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The Fibonacci channel projections (FCP)

  • #1,601
  • Dec 9, 2020 7:05am Dec 9, 2020 7:05am
Quoting Inthebox
{quote} {image} https://www.youtube.com/watch?v=mY2pA85dAEQ&t=260s
Appreciate the help and resources. Every time there is a break of a higher fractal in an uptrend situation, you draw/readjust your trendline if necessary until TL?

Is there any other FCP resources/videos I can look at?
  • #1,602
  • Dec 9, 2020 7:18am Dec 9, 2020 7:18am
Quoting Forexnub
{quote}... Is there any other FCP resources/videos I can look at?
You will not find original videos about FСP anywhere, only in this thread.
  • #1,603
  • Dec 9, 2020 7:23am Dec 9, 2020 7:23am
Quoting Forexnub
{quote} Appreciate the help and resources. Every time there is a break of a higher fractal in an uptrend situation, you draw/readjust your trendline if necessary until TL? Is there any other FCP resources/videos I can look at?
whenever fractal breaks, trend line is drawn.
some previous trend line will be made redundant, some will remain as inner trend line.
when inner trend line breaks, price gravitates to the next nearest trend line, until the last outer trend line.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,604
  • Dec 9, 2020 7:27am Dec 9, 2020 7:27am
Quoting Inthebox
{quote} whenever fractal breaks, trend line is drawn. some previous trend line will be made redundant, some will remain as inner trend line. when inner trend line breaks, price gravitates to the next nearest trend line, until the last outer trend line.
Ok, so for example in the situations below; The trendlines will be drawn/re-adjusted until a break?
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  • #1,605
  • Dec 9, 2020 7:42am Dec 9, 2020 7:42am
Quoting Forexnub
{quote} Ok, so for example in the situations below; The trendlines will be drawn/re-adjusted until a break? {image}{image}
there are 3 trend lines.
when 1 is broken, expect price to move to 2.
when 2 is broken, expect price to move to 3.

but trading is not so simple.
there are many factors involved like strength of momentum, support/resistance, etc.

so it's up to individual to apply FCP around which particular trend line.
to increase the chance, choose one around SR, fib level, divergence ....... etc ....
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,606
  • Dec 9, 2020 9:14am Dec 9, 2020 9:14am
M5 Scalp
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  • #1,607
  • Dec 9, 2020 10:02am Dec 9, 2020 10:02am
USD/JPY M1 Scalp

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  • #1,608
  • Dec 9, 2020 10:05am Dec 9, 2020 10:05am
Got into this AUD/JPY trade first then got SL-BE when it hit TP1, then I got into the above post USD/JPY. When I grow up I want to trade M1 charts like Seysin.
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  • #1,609
  • Dec 9, 2020 10:29am Dec 9, 2020 10:29am
Quoting Inthebox
maybe {image}
first entry was wrong, usd was weak all day until new york session.
reversed at resistance and fib 78.6.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,610
  • Dec 9, 2020 10:39am Dec 9, 2020 10:39am
Quoting Seysin32
{quote} Possible scenario. Additional signals are needed. {image} {image}{image}
Playing out indeed. Though the firm understanding of the combination of the channel, fibo retracement and daily open is still eluding me. Poor me...
  • #1,611
  • Dec 9, 2020 3:16pm Dec 9, 2020 3:16pm
Quoting Express
{quote} Playing out indeed. Though the firm understanding of the combination of the channel, fibo retracement and daily open is still eluding me. Poor me...
The scenario I wrote about is completed.
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  • #1,612
  • Dec 9, 2020 8:21pm Dec 9, 2020 8:21pm
ga h1
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,613
  • Dec 9, 2020 8:59pm Dec 9, 2020 8:59pm
result. a quick one.
using FCP as a pullback tool.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,614
  • Dec 10, 2020 11:32am Dec 10, 2020 11:32am
Anyone fancy selling AUDNZD?
  • #1,615
  • Dec 10, 2020 11:52am Dec 10, 2020 11:52am
Quoting Express
Anyone fancy selling AUDNZD?
i do not trade 2 commodity currencies as pair.
it could be a 3rd touch bounce. mostly blue candles.
sell only when h4 close below trend line.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,616
  • Dec 10, 2020 8:10pm Dec 10, 2020 8:10pm
do the simplest thing.
short term intra day trading is 20 pips for 1% return.
one in asia session.
one in europe session.
maybe another in new york session (my worst record).

no fear. no greed.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,617
  • Dec 10, 2020 8:29pm Dec 10, 2020 8:29pm
Quoting Inthebox
{quote} i do not trade 2 commodity currencies as pair. it could be a 3rd touch bounce. mostly blue candles. sell only when h4 close below trend line. {image}
Why don’t you like trading two commodity currencies as a pair?
  • #1,618
  • Dec 10, 2020 8:39pm Dec 10, 2020 8:39pm
Quoting JiveTrader
{quote} Why don’t you like trading two commodity currencies as a pair?
i see aud,nzd,cad under one group (commodity, agriculture, natural resources), eur,gbp under another (most time complimentary).
i rather trade the first vs the second group, rather than trade among those in the same group.
the atr can be 3 times as much.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,619
  • Dec 11, 2020 4:00am Dec 11, 2020 4:00am
Hello to everyone. It's good to see this topic get moving again. I have been quietly following and practicing since the first days. Your channel settings are always the basis of my trading.
  • #1,620
  • Dec 11, 2020 8:34am Dec 11, 2020 8:34am
Scalp on the M5, didn't wait for the retrace bouncing off daily lows.
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