The Fibonacci channel projections (FCP) | Page 70 | Forex Factory

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The Fibonacci channel projections (FCP)

  • #1,381
  • Aug 7, 2020 12:52am Aug 7, 2020 12:52am
london session
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,382
  • Aug 7, 2020 2:20am Aug 7, 2020 2:20am
Hello everyone!
EUR/USD simple scalp:
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  • #1,383
  • Aug 7, 2020 2:21am Aug 7, 2020 2:21am
Quoting Tx15
Thanks Seysin32 for your response. How many ticks do you use on the HA candles chart? I have observed the monitor setup that you have shown...very impressive. I have only one MT4 monitor setup, and have always felt as though I needed to upgrade my trading hardware. Thanks for all that you have shared on your FCP method, Tx15
My workstation consists of three monitors 27 "each (for this I have a powerful video card on my computer). Now this size is redundant for me, 24" is fine. Thus, I can see at the same time all the charts that I use in trading. As for the tick chart, this is a 99 tick chart. The candle fills in about 1.5 to 3 minutes. Combined with Heikin Ashi candlesticks, this gives a clear picture (no noise) of micro-trends for scalping. See example below:
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  • #1,384
  • Aug 7, 2020 2:22am Aug 7, 2020 2:22am
Quoting b1ackjet
After reading this thread further, I think I may have plot point 1 wrongly. Here's my revised FCP. Hope you could comments. Thanks. {image}
In terms of indices and stocks, these are charts with a lot of gaps. This can cause inaccuracies in the building of the FCP model. In addition, channels are often broken with a gap. What to do if the channel is broken with a gap, I will write about this later.
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  • #1,385
  • Aug 7, 2020 2:44am Aug 7, 2020 2:44am
Quoting Seysin32
Hello everyone! EUR/USD simple scalp: {image}
Exact continuation of the model (without me):
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  • #1,386
  • Aug 7, 2020 6:39am Aug 7, 2020 6:39am
new york session
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,387
  • Aug 7, 2020 10:35am Aug 7, 2020 10:35am
A practice FCP position on EUR/USD 15M that I took this morning. I confirmed the direction by looking at the 1H HTF. Per Seysin32's method, once the TL was broken, I drew the channel, the fib projection based on the width of the channel, and waited for the right setup with supporting volume. Regular divergence, which I didn't show was also supporting the position I placed. I believe the key to taking this successful position was the correct setup candles retracing back to the 75/78.6 levels.



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  • #1,388
  • Aug 7, 2020 7:56pm Aug 7, 2020 7:56pm
Quoting Seysin32
{quote} In terms of indices and stocks, these are charts with a lot of gaps. This can cause inaccuracies in the building of the FCP model. In addition, channels are often broken with a gap. What to do if the channel is broken with a gap, I will write about this later. {image}
Thanks for your comments. I'll be interested to learn this from you. Looking forward.
  • #1,389
  • Aug 7, 2020 7:58pm Aug 7, 2020 7:58pm
Quoting Inthebox
new york session {image}
Thanks for your sharing. Nice catch!
  • #1,390
  • Aug 8, 2020 6:39pm Aug 8, 2020 6:39pm
Evening Seysin32,

I have read page 1 three times along with all of the posts that you have included. In addition, I have now read all of the thread posts up to page 70. I will start tomorrow from page 1, dedicate as much time as it requires, and then proceed to read and study all of the thread posts up through the current page. Any questions that I have during this period of time will be asked on your thread. I will continue to post charts with explanations as I move forward.

Thanks again for sharing your FCP method...I love it,
Tx15
  • #1,391
  • Aug 8, 2020 9:36pm Aug 8, 2020 9:36pm
How I can avoid this trade?
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  • #1,392
  • Aug 9, 2020 12:05am Aug 9, 2020 12:05am
Quoting htawfik
How I can avoid this trade? {image}
this is best answered by yourself by looking at just these 2 horizontal and slanting lines in higher time frames.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,393
  • Aug 9, 2020 3:49am Aug 9, 2020 3:49am
Quoting htawfik
How I can avoid this trade? {image}
Hello.
I can give a simple or complex answer. Which one do you want?
  • #1,394
  • Aug 9, 2020 8:18pm Aug 9, 2020 8:18pm
Mantra of a successful trader.
1. A winning trader picks his time and place of combat where the odds are in his favor.
2. Be alert to both potential opportunities and dangers.
3. Have the patience to wait and the decisiveness to strike.

Everything is difficult at first.
With time and practice, it will all become clear.
A battle does not determine the result of the war.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,395
  • Aug 9, 2020 8:47pm Aug 9, 2020 8:47pm
Quoting Inthebox
Mantra of a successful trader. 1. A winning trader picks his time and place of combat where the odds are in his favor. 2. Be alert to both potential opportunities and dangers. 3. Have the patience to wait and the decisiveness to strike. Everything is difficult at first. With time and practice, it will all become clear. A battle does not determine the result of the war.
Evening Inthebox,

The mantra you stated in post #1394 is a truism in my personal opinion. As a retired educator in the public school system of America, I believe that your country was referred to at one time as the Garden State...correct me if I'm wrong. Regardless, I appreciate the valuable input that you have provided to this thread. I am still learning Seysin32's FCP method. Thank you for sharing your knowledge and experience as it relates to the FCP method of making deals and placing trades.

Looking forward to a very positive trading week for all that believe and apply the FCP method of trading,
Tx15
  • #1,396
  • Aug 9, 2020 10:07pm Aug 9, 2020 10:07pm
Quoting Tx15
{quote} As a retired educator in the public school system of America, I believe that your country was referred to at one time as the Garden State...correct me if I'm wrong.
we had just celebrated our 55th birthday on 9aug.
a month ago, we had elected the same ruling party since inception for the 15th consecutive term in government.
the same party that turned the country from a swarm land with no natural resources (except human brains) to a city state in such a short period of time.
https://www.smartcitylab.com/blog/ur...n-garden-city/

FCP from post #1.
- The ability to adapt to your strategy.
- May be in addition to your trading method.

use those that compliment and discard those that does not.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,397
  • Aug 10, 2020 1:45am Aug 10, 2020 1:45am
Hello, friends!
EUR/USD small quick scalp:
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  • #1,398
  • Aug 10, 2020 2:50am Aug 10, 2020 2:50am
And a bit more...
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  • #1,399
  • Aug 10, 2020 5:21am Aug 10, 2020 5:21am
And a bit more...
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Enough for Monday.
Now I can do other things.
  • #1,400
  • Aug 10, 2020 6:25am Aug 10, 2020 6:25am
Quoting b1ackjet
{quote} Thanks for your comments. I'll be interested to learn this from you. Looking forward.
If the gap breaks the channel, connect the candle close in the channel and the open candle outside the channel.
Place the Fibo projection at the intersection of this line and the TL. I found two examples from my archive and one recent USOil example.
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