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The Fibonacci channel projections (FCP)

  • #1,821
  • Edited 9:43pm Jun 3, 2021 9:32pm | Edited 9:43pm
Quoting gerval
{quote} Viewing only that graph in m15 ... Less vertical angle of LT, width of the channel more proportionate to the bearish movement, engulfing candle close to round price, there are no touches to the LT between point 1 and 2. It will be interesting to know your opinion, as this is repeated many times before making a price turn.
on hindsight, all 3 trend lines are workable on certain conditions, one of which is by placing SL below the round number. price testing the trend lines, not going below them.
if solely looking only at m15, some would like to have tight SL not mind trying again later on. the larger profit will cover the smaller loss.

what i want to emphasize is to get as many confluence reasons as possible and checking the higher time frames.
in this example, just by looking at W1 and D1 candles and drawing horizontal lines from their highs lows. Aren't they not support resistance in lower time frames?
one will see from W1 candle that there was a fake out.
now will see whether the top is a fake out after a period of testing.
it's the key level location that is more important rather than trading upon seeing every channel breakout.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,822
  • Jun 4, 2021 4:33am Jun 4, 2021 4:33am
Quoting Inthebox
{quote} on hindsight, all 3 trend lines are workable on certain conditions, one of which is by placing SL below the round number. price testing the trend lines, not going below them. if solely looking only at m15, some would like to have tight SL not mind trying again later on. the larger profit will cover the smaller loss. what i want to emphasize is to get as many confluence reasons as possible and checking the higher time frames. in this example, just by looking at W1 and D1 candles and drawing horizontal lines from their highs lows. Aren't they...
But I understand that the SL we do not adjust to the FCP, but we would look for an SL based on the key point or round number, as well as looking for a higher ratio to compensate for losses?
The greatest possible confluence is what gives us an important advantage in our favor.
Another query, we use regular divergences as one more point in our favor, but hidden divergences also seem to work very well with FCP, we would always go in favor of trend, I will try to test it.
  • #1,823
  • Jun 4, 2021 5:01am Jun 4, 2021 5:01am
Quoting gerval
{quote} But I understand that the SL we do not adjust to the FCP, but we would look for an SL based on the key point or round number, as well as looking for a higher ratio to compensate for losses? The greatest possible confluence is what gives us an important advantage in our favor. Another query, we use regular divergences as one more point in our favor, but hidden divergences also seem to work very well with FCP, we would always go in favor of trend, I will try to test it.
my preference for SL (not a hard stop) is a strong zone of support resistance (confluence with round number and/or trend line and/or fibo).
one can also consider the fcp fib 127/161 zone.
regular divergence is for reversal and hidden divergence is for trend continuation, at times they appear one after another which is better.
i use macd for divergence, and if it also appear in the histogram, it is better.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,824
  • Jun 4, 2021 6:38am Jun 4, 2021 6:38am
But if the SL we take it to the 127-161 zone, then it does not use the TP1 or TP2 in a fixed way?.
I will try to find some confluences as it says in the box: S / R in htf, follow high timeframe trends, divergences and candle retracements at key points. If with that we get an acceptable percentage and the R / B is positive, in the long term it could be enough.
As Seysin32 says, keep it simple and calm head
  • #1,825
  • Jun 4, 2021 6:49am Jun 4, 2021 6:49am
Quoting gerval
But if the SL we take it to the 127-161 zone, then it does not use the TP1 or TP2 in a fixed way?. I will try to find some confluences as it says in the box: S / R in htf, follow high timeframe trends, divergences and candle retracements at key points. If with that we get an acceptable percentage and the R / B is positive, in the long term it could be enough. As Seysin32 says, keep it simple and calm head


This last sentence made my day. Very necessary to calm the head
  • #1,826
  • Jun 4, 2021 7:55am Jun 4, 2021 7:55am
Quoting gerval
But if the SL we take it to the 127-161 zone, then it does not use the TP1 or TP2 in a fixed way?.
i do not know whether you understand SL at 127-161 zone, so i illustrate with a chart.
previously i mentioned to watch out W1 top wick at 110.191.
https://www.forexfactory.com/thread/...9#post13567569
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,827
  • Jun 4, 2021 8:03am Jun 4, 2021 8:03am
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  • #1,828
  • Jun 4, 2021 9:31pm Jun 4, 2021 9:31pm
this new thread may add to your knowledge for those who want to learn more.
one can use it to adapt to FCP trading. not discussing here though.
https://www.forexfactory.com/thread/...trading-method
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,829
  • Jun 6, 2021 4:49pm Jun 6, 2021 4:49pm
Let's see how the EURUSD starts the week.
It is not the best situation because it is bullish, but it breaks LT, microstructure, divegence, strong candle at the entry point with rejection, respecting the channel quite well.
The timeframe could be lowered to look for a hypothetical setback if the break is confirmed. But in demo account and to see it in real ...
It could have been entered before with FCP (orange line), but at the current point is when I have seen it.
How do the experts see it?
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  • #1,830
  • Jun 6, 2021 6:06pm Jun 6, 2021 6:06pm
Quoting gerval
It could have been entered before with FCP (orange line), but at the current point is when I have seen it. How do the experts see it? {image}
no clear view at the moment because price is at circled juncture.
maybe europe session can tell more.
divergences show both up and down.
if bias is down, beware of lower support zone.
if bias is up, wait for trend line breakout and retest.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,831
  • Jun 7, 2021 10:17am Jun 7, 2021 10:17am
tp.
rn 1.2150 as support.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,832
  • Jun 21, 2021 9:41am Jun 21, 2021 9:41am
Any suggestions on how to backtest this system? Some of the criteria is subjective. Not a commentary wether or not to use the system, I just want to make a backtest with the least amount of variables possible.
  • #1,833
  • Jun 29, 2021 2:59pm Jun 29, 2021 2:59pm
Quoting TradersLand
Any suggestions on how to backtest this system? Some of the criteria is subjective. Not a commentary wether or not to use the system, I just want to make a backtest with the least amount of variables possible.
No suggestions. This system is not intended for backtesting in order to find the Grail, it is intended for trading.
And what makes it profitable is the subjectivity of an experienced trader.
  • #1,834
  • Jul 1, 2021 4:28pm Jul 1, 2021 4:28pm
When you have to fight with the market, and also with the broker ...
Entry in 100 and 0.75 of the fibo, with operation in favor, but at the beginning of the Asian session ... some broker puts a spread of 20 pips (200 tics).
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  • #1,835
  • Aug 14, 2021 11:41am Aug 14, 2021 11:41am
hello mr seysin32 !
After watching your video, I'm very happy with my education....thank you very much for the best results. I will see you again.
  • #1,836
  • Oct 13, 2021 5:51am Oct 13, 2021 5:51am
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  • #1,837
  • Jan 25, 2022 1:33am Jan 25, 2022 1:33am
Quoting TradersLand
Any suggestions on how to backtest this system? Some of the criteria is subjective. Not a commentary wether or not to use the system, I just want to make a backtest with the least amount of variables possible.
Strategies traded by human can't b backtested cause it depends on trader's experience.
  • #1,838
  • Feb 12, 2022 8:00pm Feb 12, 2022 8:00pm
Quoting Inthebox
{quote} i do not know whether you understand SL at 127-161 zone, so i illustrate with a chart. previously i mentioned to watch out W1 top wick at 110.191. https://www.forexfactory.com/thread/...9#post13567569 {image}
can i have this indicators please
  • #1,839
  • Feb 13, 2022 10:41pm Feb 13, 2022 10:41pm
Quoting mksswiss
{quote} can i have this indicators please
all done manually.
fcp
https://www.forexfactory.com/thread/...1#post12871951
fibo
https://www.forexfactory.com/thread/...8#post13063468
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,840
  • Feb 28, 2022 10:46pm Feb 28, 2022 10:46pm
hello seysin and all
hope u are well and trading is good

does anyone do gold....
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