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The Fibonacci channel projections (FCP)

  • #741
  • Apr 30, 2020 5:58pm Apr 30, 2020 5:58pm
The trade went pretty well. Redraw my channel a bit like yours, but looks like it's all subjective, but I see what you mean. I think the trend might reverse from here, lets see.
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  • #742
  • Apr 30, 2020 8:14pm Apr 30, 2020 8:14pm
Another trade went well (was on my phone)
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  • #743
  • Apr 30, 2020 9:49pm Apr 30, 2020 9:49pm
Quoting taksistalo
{quote} 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.
yes i do.
open high low is important for intra day trading.
ITB - Seeing Orderliness amongst 'Randomness'
  • #744
  • Edited 10:29pm Apr 30, 2020 10:11pm | Edited 10:29pm
Quoting taksistalo
The trade went pretty well. Redraw my channel a bit like yours, but looks like it's all subjective, but I see what you mean. I think the trend might reverse from here, lets see. {image}
to mitigate the subjectivity, use fractal.
shift channel to the right when there is a higher low being formed.
ITB - Seeing Orderliness amongst 'Randomness'
  • #745
  • Apr 30, 2020 11:01pm Apr 30, 2020 11:01pm
Quoting Inthebox
{quote} to mitigate the subjectivity, use fractal. shift channel to the right when there is a higher low being formed.
hey "inthebox" . i have been trying this method but i am not getting an intutional sense of it. there are few questions if you would like to answer since "sye" is no longer addressing this thread.
1. since we are trading breakouts i am having trouble identifying them
2. how to tell that the breakout will be upwards or downward ? ( although i know the trendline will project project the direction but how to decide the direction . for eg. in 1 hour you see the the graph rising but in say 5m you see an upward trendline thus we are betting for it to breakdown lower.
3. when to enter a trade. as sye told that the graph will retest it but in many cases during breakdown the prices moves very fast ( in 1m or 3m ) thus you can never actually see the restest and the trade that was needed to go right goes wrong. and the winning percentage declines.
i will really apppreciate any help from anyone who uses this method.
thanks. ( i have read the thread but still read it again if anyone suggest a post that particularly answers my questions . )
  • #746
  • May 1, 2020 12:51am May 1, 2020 12:51am
Quoting jamesbond00
{quote} hey "inthebox" . i have been trying this method but i am not getting an intutional sense of it. there are few questions if you would like to answer since "sye" is no longer addressing this thread. 1. since we are trading breakouts i am having trouble identifying them 2. how to tell that the breakout will be upwards or downward ? ( although i know the trendline will project project the direction but how to decide the direction . for eg. in 1 hour you see the the graph rising but in say 5m you see an upward trendline thus we are betting for...
Coin tossing will be about as accurate as other methods.
Please excuse the bad English via Google Translate.
  • #747
  • May 1, 2020 1:02am May 1, 2020 1:02am
Quoting jamesbond00
{quote} hey "inthebox" . i have been trying this method but i am not getting an intutional sense of it. there are few questions if you would like to answer since "sye" is no longer addressing this thread.

1. since we are trading breakouts i am having trouble identifying them
if you are having problem with lower time frame, why not switch to higher time frame. switch your time frame one or two higher.
2. how to tell that the breakout will be upwards or downward ? ( although i know the trendline will project project the direction but how to decide the direction . for eg. in 1 hour you see the the graph rising but in say 5m you see an upward trendline thus we are betting for it to breakdown lower.
solely looking at h1 graph rising is not a basis to sell in m5. something is missing. h4 must be falling to reflect that h1 rising is a retracement.
my example in the chart using h4 as htf and m30 as ltf.
in simplified form, h4 is enough to show me the medium trend.
3. when to enter a trade. as sye told that the graph will retest it but in many cases during breakdown the prices moves very fast ( in 1m or 3m ) thus you can never actually see the restest and the trade that was needed to go right goes wrong. and the winning percentage declines
it's very chopping in m3 and m1 as the stop loss is very tight but that's your choice. if you find m15 is not so choppy then use it.
to get the best of both world, split into 2 positions - one for breakout, one for retrace.

do your own back testing. i believe that there are much more successful trades than failed one. and don't forget it also depends on your expectation how far the trade can move.
and also it will fail at the region when h4 begin to switch sides.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #748
  • May 1, 2020 1:08am May 1, 2020 1:08am
Quoting dokopy
{quote} Coin tossing will be about as accurate as other methods.
i am open to even try coin toss if that helps. all in all i am just asking a way to market in order to profit from them . i will be gladly take advice if there is some other options to try out . thanks for the reply but i will be greatful id you show some insights on right approach.
cheers
  • #749
  • May 1, 2020 1:22am May 1, 2020 1:22am
Quoting jamesbond00
{quote} i am open to even try coin toss if that helps. all in all i am just asking a way to market in order to profit from them . i will be gladly take advice if there is some other options to try out . thanks for the reply but i will be greatful id you show some insights on right approach. cheers
Coin toss is 50/50, forex spread makes it worse. Lots of indicators = lots of coins.
Please excuse the bad English via Google Translate.
  • #750
  • May 1, 2020 1:45am May 1, 2020 1:45am
i am not trading this pair.
let's see what is like for the strongest pair rising more than 400 pips with no retrace encountering a resistance zone.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #751
  • May 1, 2020 3:39am May 1, 2020 3:39am
@Inthebox is this system your main one now or are you just giving it a shot?
  • #752
  • Edited 6:26am May 1, 2020 3:48am | Edited 6:26am
Quoting nozzer
@Inthebox is this system your main one now or are you just giving it a shot?
in my experience i have gathered 7 indications for trading in post 1 of my journal.
the more indications the better.
in this thread, we have trend, channel break, fibonacci and oscillator for divergence.
so it's not a problem for me.

i am around to tighten up the loose end just in case some one needs clarification.
if the participation has gone down, i too will leave this thread as probably most questions posed would have been answered.
just need reading again and again.
ITB - Seeing Orderliness amongst 'Randomness'
  • #753
  • May 1, 2020 4:06am May 1, 2020 4:06am
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ITB - Seeing Orderliness amongst 'Randomness'
  • #754
  • May 1, 2020 5:20am May 1, 2020 5:20am
Quoting Inthebox
{image}
Hi.
I have open one sell on GJ. Let see...
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  • #755
  • May 1, 2020 5:28am May 1, 2020 5:28am
Quoting kvak
{quote} Hi. I have open one sell on GJ. Let see... {image}
careful put to BE as m15 higher low is forming. looking for signal to buy.
ITB - Seeing Orderliness amongst 'Randomness'
  • #756
  • May 1, 2020 5:48am May 1, 2020 5:48am
stopped out

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  • #757
  • May 1, 2020 5:56am May 1, 2020 5:56am
Quoting cural
stopped out {image}
higher time frame d1 down
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ITB - Seeing Orderliness amongst 'Randomness'
  • #758
  • May 1, 2020 7:06am May 1, 2020 7:06am
TP reached
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  • #759
  • May 1, 2020 7:53am May 1, 2020 7:53am
@Inthebox, I've made a pdf of all the information about FCP. I have a question. When I found a enough indications for a trade on the 1h, I wait for the price to roll back to the trigger point. My question:

Do I need to stay on the h1 to see the the candle close or is it also possible to switch to the m15 for a closer look and take the trade when a m15 candle close?
You'll get what you give.
  • #760
  • May 1, 2020 9:05am May 1, 2020 9:05am
Lets see how this one goes.
Looks to be promising.
TP2 lays around previous day highs.

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