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The Fibonacci channel projections (FCP)

  • #1,341
  • Aug 3, 2020 4:11am Aug 3, 2020 4:11am
previous day low sr flip
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,342
  • Aug 3, 2020 10:57am Aug 3, 2020 10:57am
Quoting Tx15
Evening Seysin32. If you get a chance, would you provide some input on how you would trade this chart development? I understand that skipping it without any consideration is also an option. Thanks, Tx15 {image}
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not easy but some clue.
w1 pin bar
d1 range with hh hl
bias up
m5 scalp on trend line - level box moved up.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,343
  • Aug 3, 2020 2:02pm Aug 3, 2020 2:02pm
USD/MXN - m5 Scalp
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  • #1,344
  • Aug 3, 2020 2:35pm Aug 3, 2020 2:35pm
Thank you Inthebox for your response. I have additional questions, but have wife in hospital and will get back to trading later.

Thanks again,
Tx15
  • #1,345
  • Aug 3, 2020 8:47pm Aug 3, 2020 8:47pm
Inthebox,

When price breaks out of the wedge, where do you measure the width for drawing the fibs and setting the correct number of pips between 0 and 100?

Thanks for your response,
Tx15

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  • #1,346
  • Aug 3, 2020 9:35pm Aug 3, 2020 9:35pm
Quoting Tx15
Inthebox, When price breaks out of the wedge, where do you measure the width for drawing the fibs and setting the correct number of pips between 0 and 100? Thanks for your response, Tx15 {image}
for day trading, 25 pips for 1% gain is good enough for me.
as many touches of fib channel lines as possible (3 circled).
lower high lower low.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,347
  • Aug 4, 2020 2:13am Aug 4, 2020 2:13am
from the above post.

trend line sr flip.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,348
  • Aug 4, 2020 4:28am Aug 4, 2020 4:28am
Quoting Tx15
Evening Seysin32. If you get a chance, would you provide some input on how you would trade this chart development? I understand that skipping it without any consideration is also an option. Thanks, Tx15 {image}
Hello.
Sorry to answer late. I was busy. Hope with your wife will be fine.
Let's take a look at your example. I prepared the charts yesterday, and as I see today the situation has not changed significantly.
So, imagine that we only have the H1 chart.
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  • #1,349
  • Aug 4, 2020 5:20am Aug 4, 2020 5:20am
london session
trend line sr flip
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,350
  • Aug 4, 2020 5:39am Aug 4, 2020 5:39am
Quoting le celte
{quote} Hi, Is-it possible to have this ChannelFibo in mq4 please ? Cheers jf {file}
Hope this helps it's a fib channel script for MT4
https://docs.mql4.com/constants/obje...bj_fibochannel
  • #1,351
  • Aug 4, 2020 5:54am Aug 4, 2020 5:54am
EUR/USD simple m1 scalp:
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  • #1,352
  • Aug 4, 2020 6:24am Aug 4, 2020 6:24am
What do you think of this? I did not take this trade because there wasn't a higher high on price action that corresponded with the lower MACD. Price kinds of trails off above the trend line. However everything else looks good.
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  • #1,353
  • Aug 4, 2020 6:35am Aug 4, 2020 6:35am
Quoting JiveTrader
What do you think of this? I did not take this trade because there wasn't a higher high on price action that corresponded with the lower MACD. Price kinds of trails off above the trend line. However everything else looks good. {image}
i would take this deal
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  • #1,354
  • Aug 4, 2020 1:45pm Aug 4, 2020 1:45pm
Seysin - This one almost hit my SL, but I g out at TP2. Would you have taken this trade?

USD/MXN m5 - Scalp

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  • #1,355
  • Aug 4, 2020 2:31pm Aug 4, 2020 2:31pm
Quoting JiveTrader
...{image}
Not sure... Maybe.
After the new minimum, I would rebuild the TL.
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  • #1,356
  • Aug 4, 2020 2:51pm Aug 4, 2020 2:51pm
Great day. Look at the M1 charts. Then, look at the H1 chart. This is why I am doing scalping.
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  • #1,357
  • Aug 4, 2020 5:58pm Aug 4, 2020 5:58pm
Evening again Seysin32, as it is 6 pm cst,

Thank you for such a clear and informative response on your post #1348. I have studied the charts you posted several times, and I will certainly add this post to the archive that I'm maintaining. In addition, since I'm not that familiar with the accumulation area you alluded to, I will concentrate on your FCP method of TL, BO, channel, fib projection, levels 100 and 75/78.6, and TP's at 38.2 and 0.00. Those trade deals develop daily.

Thanks for your comment regarding my wife. The doctor discharged her today, and she is now resting peacefully as it is almost impossible to get any quality rest in a hospital setting.

Going back to page 1. Will re-read again, as each time I gain additional insight as how to successfully trade the FCP method.

Thanks again,
Tx15
  • #1,358
  • Aug 4, 2020 11:03pm Aug 4, 2020 11:03pm
Quoting Seysin32
{quote} Hello. Sorry to answer late. I was busy. Hope with your wife will be fine. Let's take a look at your example. I prepared the charts yesterday, and as I see today the situation has not changed significantly. So, imagine that we only have the H1 chart. {image}{image}{image} {image} {image}
this could be added to post #1 under something like 'dealing with fcp when price becomes ranging'.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,359
  • Aug 5, 2020 12:24am Aug 5, 2020 12:24am
watchlist
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,360
  • Aug 5, 2020 1:31am Aug 5, 2020 1:31am
USDCHF H1+M15
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