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The Fibonacci channel projections (FCP)

  • #1,581
  • Dec 8, 2020 10:03am Dec 8, 2020 10:03am
potential?
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Question, when you're looking for a setup, what are the things you are looking for? For example, in an uptrend, do you try to see whether there are two lows for TL, connect them followed by a HH,LH,HL,LL and break of TL?
  • #1,582
  • Dec 8, 2020 10:18am Dec 8, 2020 10:18am
Quoting Inthebox
{quote} good enough for day trading. {image}
Follow up on previous post, I am asking because at what point do you know that there Is a break of the TL?
Just trying to learn
example:
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  • #1,583
  • Dec 8, 2020 10:31am Dec 8, 2020 10:31am
Quoting Forexnub
{quote} Have you been able to get any trades today? I haven't found any setups yet due to the range:/
other than gj, there's gu.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,584
  • Dec 8, 2020 10:48am Dec 8, 2020 10:48am
Quoting Forexnub
{quote} Follow up on previous post, I am asking because at what point do you know that there Is a break of the TL? Just trying to learn example: {image}
drawing of trend line.
when fractal 2 break, draw trend line from 1 to 3.
you can have outer trend line B, inner trend line A.
when inner trend line breaks, price tend to go for outer trend line, or a fractal.

to be continued .....
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,585
  • Dec 8, 2020 11:20am Dec 8, 2020 11:20am
Quoting Inthebox
{quote} to be continued ..... {image}
same application when looking at h1.
only when you are able to draw a trend line, there's a trend only in that particular time frame you are looking at.
there could be a trend in h1 but not h4.

when a trend line is broken, there is no trend yet when no fractal has been broken.
price could range or could go back into the broken trend line.

so that's how one can interpret when there's a trend or range in a particular time frame.

however, drawing FCP is different from drawing a trend line.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,586
  • Dec 8, 2020 12:56pm Dec 8, 2020 12:56pm
Appreciate it, I'm going to look back on the charts.

Quote
when fractal 2 break, draw trend line from 1 to 3.

I'm still a unsure about this though. Would the break of fractal 2 be where I placed the green circles and then price closing below the HL fractal (green square) and then coming to retest it?

Attached Image
  • #1,587
  • Dec 8, 2020 7:43pm Dec 8, 2020 7:43pm
Quoting Forexnub
Appreciate it, I'm going to look back on the charts. {quote} I'm still a unsure about this though. Would the break of fractal 2 be where I placed the green circles and then price closing below the HL fractal (green square) and then coming to retest it? {image}
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Inserted Video
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,588
  • Dec 8, 2020 8:13pm Dec 8, 2020 8:13pm
if the cue from previous 2 days is to be taken, the break out of the box is around european session.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,589
  • Dec 8, 2020 8:24pm Dec 8, 2020 8:24pm
just to clarify, what i had shown above are just something extra that one can add to knowledge.
now back to FCP proper.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,590
  • Dec 8, 2020 10:37pm Dec 8, 2020 10:37pm
Quoting Inthebox
if the cue from previous 2 days is to be taken, the break out of the box is around european session. {image}
quick short day trade result during asia session.
just repeat looking for set ups in european session and/or new york session.
2 winning sessions per day is more than enough.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,591
  • Dec 9, 2020 12:16am Dec 9, 2020 12:16am
this time gbp.
you see the big blue candle.
that's an exhausting candle.
the latter upward momentum died off slowly, compared to initial, it's nowhere near.
and eventually has to fall.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,592
  • Dec 9, 2020 1:13am Dec 9, 2020 1:13am
maybe
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,593
  • Dec 9, 2020 3:24am Dec 9, 2020 3:24am
right now:
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  • #1,594
  • Dec 9, 2020 3:37am Dec 9, 2020 3:37am
this is THE move for european session.
regrets? no.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,595
  • Dec 9, 2020 5:33am Dec 9, 2020 5:33am
Quoting Seysin32
right now: {image}
model progress:
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  • #1,596
  • Dec 9, 2020 5:50am Dec 9, 2020 5:50am
Quoting Seysin32
{quote} model progress: {image}
Closed at 2107 with +25p. Enough for the scalp...
Very accurate:
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  • #1,597
  • Dec 9, 2020 6:06am Dec 9, 2020 6:06am
@Seysin32
I've been following this thread for some time now, great work you have put up so far. Where the experience comes in is the subjectivity involved in drawing the fibonnaci channels, but with more practice, there'll be more winnable trades.

Kindly help look into AUDJPY, i guess a sell trade is playing out already. But for the sake of continued learning, please help analyse with a chart.

Thanks
  • #1,598
  • Edited 3:18pm Dec 9, 2020 6:32am | Edited 3:18pm
Quoting Express
@Seysin32 I've been following this thread for some time now, great work you have put up so far. Where the experience comes in is the subjectivity involved in drawing the fibonnaci channels, but with more practice, there'll be more winnable trades. Kindly help look into AUDJPY, i guess a sell trade is playing out already. But for the sake of continued learning, please help analyse with a chart. Thanks
Possible scenario. Additional signals are needed.
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  • #1,599
  • Dec 9, 2020 6:48am Dec 9, 2020 6:48am
Thanks.
Please when the additional signals show, kindly help with complete analysis.
  • #1,600
  • Dec 9, 2020 6:52am Dec 9, 2020 6:52am
Quoting Express
Thanks. Please when the additional signals show, kindly help with complete analysis.
These should be signals from your trading system, not mine.
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