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The Fibonacci channel projections (FCP)

  • #561
  • Apr 23, 2020 4:59am Apr 23, 2020 4:59am
Quoting Devilhunter
{quote} Can you share the MACD Osma indi you are using as I cant find it and mt4 macd is quite ugly
Credit to IntheBox
Attached File(s)
File Type: ex4 MACD_OsMA_4ColorH_2LVar_mtf alerts nmc.ex4   32 KB | 407 downloads
Liberate Hong Kong, The Revolution Of Our Times
  • #562
  • Apr 23, 2020 5:03am Apr 23, 2020 5:03am
Quoting Inthebox
{quote} 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".
You must have misunderstood. I don't think trendlines are reliable, let alone a strategy by themselves.
  • #563
  • Apr 23, 2020 5:14am Apr 23, 2020 5:14am
Hi All

Step one of identifying a sell setup. Never mind the outcome, i understand there are other metrics to look for before entry. wana know if im on the right path.

Your input is highly appreciated.

Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD23.JPG Size: 60 KB
You can do it!
  • #564
  • Apr 23, 2020 5:29am Apr 23, 2020 5:29am
Quoting Seysin32
TP1 reached. You can expect to continue. {image} Wider view: {image}
And here is the continuation :
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5 1.JPG Size: 283 KB
  • #565
  • Apr 23, 2020 5:33am Apr 23, 2020 5:33am
Quoting cpwtrade
It's me again. Actually, I notice that the TL can be drawn for more than one opportunity in the same chart. Chart 1 is what I am in now. Chart 2 is what I find another opportunity in the same chart. Can I say that if the FCP is created correctly, then normally I can just focus on this FCP and ignore the other possible FCP? {image} {image}
As you can see, on your 2 chart you get a more accurate entry at the best price.
  • #566
  • Apr 23, 2020 5:38am Apr 23, 2020 5:38am
Quoting Kampion
Hi All Step one of identifying a sell setup. Never mind the outcome, i understand there are other metrics to look for before entry. wana know if im on the right path. Your input is highly appreciated. 3614534 {image}
Hello. Your chart is difficult to comment, please show the maximum possible information.
  • #567
  • Apr 23, 2020 6:04am Apr 23, 2020 6:04am
Quoting xRedStaRx
{quote} You must have misunderstood. I don't think trendlines are reliable, let alone a strategy by themselves.
i understand.
it's a matter of opinion. nothing more nothing less.
it's only your personal experience that your own method of application of trend lines failed you previously, leading you to form the opinion that trend lines are unreliable.
however, it's otherwise for me, strategy using trend lines as part of the arsenal is a successful one.

with due respect to seysin, my conversation with you ends here as we agree to disagree on this subject matter.
ITB - Seeing Orderliness amongst 'Randomness'
  • #568
  • Apr 23, 2020 6:27am Apr 23, 2020 6:27am
en higher time frame tells me to sell.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 34 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #569
  • Apr 23, 2020 7:23am Apr 23, 2020 7:23am
Quoting Kampion
Hi All Step one of identifying a sell setup. Never mind the outcome, i understand there are other metrics to look for before entry. wana know if im on the right path. Your input is highly appreciated. 3614534 {image}
Hi SeySin32

New Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD23.JPG Size: 145 KB
You can do it!
  • #570
  • Apr 23, 2020 8:06am Apr 23, 2020 8:06am
Quoting Kampion
{quote} Hi SeySin32 New Chart. {image}
Hello, friend.
1. The channel is built incorrectly (description and examples in post 1).
2. See chart H1 with my comments.
3. See chart m15 with channel build and projection.
3. Check the m5 chart with the entry point and goals.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1 1.JPG Size: 105 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m15.JPG Size: 124 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5 2.JPG Size: 145 KB
  • #571
  • Apr 23, 2020 8:26am Apr 23, 2020 8:26am
Quoting Kampion
{quote} Hi SeySin32 New Chart. {image}
my explanation if i may add, is that your sell is a counter trend to higher time frame.
for counter trend is more risky, the fcp width has to be adjusted smaller.
however it is better to trade with the higher time frame trend
the h1 (with explanation) fcp and m15 fcp are shown with buy at yellow arrow onward.
trading smaller time frame by itself alone has not enough information to see the whole picture in context.
Attached Image (click to enlarge)
Click to Enlarge Name: Image3.png Size: 38 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #572
  • Apr 23, 2020 9:18am Apr 23, 2020 9:18am
USDCHF 15 Minute

Let's see if we can make profit out of this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 52 KB
  • #573
  • Apr 23, 2020 9:47am Apr 23, 2020 9:47am
Fresh example:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5 3.JPG Size: 167 KB
  • #574
  • Apr 23, 2020 9:52am Apr 23, 2020 9:52am
Quoting GPipz
USDCHF 15 Minute Let's see if we can make profit out of this. {image}
I slightly adjusted your chart
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB
  • #575
  • Apr 23, 2020 10:28am Apr 23, 2020 10:28am
EU m15

is it right Seysin32 ?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 93 KB
  • #576
  • Apr 23, 2020 10:29am Apr 23, 2020 10:29am
Quoting Seysin32
Fresh example: {image}
Hi Seysin,

if this trade made by me, i will enter the trade much faster than you either during the pullback to 1.000 or after reaching 0.786 after pulling back to 1.000, i dunno what make you patiently wait that small pinbar that retrace to 0.786 line? i would think that train is long gone after its leaving the 0.786
  • #577
  • Apr 23, 2020 10:43am Apr 23, 2020 10:43am
Dear Seysin an InTheBox,

when we make the channel after a breakout, when the price than after few candles, pullback to the channel with some of the candle body I know that mean the channel is cancelled. What about the candle wick that entering back to the channel, should we simply reposition the Fibo line only or this is also cancelling the channel?
  • #578
  • Apr 23, 2020 10:44am Apr 23, 2020 10:44am
Quoting GoldBean
{quote} Hi Seysin, if this trade made by me, i will enter the trade much faster than you either during the pullback to 1.000 or after reaching 0.786 after pulling back to 1.000, i dunno what make you patiently wait that small pinbar that retrace to 0.786 line? i would think that train is long gone after its leaving the 0.786
1.000 is a very weak level until it is confirmed. But often, when a signal candle appears, the price is already leaving too far from 1.000.
Then I wait for a pullback to 0.786-0.750 and enter there. This is more reliable.
+40p for one deal is enough for me
  • #579
  • Apr 23, 2020 10:53am Apr 23, 2020 10:53am
Quoting GoldBean
Dear Seysin an InTheBox, when we make the channel after a breakout, when the price than after few candles, pullback to the channel with some of the candle body I know that mean the channel is cancelled. What about the candle wick that entering back to the channel, should we simply reposition the Fibo line only or this is also cancelling the channel?
i think it's better you show a chart on this.
sometimes when candle enter back to fcp, especially for short period of time, it does not mean that fcp need to be adjusted.
the original and adjusted fcp can be compared at the point of a followed up breakout point.
time and the depth of retrace play an important part.
ITB - Seeing Orderliness amongst 'Randomness'
  • #580
  • Apr 23, 2020 10:54am Apr 23, 2020 10:54am
Quoting GoldBean
Dear Seysin an InTheBox, when we make the channel after a breakout, when the price than after few candles, pullback to the channel with some of the candle body I know that mean the channel is cancelled. What about the candle wick that entering back to the channel, should we simply reposition the Fibo line only or this is also cancelling the channel?
If the price returned to the channel, but did not make a new min/max, the channel is not rebuilt. Maybe it will look like a few candles on the TL, back and forth. We transfer the Fibo lines only at the intersection of the TL and the candle body (not the shadow), when the candle again leaves the channel, but does not make a new min/max before that. Maybe later I will find you an example chart.
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