The Fibonacci channel projections (FCP)
Simple yet elegant system graphical analysis suitable for trading on any currency pair and any time frame. The FCP system is based on a graphical display of market participant psychology, expressed in terms of the interaction of price with TL, S/R, and Fibonacci levels.
Advantages of FCP:
- Simple and, with proper money management, reliable.
- The ability to adapt to your strategy.
- May not be your trading method.
- Versatility - any pairing, any time frame.
- Clean diagrams.
Disadvantages of FCP:
- Requires certain trading experience and is not suitable for absolute beginners.
- MT4 is not the best software for graph building.
- You cannot take and use it immediately.
A few words of introduction to clarify.
Everything I offer here is completely free. I hope you will not ask for private education. I don't do that. My transactions and the small points I receive every day are enough. As you know, I don't have to prove anything to anyone. Ask everything you want to know here to make it useful to other participants in the thread.
I won’t provide screenshots of my account or my trading statistics to convince you (that’s my business and my private domain). If you have the ability, even without this, you will understand the nature and potential of the method. All you need are charts and trading examples. You will be on my profile. I'll also post a diagram with an FCP example here.
I also have the right not to reveal everything to you. I don't owe anyone anything except to thank those who have helped me and those who have studied. Consider me fulfilling my moral obligations.
You may ask why I brought you money for free... First of all, money is not brought by the system itself, but by experience and knowledge. Secondly, it's not completely free. You'll pay for it with your hard work, discipline, and training time in front of the monitor. Those who are willing to put in the effort will receive results. At its core, the FCP system is simple, but it's impossible to explain it immediately (I think it's even harmful), so be patient and you'll succeed. I'll explain FCP step by step and over time (or maybe soon) you'll understand everything.
In this thread we only discuss FCP. I think you know how to behave so that everyone feels comfortable and this thread is useful to its participants.
I hope this post can be a place for fans of this system to connect.
The FCP system is based on a graphical display of market participant psychology, expressed in terms of price interaction with TL and Fibonacci levels. The core idea of FCP is that when price breaks out of a diagonal/horizontal channel or triangle, it moves a distance equal to the projection of the FIBO level onto the width of the channel. We will start with the FIBO projection of the diagonal channel, which is built from the trend line, as this is the basis. In FCP, for TL we will use the Sperandeo method (Trader Vic).
Take an uptrend as an example.
Find the last highest low (or the bottom before the last largest peak). Draw a beam from this point to the left. The first bottom of the contact line will be the second point. You got our trend line. Construct the channel so that one side coincides with the TL. Normally we get point 3 by placing the maximum (minimum) fluctuation on the center line of the channel, but the best location for point 3 is a straight continuous movement as far away from point 1 or point 2 as possible. Measure the vertical width of the channel and build a FIBO grid equal to that width. When the price leaves the channel, place the FIBO grid so that the line 1.000 passes through the breakdown point of TL. The 0.382 and 0.000 lines will correspond to our target prices. Look for entry opportunities after the closing signal candle at 1.000 points. Stop loss is usually a few pips above the 1.000 level or extending 1.272.
My daily trading is mainly scalping on m5 or m1. However, I don't recommend starting with less than 1 hour until you have a good grasp of the system.
Post with FCP explanation:
, 14-15, 19, 23, 43, 119, 158, 173, 175, 205, 269, 294, 415, 657, 761,
Advantages of FCP:
- Simple and, with proper money management, reliable.
- The ability to adapt to your strategy.
- May not be your trading method.
- Versatility - any pairing, any time frame.
- Clean diagrams.
Disadvantages of FCP:
- Requires certain trading experience and is not suitable for absolute beginners.
- MT4 is not the best software for graph building.
- You cannot take and use it immediately.
----------------------------------------------------------------------------------------------------------------
A few words of introduction to clarify.
Everything I offer here is completely free. I hope you will not ask for private education. I don't do that. My transactions and the small points I receive every day are enough. As you know, I don't have to prove anything to anyone. Ask everything you want to know here to make it useful to other participants in the thread.
I won’t provide screenshots of my account or my trading statistics to convince you (that’s my business and my private domain). If you have the ability, even without this, you will understand the nature and potential of the method. All you need are charts and trading examples. You will be on my profile. I'll also post a diagram with an FCP example here.
I also have the right not to reveal everything to you. I don't owe anyone anything except to thank those who have helped me and those who have studied. Consider me fulfilling my moral obligations.
You may ask why I brought you money for free... First of all, money is not brought by the system itself, but by experience and knowledge. Secondly, it's not completely free. You'll pay for it with your hard work, discipline, and training time in front of the monitor. Those who are willing to put in the effort will receive results. At its core, the FCP system is simple, but it's impossible to explain it immediately (I think it's even harmful), so be patient and you'll succeed. I'll explain FCP step by step and over time (or maybe soon) you'll understand everything.
In this thread we only discuss FCP. I think you know how to behave so that everyone feels comfortable and this thread is useful to its participants.
I hope this post can be a place for fans of this system to connect.
----------------------------------------------------------------------------------------------------------------
The FCP system is based on a graphical display of market participant psychology, expressed in terms of price interaction with TL and Fibonacci levels. The core idea of FCP is that when price breaks out of a diagonal/horizontal channel or triangle, it moves a distance equal to the projection of the FIBO level onto the width of the channel. We will start with the FIBO projection of the diagonal channel, which is built from the trend line, as this is the basis. In FCP, for TL we will use the Sperandeo method (Trader Vic).
Take an uptrend as an example.
Find the last highest low (or the bottom before the last largest peak). Draw a beam from this point to the left. The first bottom of the contact line will be the second point. You got our trend line. Construct the channel so that one side coincides with the TL. Normally we get point 3 by placing the maximum (minimum) fluctuation on the center line of the channel, but the best location for point 3 is a straight continuous movement as far away from point 1 or point 2 as possible. Measure the vertical width of the channel and build a FIBO grid equal to that width. When the price leaves the channel, place the FIBO grid so that the line 1.000 passes through the breakdown point of TL. The 0.382 and 0.000 lines will correspond to our target prices. Look for entry opportunities after the closing signal candle at 1.000 points. Stop loss is usually a few pips above the 1.000 level or extending 1.272.
My daily trading is mainly scalping on m5 or m1. However, I don't recommend starting with less than 1 hour until you have a good grasp of the system.
----------------------------------------------------------------------------------------------------------------
Post with FCP explanation:
, 14-15, 19, 23, 43, 119, 158, 173, 175, 205, 269, 294, 415, 657, 761,
- Also read Inthebox Posts, Posts
- Setting Up FCP in MT4 Post, Post, Post, Post
- Set MA Post, MACD-India Post
- FCP Posts When Prices Move
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