Support and Resistance Method - Pharley | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Support Resistance Switch Method - Trade with one line 91 replies

Pharley Simple system - Get your levels right for trading S/R 532 replies

bo7a method... method for GBP/JPY 205 replies

My method is based on Support and resistance. 5 replies

New support/resistance method - Help Needed! 5 replies

Attachments: Support and Resistance Method - Pharley
Exit Attachments

Support and Resistance Method - Pharley

  • #461
  • Aug 20, 2015 3:29am Aug 20, 2015 3:29am
EURJPY . solid reversal pattern on daily chart. I am long on yesterday Gmt candle close that shows a piercing, an US chart shows an engulf. weekly still bullish with and is on wave 3 with a huge projection to 150 area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_2015-08-20-09-16-59.png Size: 59 KB
Click to Enlarge Name: Screenshot_2015-08-20-09-24-30.png Size: 66 KB
  • #462
  • Aug 20, 2015 5:52am Aug 20, 2015 5:52am
Hey all,

I entered a small trade on EURGBD. In hindsight perhaps I got a little impatient. Anyone looking at this? Seems like an important zone


Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-08-20 12.47.33.png Size: 46 KB
  • #463
  • Aug 20, 2015 6:55am Aug 20, 2015 6:55am
Quoting relaxtrading
EURJPY . solid reversal pattern on daily chart. I am long on yesterday Gmt candle close that shows a piercing, an US chart shows an engulf. weekly still bullish with and is on wave 3 with a huge projection to 150 area. {image} {image}

I am also long on EURJPY, got in at about 137.50, things looking good so far. Not quite sure what we are aiming for though?
  • #464
  • Aug 20, 2015 7:45am Aug 20, 2015 7:45am
Quoting Mobber444
{quote} I am also long on EURJPY, got in at about 137.50, things looking good so far. Not quite sure what we are aiming for though?
Yeah looks like you should be ok
Truth hurts sometimes don't it
  • #465
  • Aug 20, 2015 8:32am Aug 20, 2015 8:32am
Quoting Mobber444
{quote} I am also long on EURJPY, got in at about 137.50, things looking good so far. Not quite sure what we are aiming for though?
First TP option will be 140.00 area. or main R 150.00. If price manage to break 140 and make a daily close above, price might try higher Supply zones. Idealy I will buy more lots if pprice continue up. News can be a pain, so make some room and keep Sl as big as possible. At the moment bullish trades still valid
  • #466
  • Aug 20, 2015 8:43am Aug 20, 2015 8:43am
Quoting tibovwh
Hey all, I entered a small trade on EURGBD. In hindsight perhaps I got a little impatient. Anyone looking at this? Seems like an important zone Best, {image}
EUGBP I think is a tricky one, it likes to make long retracement . I am still bearish on thi one. For a long trade better to wait for a strong pull back to a confluence demand area combined with some bullish pattern. my two cents.
  • #467
  • Aug 20, 2015 8:55am Aug 20, 2015 8:55am
Quoting relaxtrading
{quote} First TP option will be 140.00 area. or main R 150.00. If price manage to break 140 and make a daily close above, price might try higher Supply zones. Idealy I will buy more lots if pprice continue up. News can be a pain, so make some room and keep Sl as big as possible. At the moment bullish trades still valid

Thanks relaxtrading, I've got a resistance on 140.00 too(will add positions if it breaks and move SL), then a weaker resistance on 144.80(probably just add another position whether it breaks or not) and then my last resistance and final target will be the 149.30 area.
But yeah a lot of news tomorrow.

Glad I'm starting to make the right calls on my own with the help of this thread.

I'm also short on the AUDCHF, entered at 0.7170, 100pips up so far, ultimate target will be around 0.6940 area(not a lot of support stopping it).
  • #468
  • Aug 20, 2015 9:31am Aug 20, 2015 9:31am
Quoting Mobber444
{quote} Thanks relaxtrading, I've got a resistance on 140.00 too(will add positions if it breaks and move SL), then a weaker resistance on 144.80(probably just add another position whether it breaks or not) and then my last resistance and final target will be the 149.30 area. But yeah a lot of news tomorrow. Glad I'm starting to make the right calls on my own with the help of this thread. I'm also short on the AUDCHF, entered at 0.7170, 100pips up so far, ultimate target will be around 0.6940 area(not a lot of support stopping it).
AUDCHF bearish Target1 0.70 T2 0.6885. This is not my favorite pair. I am not trading exotic pairs due to the way that they behave, very unreliable.
With 100 pips positive I probably move Sl to BE. I don't see much room for a second lot if you planing to get out around 0.70
  • #469
  • Aug 20, 2015 10:13am Aug 20, 2015 10:13am
Quoting relaxtrading
{quote} EUGBP I think is a tricky one, it likes to make long retracement . I am still bearish on thi one. For a long trade better to wait for a strong pull back to a confluence demand area combined with some bullish pattern. my two cents.

Fortunatly, I am short What would you consider a good S/L to play a rejection of this trendline?

Best,
  • #470
  • Aug 20, 2015 10:48am Aug 20, 2015 10:48am
Quoting tibovwh
{quote} Fortunatly, I am short What would you consider a good S/L to play a rejection of this trendline? Best,
If I understand your question correctly, Stop loss for a short trade at least 0.7180, however now is attemping for second time so probably I would rather to be out BE or better, depend on your entry.
  • #471
  • Aug 20, 2015 7:47pm Aug 20, 2015 7:47pm
Hi all,

Sorry I've been a bit busy with some others things and also trading another method that I have while the charts were quieter. It's only what I consider scalping on 15m timeframes using S/R on the low timeframes. Always interesting to get pips while I'm waiting for clear, larger runs.

Cheers
  • #472
  • Aug 20, 2015 9:29pm Aug 20, 2015 9:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD.png Size: 76 KB


pharley , got it going , Worry about stop loss ,
  • #473
  • Aug 21, 2015 1:01am Aug 21, 2015 1:01am
Quoting relaxtrading
{quote} AUDCHF bearish Target1 0.70 T2 0.6885. This is not my favorite pair. I am not trading exotic pairs due to the way that they behave, very unreliable. With 100 pips positive I probably move Sl to BE. I don't see much room for a second lot if you planing to get out around 0.70

Decided to get out at 0.6980 with the actual target being 0.6940 area, about 190pips made so I'm happy. I usually don't trade any CHF pairs but were extremely positive about this trade. Think I'm sitting out for today as there is quite a lot of news releases.
  • #474
  • Aug 21, 2015 1:13am Aug 21, 2015 1:13am
Quoting terminator12
{image} pharley , got it going , Worry about stop loss ,

My opinion is you should move your stoploss up by at least 100pips and when market breaks the 1.1000 level move SL to current one and i think you are in the clear for at least another move of 100pips down. If the 1.090 level breaks then it could easily go to 1.0700 and potentially 1.06000.
  • #475
  • Aug 21, 2015 1:53am Aug 21, 2015 1:53am
USDCHF
currently sitting at confluence zone.
I am expecting it to take off.
Hope no crash
TP 965 and 972
  • #476
  • Aug 21, 2015 4:23am Aug 21, 2015 4:23am
Quoting pharley
Hi all, Sorry I've been a bit busy with some others things and also trading another method that I have while the charts were quieter. It's only what I consider scalping on 15m timeframes using S/R on the low timeframes. Always interesting to get pips while I'm waiting for clear, larger runs. Cheers
Hi pharley

What pairs do you use on the lower TFs ?

Cheers
  • #477
  • Aug 21, 2015 4:28am Aug 21, 2015 4:28am
Quoting Idkurv
USDCHF currently sitting at confluence zone. I am expecting it to take off. Hope no crash TP 965 and 972
Hi Idkurv

Have you a chart picture you could post to illustrate your trade ?

Cheers
  • #478
  • Aug 21, 2015 5:33am Aug 21, 2015 5:33am
Quoting Mobber444
{quote} Decided to get out at 0.6980 with the actual target being 0.6940 area, about 190pips made so I'm happy. I usually don't trade any CHF pairs but were extremely positive about this trade. Think I'm sitting out for today as there is quite a lot of news releases.
well done mate!👍
  • #479
  • Aug 21, 2015 5:41am Aug 21, 2015 5:41am
Quoting Mobber444
{quote} Decided to get out at 0.6980 with the actual target being 0.6940 area, about 190pips made so I'm happy. I usually don't trade any CHF pairs but were extremely positive about this trade. Think I'm sitting out for today as there is quite a lot of news releases.
Hi Mobber

No I'm not keen on Swiss pairs either especially as the SNB announced yesterday that they 'may' devalue the Franc soon by market intervention. And going by their history they could just jump in any time!! But congrats on the trade..
Cheers
  • #480
  • Aug 21, 2015 5:46am Aug 21, 2015 5:46am
Trade the GBPJPY short target 400 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_21-8.png Size: 141 KB
0 traders viewing now