Robert24

XAUUSD Large channel with levels

FX:XAUUSD   Gold/U.S. Dollar
398 4 3
These are made with the FIB channel tool, but these are my settings. Just click in the middle of one of the lines and the anchor points will show up as circles.
This is not the same way I usually do channels. It's just another experiment with combining 3 channel sizes in levels on one very large size. The arcs are the same as IBM             which is also published. .874 and 1 go together well on many charts, but the scale has to be set for them to show up. Usually I try to find direct swings first..A swing on one arc hitting 2 points.
If you make any discoveries about this particular channel idea, let me know.
isomorph
2 years ago
how do you draw the channel? is there a tool for this?
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Robert24 isomorph
2 years ago
I just want to let you know, this is an experiment. I mention 3 channel styles that I use. 1. There are 3 or 4 channel sizes. Each channel size runs at it's own angles and follows data. TXN at the very bottom of "published" uses this method. It's the one I trust the most. This method is based on a vertical distance that remains consistent for each channel size.
2. The ANCHOR method. 2 points are attached by the magnet tool to real points. The settings for the spacings remain, but depending on the angle and distance between the two real points the between the channels can vary greatly because it's NOT based on a consistent VERTICAL distance but just the ANCHOR set points.
3. This method where I just take a major channel size and use the major 33% divisions for approximating other channels running at the SAME angles as the larger channel. This means the smaller channels are more about levels of the larger and NOT really channels in themselves.
To use this method just "make it mine". The top right arrow on the chart.
As I mentioned. These are experiments...so practice anything BEFORE actually using it...to see if it produces the proper PREDICTIONS. That is the key. Unless a method can give you prediction accuracy it's just hindsite. That's why you test it yourself.
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isomorph Robert24
2 years ago
thanks but i still don't understand how you manage to keep the spacing between the lines equidistant if you draw each line manually.
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Robert24 isomorph
2 years ago
One more thing. Don't expect 15 minute accuracy on a daily chart. Too many people make that mistake. Different charts are used to get overall views. If you are playing in 15 minute durations or less then make sure you are taking that into account.
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