What happened?
Support and Resistance Method - Pharley 708 replies
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Disliked{quote} Sure! Here is the same chart for the cadjpy trade two days back. 1 is where the price breaks out 2 is where i started to draw the purple line. Then i wait for price to pullback/retrace and put on my limit order 3 is where the limit order is triggered. It was hit exactly and reverse back to my tp at 11 pips for that pair. Of course, this is all in hindsight and i dont like hindsight trading where traders only post the trades after it happened. The good thing about this method is we draw the line, wait for price to come, take the trade and...Ignored
DislikedWonderful to trade by hand....even then i have some questions: When to start a trade...how many points need the price move away from the S/R line? When you calculate per ADR....how to calculate this Distance? SL on the other side....how many points.... As you see i have coded a similar system and I am very interested in this!Ignored