibonacci levels. At the heart of FCP is the idea that the price, breaking out of a diagonal/horizontal channel or triangle, travels a distance equal to the projection of the FIBO levels on the channel width. We will start with the FIBO projection from the diagonal channel, built from the trend line, since this is the basis."

you mean the above mention of using trend line is not clear enough in post 1?

using trend line break in higher time frame and upon retracement, using trend line break again in lower time frame is not a strategy by itself?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #537
  • Apr 22, 2020 10:58pm Apr 22, 2020 10:58pm
Quoting Inthebox
you mean the above mention of using trend line is not clear enough in post 1? using trend line break in higher time frame and upon retracement, using trend line break again in lower time frame is not a strategy by itself? {image}
That's exactly what I mean.
  • #538
  • Apr 22, 2020 11:07pm Apr 22, 2020 11:07pm
Quoting xRedStaRx
{quote} That's exactly what I mean.
so now you have come to agree that
1. mention of trend line break is very clear in post 1.
2. trend line break in both higher and lower time frame is by itself a strategy.

therefore going forward, kindly refrain from using such strong wordings as "a load of hogwash".
ITB - Seeing Orderliness amongst 'Randomness'
  • #539
  • Apr 22, 2020 11:20pm Apr 22, 2020 11:20pm
what a beauty
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ITB - Seeing Orderliness amongst 'Randomness'
  • #540
  • Apr 22, 2020 11:49pm Apr 22, 2020 11:49pm
Hello everyone!
Quoting xRedStaRx
In all honesty, this is a load of hogwash. You are trading a trend line break using fibonacci to manage your money, it's not a strategy, it's a money management system.
ha-ha-ha!!! exactly!
Thank you, respected. You have relieved me of the need to answer your previous question.
Do me a favor, if you are not interested in FСP, don’t write here anymore, please.
Do not be discouraged, continue to study, then maybe someday, you will do something useful for the forex community.
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