Note for some reason on my MT4, channels/trendlines adjust themselves as price moves so please refer to the original post for channel critique.
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Disliked{quote} Thanks for the feedback. So that I'm clear, you're stating that point three should have been at the arrow in the image? If so, is this because this is considered a strong push up? {image}Ignored
Disliked{quote} this is from post #1. "On the example of uptrend. Find the last Highest Low (or bottom preceding the last maximum peak). Draw a beam from this point to the left. The first bottom that touches line the will be the second point. You got our trend line. Build the channel so that one of the sides coincides with the TL. Usually we get point 3 by placing a max (min) swing on the midline of the channel, but the best place for the point 3 would be a straight continuous movement as far as possible from point 1 or point 2. Measure the vertical width...Ignored
Disliked{quote} I see.....so the channel in this pic is accurate? https://www.forexfactory.com/thread/...8#post13336458Ignored
Disliked{quote} 20 point move in my favor then stopped out before tp1 was hit. Please advise if probabilities got me or if it was a bad entry. Note for some reason on my MT4, channels/trendlines adjust themselves as price moves so please refer to the original post for channel critique. {image}Ignored
Disliked{quote} your FCP 3 points were misplaced. you need to reread post #1 and all the links in order to establish a proper foundation of drawing the channel. different ways of drawing channel can result in different levels of TPs.Ignored
Disliked{quote} Hi mate ! I am bit of confused . Which pair on the picture ? I can not find .Ignored
Disliked{quote} 20 point move in my favor then stopped out before tp1 was hit. Please advise if probabilities got me or if it was a bad entry. Note for some reason on my MT4, channels/trendlines adjust themselves as price moves so please refer to the original post for channel critique. {image}Ignored
Disliked{quote} Hello and welcome! I am also in the process of learning (nearly 1 month) and thankful to Inthebox and Seysin32 for continuous teaching and mentoring when they can. Looking back on your posts, the best way, at least for me is through trial and error and chart time - however of course understanding the fundementals of the strategy which can be found on the first few pages of this thread with further examples throughout. For me, a recent help was on page 83 - specifically Inthebox comments! Goodluck and a happy new yearIgnored
Disliked{quote} Using the midline for point 3 or the outer trend line is what's hanging me up. Sometimes it's one, sometimes it's the other. While not having the best grasp of this part yet, I still came out with positive points after my first two days trading this method. I think I took 7 total trades. Will keep plugging away. As for the reference to page 83 - there is no page 83. Please advise. Thanks for your feedback!Ignored
Disliked{quote} Using the midline for point 3 or the outer trend line is what's hanging me up. Sometimes it's one, sometimes it's the other. While not having the best grasp of this part yet, I still came out with positive points after my first two days trading this method. I think I took 7 total trades. Will keep plugging away. As for the reference to page 83 - there is no page 83. Please advise. Thanks for your feedback!Ignored
DislikedWas at one point as high as 10%+ and gave it back but still in the positive at 4.7% on the account. Lets see for next year and see if I can get the consistency Any suggestions, comparables, or words of wisdom would be great Green pips {image}Ignored
Disliked{quote} mainly was your placement of point 3. FCP is used to give us as best an entry as possible with the TP. it's only one part of the story. the more important part is why we sold there? it looked like the trend was strong and sold on counter trend. why didn't we sell at a lower level, we could draw a channel there too? we could, depending how FCP was drawn. however the TP would be lesser, probably not hitting TP2. reasons: 1. round number 30400. 2. slowing of upward momentum. compare the 2 green arrows. shorter and not as steep. 3. double top....Ignored
Disliked{quote} Looking back on this, nice explanation! I don’t feel fully comfortable with taking counter trend trades at this time until I fully familiarise myself with the strategy and trending following. If I understand well, You are suggesting that the less steep the angle of the channel, the higher chance of price reaching take profits?Ignored