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The Fibonacci channel projections (FCP)

  • #981
  • Jun 12, 2020 11:42am Jun 12, 2020 11:42am
Quoting Inthebox
{quote} all nicely packed in post 1 with many linked examples. but first you must get the channel points 1,2,3 correctly. don't understand, ask again.
am aware you said mt4 is not the best,kindly correct my first try,thank you
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  • #982
  • Jun 12, 2020 11:46am Jun 12, 2020 11:46am
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  • #983
  • Jun 12, 2020 11:51am Jun 12, 2020 11:51am
it actually selling/buying the first pullback after a confirmed trend change guys. Adam H Grimes call it the 'Anti' pattern, google it its a great trader/teacher... but FCP gives you more : confirmation levels AND targets. truly amazing. cheers all
  • #984
  • Jun 12, 2020 11:58am Jun 12, 2020 11:58am
Quoting Tragruel
{image}
but H4 move its not done. Ask if you need the chart.... DXY flyng
  • #985
  • Jun 12, 2020 12:29pm Jun 12, 2020 12:29pm
Quoting makenas
{quote} am aware you said mt4 is not the best,kindly correct my first try,thank you {image}
Seysin said that mt4 not the best, not me.
deal with the 2 comments first:
1. if selling, the lower channel should not touch any price body or shadow.
2. your channel is more than 160 pips wide, which means that you are expecting target of there about. are you comfortable with that? i myself expects 30-60 pips for day trading.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #986
  • Jun 12, 2020 1:33pm Jun 12, 2020 1:33pm
Quoting makenas
{quote} am aware you said mt4 is not the best,kindly correct my first try,thank you {image}
Oooh. This channel is too wide. Try to build more tight channel, it would give you not so much in pips, but be more safe & target can be easily reached.
Also on M30 there's trend continuation divergence, so you could enter on second swing.
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  • #987
  • Jun 13, 2020 1:50am Jun 13, 2020 1:50am
Quoting prozium
{quote} Oooh. This channel is too wide. Try to build more tight channel, it would give you not so much in pips, but be more safe & target can be easily reached. Also on M30 there's trend continuation divergence, so you could enter on second swing. {image}
Thank you, noted
  • #988
  • Jun 13, 2020 1:54am Jun 13, 2020 1:54am
Quoting Inthebox
{quote} Seysin said that mt4 not the best, not me. deal with the 2 comments first: 1. if selling, the lower channel should not touch any price body or shadow. 2. your channel is more than 160 pips wide, which means that you are expecting target of there about. are you comfortable with that? i myself expects 30-60 pips for day trading. {image}
I stand corrected and thank you for your patience,hope this charts are better
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  • #989
  • Jun 13, 2020 3:35am Jun 13, 2020 3:35am
Quoting makenas
{quote} I stand corrected and thank you for your patience,hope this charts are better {image} {image}
you got point 1 and 2 correct. now work on point 3.
get point 3 as straight a line from point 1 or point 2 with as few retracement as possible. see 1st example.
the placement of the channel at point 3 is adjustable. can be the extreme outer line, the mid line, or the quadrant line so as to get different fib projection.

i provide another perspective of h1. the channel point 2 is not drawn on the lowest point as per above example.
the distance of point 1 and 2 is shorter. it's ok as long as the channel bottom line does not touch any candle body or tail to the left.

the drawing of channel would very much dependent on when is your arrival on seeing the chart.
m15 showed a late arrival at chart compared to an earlier arrival. it was a break out entry. no retrace.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #990
  • Jun 13, 2020 4:24am Jun 13, 2020 4:24am
Quoting Inthebox
{quote} you got point 1 and 2 correct. now work on point 3. get point 3 as straight a line from point 1 or point 2 with as few retracement as possible. see 1st example. the placement of the channel at point 3 is adjustable. can be the extreme outer line, the mid line, or the quadrant line so as to get different fib projection. i provide another perspective of h1. the channel point 2 is not drawn on the lowest point as per above example. the distance of point 1 and 2 is shorter. it's ok as long as the channel bottom line does not touch any candle...
Thanks very much, all understood,i will spend the weekend on the charts waiting for monday.Blessed weekend
  • #991
  • Jun 14, 2020 4:02am Jun 14, 2020 4:02am
just maybe?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #992
  • Jun 14, 2020 4:13am Jun 14, 2020 4:13am
Quoting Tragruel
{quote} Using the Valid trendline, this would be the result for EURJPY H1. you see, this was actually a very good FCP. {image}
I see. I understand where you are coming from now. Thank you so much for your help
  • #993
  • Jun 15, 2020 2:14am Jun 15, 2020 2:14am
Hello there.
I wish everyone a successful week.
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  • #994
  • Jun 15, 2020 1:37pm Jun 15, 2020 1:37pm
eur and gbp became weak when new york opened.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #995
  • Jun 15, 2020 2:10pm Jun 15, 2020 2:10pm
Quoting Inthebox
just maybe? {image}
plan your trade. and trade your plan.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #996
  • Jun 15, 2020 10:11pm Jun 15, 2020 10:11pm
watch for rejection
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ITB - Seeing Orderliness amongst 'Randomness'
  • #997
  • Jun 15, 2020 11:32pm Jun 15, 2020 11:32pm
Quoting Inthebox
watch for rejection {image}
I'm up to the prediction game. my view : above daily/weekly pivots, above 0.786 zone... lets see....
trade safe...
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  • #998
  • Edited 12:18am Jun 16, 2020 12:07am | Edited 12:18am
Quoting Tragruel
{quote} I'm up to the prediction game. my view : above daily/weekly pivots, above 0.786 zone... lets see.... trade safe... {image}
yes there is an attraction to the stronger upper resistance zone, probably to fib 61.8. then the down trend continuation. just watching for the main event turning point at the 2 zones.
ITB - Seeing Orderliness amongst 'Randomness'
  • #999
  • Jun 16, 2020 4:55am Jun 16, 2020 4:55am
Quoting Inthebox
watch for rejection {image}
gj result
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,000
  • Jun 16, 2020 5:09am Jun 16, 2020 5:09am
hmmmn ..... do not know why my mt5 chart arrows sometime shift half candle to the right.
and i cannot simply drag a historical trade onto the chart.
ITB - Seeing Orderliness amongst 'Randomness'
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