ITB - Seeing Orderliness amongst 'Randomness'
The Fibonacci channel projections (FCP)
- #1,402
- Edited 10:03am Aug 10, 2020 9:42am | Edited 10:03am
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #1,403
- Aug 10, 2020 10:44am Aug 10, 2020 10:44am
Results on the EUR/USD 15M chart. I place emphasis on all that Seysin32 and Inthebox have shared with us. Spend time on the TL and adjust as necessary...this is the basis for the FCP method. Draw an inaccurate TL and nothing else lines up appropriately. I concentrate on several factors after the TL has been drawn. PA of points 1 and 2 in order to establish point 3. High volume is a key to placing a deal. Divergence is nice to have, but not absolutely necessary. I also believe that the setup candles play a big role in making a successful trade...this takes patience, and some trades are lost, but I still emphasize the importance. I most often wait for a retrace back to the 75/78.6 level before considering a position. I always look at HTFs to confirm trend direction.
If I have misstated anything, then please correct me. I am still learning and will continue to learn for quite some time.
Thanks again for the FCP method,
Tx15
- #1,405
- Aug 10, 2020 11:43am Aug 10, 2020 11:43am
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #1,406
- Aug 10, 2020 11:53am Aug 10, 2020 11:53am
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #1,410
- Edited 11:19pm Aug 10, 2020 10:52pm | Edited 11:19pm
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #1,411
- Aug 11, 2020 5:15am Aug 11, 2020 5:15am
- Joined Apr 2013 | Status: Trader | 1,528 Posts
Hello everyone!
EUR/USD scalp (difficult and not fast
)
EUR/USD scalp (difficult and not fast
) - #1,412
- Aug 11, 2020 5:48am Aug 11, 2020 5:48am
- Joined Apr 2013 | Status: Trader | 1,528 Posts
{quote} Hi, Thank you. would you give us the two answers. I would like to learn more about this method as I am currently practicing it and any more details would help a lot.
1. The simple answer is shown in the charts below.
2. Now, a more complex answer to how to avoid the wrong deal:
...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...
- #1,415
- Aug 11, 2020 8:49am Aug 11, 2020 8:49am
{quote} 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. {image}{image}{image}
- #1,418
- Aug 11, 2020 1:41pm Aug 11, 2020 1:41pm
- Joined Apr 2013 | Status: Trader | 1,528 Posts
{quote} Hi Seysin, Pardon me if you have mentioned this before. May I know the EMA/WMA setting for 1min chart? It seem different from the 48EMA/120WMA in which I am aware of. Thank you.
- #1,420
- Aug 11, 2020 2:20pm Aug 11, 2020 2:20pm
- Joined Apr 2013 | Status: Trader | 1,528 Posts
EUR/USD m5 Scalp - Took a while to hit TP2 {image}
