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Support and Resistance Method - Pharley

  • Post #641
  • Quote
  • Edited at 3:00am Sep 30, 2015 2:29am | Edited at 3:00am
Quoting bloodpoodle
Just a thought here... This may blow your mind.... Pick a random spot on your chart..... Draw a random horizontal support and resistance line at the spot you chose. Does price react to that level? Does it appear to be acting as support / resistance? How does this Random line hold up over time? Could you have taken good trades off this random line?
Nice thought. You could be right here! Mass psychology! We all react to the same illusional lines . But hey we are here on planet earth and we need a begin and end, something to hold on to.......and it works......at least for me.... (I only draw line where a big up or downmove happened the market seems to repeat these!)
Where is Pharley i miss him and his knowledge hope he is doing well.


Best regards
  • Post #643
  • Quote
  • Edited at 10:25am Oct 1, 2015 10:15am | Edited at 10:25am
Maybe Pharley is busy. Don't forget it is a lot of work to support such a FF thread and he gave us a lot of material to work with!

I had good pips on the EURAUD and saw a new change on the return! Entry below!
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Quoting Dutchpips
Maybe Pharley is busy. Don't forget it is a lot of work to support such a FF thread and he gave us a lot of material to work with! I had good pips on the EURAUD and saw a new change on the return! Entry below! {image}
Hi Dutchpips,
Cheer for good pips on EA down rally
Now I'm on board too, with EURNZD. Hope we will have a good daily candle
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Quoting net1309
{quote} Hi Dutchpips, Cheer for good pips on EA down rally Now I'm on board too, with EURNZD. Hope we will have a good daily candle {image}
Hi Net1309,

Great trade! Lots of greenpips for you! . We will see tommorrow. I just entered my second entry on the EURAUD!
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Unfortunatly got stopped out on the 2nd EURAUD trade and also exit the 1st trade. I had a small profit 1st trade was 1 lot and 2nd 0,5 lot. Afternoon EURAUD was skyrocket high after US news.
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Quoting Dutchpips
Unfortunatly got stopped out on the 2nd EURAUD trade and also exit the 1st trade. I had a small profit 1st trade was 1 lot and 2nd 0,5 lot. Afternoon EURAUD was skyrocket high after US news. {image}
Hi Dutchpips, congratulations anyway!
Hi Guys
Been reading with interest.Here is one set up I am in , got a good entry at round number and weekly low, will try to add positions on retrace using pharleys method.first position at BE
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Quoting das
Hi Guys Been reading with interest.Here is one set up I am in , got a good entry at round number and weekly low, will try to add positions on retrace using pharleys method.first position at BE {image} {image}
Got stopped out as price continued lower
Quoting das
Hi Guys Been reading with interest.Here is one set up I am in , got a good entry at round number and weekly low, will try to add positions on retrace using pharleys method.first position at BE {image} {image}
Hi Das,

I can not see on the image which currency you are trading...

Dutchpips
Quoting Dutchpips
{quote} Hi Das, I can not see on the image which currency you are trading... Dutchpips
Hi Dutchpips
It was the usd/cad, daily pin bar at weekly support line in blue.
price came back down and broke lower.should have got out after bearish engulfing bar.
Will wiat and see what happens at monthley support line orange.
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Hi please have a look @ image attached and tell what is it.
The image has Price action from 6-9 october of USD/CAD and its not any of the pivots.
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Quoting Robinfxtrade
Hi please have a look @ image attached and tell what is it. The image has Price action from 6-9 october of USD/CAD and its not any of the pivots. {image}
Hi Robinfxtrade

very nice chart are you using fractals as s/r on 1 hour chart.
Quoting Robinfxtrade
Hi please have a look @ image attached and tell what is it. The image has Price action from 6-9 october of USD/CAD and its not any of the pivots. {image}
Did you program this or did you find it? Can you tell us where did you find it?
Plan the trade, trade the plan
It been some time, and no one posting. Anyone still trading like this ? the hard part is no to get stoped out

Best regards
Quoting jgadefelth
It been some time, and no one posting. Anyone still trading like this ? the hard part is no to get stoped out Best regards
I do

1. When you get SL, just patience, wait another oppotunity, take it
2. If another lossed? Follow 1

MM is the key

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Quoting jgadefelth
It been some time, and no one posting. Anyone still trading like this ? the hard part is no to get stoped out Best regards
Yes its can be hard, as with anything.

Yes I still trade using this, and 50% retracements, break of S/R and retrace entries, pin bars etc.

Hope all are doing well.

Cheers
Pharley
wow still page is alive.... read few pages and understood the method... have to practice it..
Success is a Journey Not a Destination....... kind regards ramzam
Quoting ramzam
wow still page is alive.... read few pages and understood the method... have to practice it..
HI mate - yes, have a good read through. Try to spot a good looking move on the weekly timeframe charts, then plan the trades. Trickiest bit is probably the first trade entry, then trying to stay in for the long haul.CheersPharley
Quoting pharley
{quote} HI mate - yes, have a good read through. Try to spot a good looking move on the weekly timeframe charts, then plan the trades. Trickiest bit is probably the first trade entry, then trying to stay in for the long haul.CheersPharley
In another thread i read that it was recomended for beginners to trade this pairs AU, EU, GU, AJ, EJ, UC Do you agree or do you like to add remove some what pairs is best for your strategy and easiest for beginners ?

Best regards
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