The Fibonacci channel projections (FCP) | Page 37 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fibonacci Time Projections 9 replies

Difference between Fibonacci extensions, projections and expansions? 5 replies

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

Mastering False breaks, trendline and fibonacci projections 57 replies

Fibonacci Projections 8 replies

Attachments: The Fibonacci channel projections (FCP)
Exit Attachments

The Fibonacci channel projections (FCP)

  • #721
  • Apr 29, 2020 3:49am Apr 29, 2020 3:49am
Quoting vitall
Can you post your chart to clear it up, please?
i shifted the channel to the right.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #722
  • Apr 29, 2020 4:02am Apr 29, 2020 4:02am
Quoting Inthebox
{quote} i shifted the channel to the right. {image}
Did you sell on TL breakout?
  • #723
  • Apr 29, 2020 4:10am Apr 29, 2020 4:10am
Quoting vitall
{quote} Did you sell on TL breakout?
yes but it's my style.
here the thread is entry upon retrace to fib 100 or 78.2/75.
if see m1 it's a retrace to fib 100.
ITB - Seeing Orderliness amongst 'Randomness'
  • #724
  • Apr 29, 2020 4:26am Apr 29, 2020 4:26am
Quoting Inthebox
{quote} yes but it's my style. here the thread is entry upon retrace to fib 100 or 78.2/75. if see m1 it's a retrace to fib 100.
I'am doing the same way like you- enter with 1/2 lot on breakout, and then add position on retrace.It works so far
  • #725
  • Apr 29, 2020 6:07am Apr 29, 2020 6:07am
Hello, first of all I want to thank you for sharing the knowledge and effort Seysin.

I've started reading the thread (I'm around half-way), was practising and I've got some doubts that the rules don't make clear to me to build the channel, perhaps is because english is not my native language or because I didn't finish the thread, if is the second case I apologize.

When a impulse is not too "energic" from 1, you place the 3 in the center of the channel, but this does not happen everytime; for example when the swing from 1 is not too big, then you make 3 in another point and not the max/min of the swing from 1, like here (post 32):
https://www.forexfactory.com/attachm...6&d=1585936486
Is my guess about right?

Also, I know you can build 3 from 1 or 2 with a big impulse and 3 will be on the other side of the channel, but is it possible to build a not too big impulse from 2 to the center of the channel and make it 3 like you do when the impulse goes from 1 to 3? (See picture as example I edited)
Attached Image

Hope is not too confusing! Thanks
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #726
  • Apr 29, 2020 7:08am Apr 29, 2020 7:08am
Quoting PedroIV
Also, I know you can build 3 from 1 or 2 with a big impulse and 3 will be on the other side of the channel, but is it possible to build a not too big impulse from 2 to the center of the channel and make it 3 like you do when the impulse goes from 1 to 3? (See picture as example I edited) {image} Hope is not too confusing! Thanks
seysin stated yesterday that he had completed all he has to show in this thread and he will rarely be here.
if we read carefully his posts the answer should be there. so maybe we have to read them multiple times.

my opinion concerning point 3 from 1 or 2.
in your chart, point 1 to 3 is straighter and have less retrace than point 2 to 3. so point 1 to 3 is to be used.
you have placed the channel mid line on point 3. this is correct.
if you find that the channel width is too wide, place the channel outer line on point 3 to make channel narrower.
if you find that the channel width is too narrow, place the channel 25% line on point 3 to make channel wider.
https://www.forexfactory.com/showthr...6#post12884346
so the channel is adjustable to cater for your target expectation.
a good channel is built when price reacts to as many channel lines as possible.
ITB - Seeing Orderliness amongst 'Randomness'
  • #727
  • Apr 29, 2020 7:23am Apr 29, 2020 7:23am
Quoting Inthebox
{quote} seysin stated yesterday that he had completed all he has to show in this thread and he will rarely be here. if we read carefully his posts the answer should be there. so maybe we have to read them multiple times. my opinion concerning point 3 from 1 or 2. in your chart, point 1 to 3 is straighter and have less retrace than point 2 to 3. so point 1 to 3 is to be used. you have placed the channel mid line on point 3. this is correct. if you find that the channel width is too wide, place the channel outer line on point 3 to make channel narrower....
Thanks a lot for your answer, it makes sense!
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #728
  • Apr 29, 2020 8:17am Apr 29, 2020 8:17am
from post 1.
FCP disadvantages:
- Requires some trading experience, not suitable for absolute beginners.
- MT4 is not the best software for graphical constructions.
- You can not immediately take and use.

i know that there are many novices looking at this thread.
i understand that it would be difficult to follow if you do not have 1-2 years of trading experience.
i would advise to try it a couple of times to see whether it suits your style of trading.
if it does not suit beginners, i would advise to go for more simple thread like "roadmap" which uses moving averages to trade.
ITB - Seeing Orderliness amongst 'Randomness'
  • #729
  • Apr 29, 2020 9:19am Apr 29, 2020 9:19am
ea m15
retraced to asia high for double top.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 16 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #730
  • Apr 29, 2020 9:22am Apr 29, 2020 9:22am
Hi Sey,

Thank you for sharing your knowledge!
Can I translate your work into Vietnamese and post it in a group from Vn? I will give the full citation.
Thank you.
  • #731
  • Edited Apr 30, 2020 1:07am Apr 29, 2020 11:57pm | Edited Apr 30, 2020 1:07am
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDM5.png Size: 20 KB

edit: trend line shifted
ITB - Seeing Orderliness amongst 'Randomness'
  • #732
  • Apr 30, 2020 2:05am Apr 30, 2020 2:05am
h1 shows strong retrace but at resistance zone.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH1.png Size: 19 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #733
  • Apr 30, 2020 3:09am Apr 30, 2020 3:09am
Missed TP2 by a tiny bit =) EURGBP

Set up
Attached Image (click to enlarge)
Click to Enlarge Name: One.png Size: 23 KB

Attached Image (click to enlarge)
Click to Enlarge Name: two.png Size: 26 KB


Outcome (in my opinion wasn't a very good set up or I did something wrong)
Attached Image (click to enlarge)
Click to Enlarge Name: three.png Size: 37 KB
  • #734
  • Apr 30, 2020 3:28am Apr 30, 2020 3:28am
Quoting taksistalo
Outcome (in my opinion wasn't a very good set up or I did something wrong) {image}
price gone back to previous ranging zone.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 20 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #735
  • Apr 30, 2020 4:33am Apr 30, 2020 4:33am
we need for MT5 Please
  • #736
  • Apr 30, 2020 5:17am Apr 30, 2020 5:17am
Quoting Inthebox
h1 shows strong retrace but at resistance zone. {image}
en m15
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 20 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #737
  • Apr 30, 2020 5:32am Apr 30, 2020 5:32am
Quoting Alrazeen
we need for MT5 Please
what do you need exactly? fibonacci channel?
ITB - Seeing Orderliness amongst 'Randomness'
  • #738
  • Apr 30, 2020 10:53am Apr 30, 2020 10:53am
Inthebox
What do you think about this one?
AUD/USD
Attached Image (click to enlarge)
Click to Enlarge Name: One.png Size: 36 KB

Attached Image (click to enlarge)
Click to Enlarge Name: two.png Size: 29 KB
  • #739
  • Edited 1:41pm Apr 30, 2020 12:51pm | Edited 1:41pm
Quoting taksistalo
Inthebox What do you think about this one? AUD/USD {image} {image}
my preferred trade.
h4 trend up --> buy.
m5 price retraced towards previous day low with intention to buy.
price reached previous day high.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image3.png Size: 29 KB
Click to Enlarge Name: Image1.png Size: 19 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #740
  • Apr 30, 2020 1:54pm Apr 30, 2020 1:54pm
Quoting Inthebox
{quote} my preferred trade. h4 trend up --> buy. m5 price retraced towards previous day low with intention to buy. price reached previous day high. {image} {image}
Thanks
Do you use any indicator for previous days high/lows? or you mark them manually?
Looks like pivots were close to those numbers as well.
1 trader viewing now