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The Fibonacci channel projections (FCP)

  • #821
  • May 8, 2020 8:09am May 8, 2020 8:09am
Quoting Seysin32
{quote} {image}
Strong S/R zone+ strong TL:
Attached Image (click to enlarge)
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It looks like shorting was not a good idea.
  • #822
  • May 8, 2020 8:16am May 8, 2020 8:16am
ej h1 trend reversal
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ITB - Seeing Orderliness amongst 'Randomness'
  • #823
  • May 8, 2020 8:24am May 8, 2020 8:24am
Quoting vitall
{quote} Strong S/R zone+ strong TL: {image} It looks like shorting was not a good idea.
as per trading a m15 chart, the short trade had already fulfilled the target of tp1 and tp2 before the reversal.
ITB - Seeing Orderliness amongst 'Randomness'
  • #824
  • May 8, 2020 9:18am May 8, 2020 9:18am
This article might be interesting for FCP traders:
https://tradingsim.com/blog/andrews-pitchfork/
  • #825
  • May 8, 2020 9:39am May 8, 2020 9:39am
Quoting vitall
{quote} Strong S/R zone+ strong TL: {image} It looks like shorting was not a good idea.
In this case, it did not matter, it was about something else, if you understand.
Quoting vitall
This article might be interesting for FCP traders: ...
it has already been discussed here earlier.
  • #826
  • May 8, 2020 10:08am May 8, 2020 10:08am
FCP - GBP/USD
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  • #827
  • May 8, 2020 11:25am May 8, 2020 11:25am
Quoting Seysin32
FCP - GBP/USD {image}
It was Big News movement.Could be the opposite way.
  • #828
  • May 8, 2020 11:48am May 8, 2020 11:48am
Quoting vitall
{quote} It was Big News movement.Could be the opposite way.
Firstly, this is not entirely true. If you watched the price at the time of the news, you could see how, after the publication of the news, the price began to fall. This went on for about an hour. All who expected the sale, sold. Well, then the price did, what was expected - turned up. Secondly, what will happen next no longer matters, the model worked.
  • #829
  • Edited 2:34pm May 8, 2020 2:19pm | Edited 2:34pm
Waiting for a trigger on Copper. Price rejected from Daily Supply zone above.

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  • #830
  • May 8, 2020 3:00pm May 8, 2020 3:00pm
Quoting Okydok
Waiting for a trigger on Copper. Price rejected from Daily Supply zone above. {image}

Attached Image (click to enlarge)
Click to Enlarge Name: cop m15.JPG Size: 115 KB
  • #831
  • May 8, 2020 3:41pm May 8, 2020 3:41pm
A big lesson learned with your picture SeySin, thanks...cant believe how I missed last swing high...was pretty clear
  • #832
  • May 8, 2020 6:12pm May 8, 2020 6:12pm
Have a question to most experienced users...Which one of options below is the correct one?

The channel created on A is wider but looks more balanced than B.
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  • #833
  • May 8, 2020 10:36pm May 8, 2020 10:36pm
Quoting Okydok
Have a question to most experienced users...Which one of options below is the correct one? The channel created on A is wider but looks more balanced than B. {image}
if you prefer A, the channel is too wide for h1.
h4 or d1 would have a more balanced view. this means that the trade would have been held longer.

h1 would have presented more trade opportunities but with shorter targets.

trade targets according to the time frame one is trading.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #834
  • May 9, 2020 2:18am May 9, 2020 2:18am
Where do I find the Indi for MT4 showing in post 833?

Thanks for help,
Renko
  • #835
  • May 9, 2020 2:32am May 9, 2020 2:32am
Quoting renkotop
Where do I find the Indi for MT4 showing in post 833? Thanks for help, Renko
Did you check the "paperclip" top right of every thread?

Not saying that is it, but could be while you're waiting on answer



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It takes a lot for me to IGNORE you, but you can try.
  • #836
  • May 9, 2020 2:57am May 9, 2020 2:57am
@IntheBox

Hey Fellow SGporean! this is my first attempt to draw the channel on my chart. I have an GA H1 example here. looking to go either long or short on the break. Did i draw it correctly?

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  • #837
  • May 9, 2020 3:01am May 9, 2020 3:01am
Quoting renkotop
Where do I find the Indi for MT4 showing in post 833? Thanks for help, Renko
MT4 -> Insert -> Channels -> Fibonacci
Change fib channel setting.
ITB - Seeing Orderliness amongst 'Randomness'
  • #838
  • May 9, 2020 3:29am May 9, 2020 3:29am
Quoting Erebus
{quote} Did you check the "paperclip" top right of every thread? Not saying that is it, but could be while you're waiting on answer {image}
Thank you,
Renko
  • #839
  • May 9, 2020 3:43am May 9, 2020 3:43am
Quoting benjamintoh8
@IntheBox Hey Fellow SGporean! this is my first attempt to draw the channel on my chart. I have an GA H1 example here. looking to go either long or short on the break. Did i draw it correctly? {image}
i have a different view.
trend is down but price at d1 support.
price is in a range per yellow box.
use horizontal channel when price break out of box.
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Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #840
  • May 9, 2020 3:56am May 9, 2020 3:56am
Thanks Inthebox for your response,

I have also done up EU as shown... did i draw correctly? I feel that the Channel 1 is in play now and might go to the TP as shown by the arrows before price comes down to put Channel 2 into play.

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