Hello, friends. I hope all of you are well.
As I noticed, many have difficulty in defining the 3rd point in the examples, that we analyzed and they looked "not according to the rules." Let’s clarify this question. There is nothing complicated about it. Consider the example of the uptrend. When you built the channel, look at the left side of the chart behind the outside of the channel. What did the price do before it hit the channel? Did she fall or go up in the direction of your channel (trend)? If the swings rise up, you can expand the channel so that one of the top appears on the midline. And that’s all. You may ask - we get a wider projection, will it work? The answer is yes, if you get confirmation at the price of Fibo levels before the breakdown of the channel and confirmation at the price of Trigger levels 1 and 2 (especially 2). In addition, when choosing the channel width, consider that you are building a projection on the trend, or on its correction (see htf). I picked up a few examples so that you understand how it looks.
By the way, someone said about throwing a coin. This is a very good example. I wrote earlier that my approach to trading is similar to the principle of a casino. This is not the same as throwing a coin. At the casino there is an advantage (I'm talking about roulette) - this is zero. So the odds are 49/50, or so. But this 1% gives the casino billions of dollars. The question is the number of deals. Build your advantage on your system and use it. I am sure that we all have it and it is much more than 1%. It remains to do the same thing. There will always be those who did not bother to study and try, and those who did. The difference between them becomes visible only with time. The first will simply disappear, and you will live. The FCP system itself does not give you a big advantage, it’s just a template, fill it with what you better own, and it will work like a good watch.
Good luck friends.
As I noticed, many have difficulty in defining the 3rd point in the examples, that we analyzed and they looked "not according to the rules." Let’s clarify this question. There is nothing complicated about it. Consider the example of the uptrend. When you built the channel, look at the left side of the chart behind the outside of the channel. What did the price do before it hit the channel? Did she fall or go up in the direction of your channel (trend)? If the swings rise up, you can expand the channel so that one of the top appears on the midline. And that’s all. You may ask - we get a wider projection, will it work? The answer is yes, if you get confirmation at the price of Fibo levels before the breakdown of the channel and confirmation at the price of Trigger levels 1 and 2 (especially 2). In addition, when choosing the channel width, consider that you are building a projection on the trend, or on its correction (see htf). I picked up a few examples so that you understand how it looks.
By the way, someone said about throwing a coin. This is a very good example. I wrote earlier that my approach to trading is similar to the principle of a casino. This is not the same as throwing a coin. At the casino there is an advantage (I'm talking about roulette) - this is zero. So the odds are 49/50, or so. But this 1% gives the casino billions of dollars. The question is the number of deals. Build your advantage on your system and use it. I am sure that we all have it and it is much more than 1%. It remains to do the same thing. There will always be those who did not bother to study and try, and those who did. The difference between them becomes visible only with time. The first will simply disappear, and you will live. The FCP system itself does not give you a big advantage, it’s just a template, fill it with what you better own, and it will work like a good watch.
Good luck friends.
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