Support and Resistance Method - Pharley | Page 32 | 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

  • #621
  • Sep 21, 2015 12:08pm Sep 21, 2015 12:08pm
Hello Pharley.. I must say i'm really happy i stumbled on your thread. its been an eye opener for me. Another strategy added to my trading arsenal.
Please keep the live trade examples coming. i'll also be sharing tips and materials ive gathered over the years that may be of help to fellow traders on this thread. Once again Thank you for being generous enough to share your strategy with us. God bless you.
As a man thinketh in his heart, so is he.
  • #622
  • Sep 22, 2015 7:51am Sep 22, 2015 7:51am
Nice trade on the AUDJPY 4 entries yet.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY_1Hr_22-9-2015__4_entry.png Size: 82 KB
  • #623
  • Sep 22, 2015 12:39pm Sep 22, 2015 12:39pm
Hi Pharley,
many thanks for your refreshing and stimulatory thread. Having traded PA and SUP/RES in former times inspired by the James16 thread I went to other approaches
cause it didn`t fit to my personality (need action, daily trades and quick results) though knowing that PA is - to my opinion- the best method to beat the markets.
Having minimized my live account again I now learned from your posts that its possible to use PA almost daily with respectable efforts by building pyramids of trades if in a run....Your logical concept gives me the hope to build up my mini-account again....
Hope to be able to contribute to this thread if wished.
Happy trading to all
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-50%.png Size: 90 KB
Have a nice day
  • #624
  • Edited 12:54pm Sep 22, 2015 12:51pm | Edited 12:54pm
Quoting Dutchpips
Nice trade on the AUDJPY 4 entries yet. {image}
Hi dutch,
nice trades but be cautious. I learned to only take entries if there are several reasons. Its better to have a "story" around the chart constellation when entering trades. Just my 2 cents.
Attached Image (click to enlarge)
Click to Enlarge Name: dutchpips.png Size: 103 KB
Have a nice day
  • #625
  • Sep 24, 2015 2:10am Sep 24, 2015 2:10am
Monthly chart EURAUD
Oscilator is OS, so I will wait ...
Attached Image (click to enlarge)
Click to Enlarge Name: euaud m.gif Size: 185 KB
  • #626
  • Sep 24, 2015 2:49am Sep 24, 2015 2:49am
GBPUSD Dayly
Almost 500 pip range...
The big question: are we going to bounce below again?
I will be specially looking for a stop run...and some bullish candle after...
At the moment, all those stops sitting there, work as an "magnet" for the big boys...relentlessly pushing in that direction...wonder how many retailer newbies are on their knees praying....
Attached Image (click to enlarge)
Click to Enlarge Name: g.PNG Size: 33 KB
  • #627
  • Sep 24, 2015 10:03am Sep 24, 2015 10:03am
Quoting doerpn
{quote} Hi dutch, nice trades but be cautious. I learned to only take entries if there are several reasons. Its better to have a "story" around the chart constellation when entering trades. Just my 2 cents. {image}
I agree with with you bro. The 200 EMA is one indicator to really watch. many traders make trading decisions around that level which then makes it a self fulfilling prophecy.
As a man thinketh in his heart, so is he.
  • #628
  • Sep 24, 2015 12:28pm Sep 24, 2015 12:28pm
Hi guys,
this method seems to be fine....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP-H1.png Size: 29 KB
Click to Enlarge Name: USD 30.png Size: 28 KB
Have a nice day
  • #629
  • Sep 24, 2015 4:34pm Sep 24, 2015 4:34pm
Thanks Pharley for the pdf it was very good to read.

Do you have any substitute for this link, that now seems to be broken ? https://www.beatfxmarket.com/forex-s...istance-lines/


Best regards
  • #630
  • Sep 25, 2015 12:38am Sep 25, 2015 12:38am
Quoting cuchuflito
GBPUSD Dayly Almost 500 pip range... The big question: are we going to bounce below again? I will be specially looking for a stop run...and some bullish candle after... At the moment, all those stops sitting there, work as an "magnet" for the big boys...relentlessly pushing in that direction...wonder how many retailer newbies are on their knees praying.... {image}
Hi Cuchuflito,
I keep an eye on GU too, yesterday candle look like a doji, it can be nice.
Otherwise, I look GJ too (look like pin bar on trendline support), and maybe I can take a better signal by knowing USD or JPY which is stronger (see UJ, it make a triangle, so interesting!)
But I think I should wait more, today is friday, let action next week.
This is only my view.
Have a good time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU D1.png Size: 19 KB
Click to Enlarge Name: GJ D1.png Size: 25 KB
Click to Enlarge Name: UJ D1.png Size: 20 KB
  • #631
  • Sep 25, 2015 2:38am Sep 25, 2015 2:38am
Quoting net1309
{quote} Hi Cuchuflito, I keep an eye on GU too, yesterday candle look like a doji, it can be nice. Otherwise, I look GJ too (look like pin bar on trendline support), and maybe I can take a better signal by knowing USD or JPY which is stronger (see UJ, it make a triangle, so interesting!) But I think I should wait more, today is friday, let action next week. This is only my view. Have a good time {image} {image} {image}

Check the level, and how it was stopped ran before...
Stop runs, since created and executed by the Big Banks (liquidity pools for them),are followed by strong moves, cause they are behind the manipulation...
Need to work for a confirmation, if the stop run happens, like a pin bar closing above the level, and above the body of the running candle...if it fails, then the level will become a resistance to go short later...
Attached Image (click to enlarge)
Click to Enlarge Name: g.PNG Size: 33 KB
  • #632
  • Sep 25, 2015 1:28pm Sep 25, 2015 1:28pm
Quoting pharley
If anyone spots something moving to SR areas on the monthly, weekly, daily charts, let us know - many pairs of eyes are better than just 1! I normally try to do some analysis on the weekend to get ready for the trading week if I see something. However, with a wife and 3 kids and a fat lazy dog, sometimes getting free time isn't an option! CHeers

The blue lines on these charts, are mostly taken from the monthly ... majour S/R...
I´m just observing them...will study them on the weekend...see what people in the thread come up with as to trading opportunities...

(BTW: Thanks Pharley,...thanks a lot!!
I read a lot about adding to winners, definitely my style...exactly the opposite as to scaling out...which works negatively on your bottom line.
The golden rule to trading:" keep winners big, loosers small."
Scaling out, makes sure that your big winners will be half load, but your loosers are full loaded against you.
With your method: the big winners are massive...patience is the key.)

Nice weekend to everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADWeekly.png Size: 40 KB
  • #633
  • Sep 25, 2015 1:30pm Sep 25, 2015 1:30pm
Next
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDCADDaily.png Size: 25 KB
Click to Enlarge Name: GBPCADWeekly.png Size: 27 KB
Click to Enlarge Name: NZDJPYDaily.png Size: 24 KB
  • #634
  • Sep 25, 2015 1:33pm Sep 25, 2015 1:33pm
Remember those blue lines are taken from the monthly!:nerd:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 28 KB
Click to Enlarge Name: GBPJPYDaily.png Size: 34 KB
  • #635
  • Sep 25, 2015 1:35pm Sep 25, 2015 1:35pm
Finally
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYWeekly.png Size: 31 KB
  • #636
  • Sep 26, 2015 1:47am Sep 26, 2015 1:47am
Between the bottom line (weekly Support), and the top (monthly), theres about 600 pips if you take the last pin bar long...
I bet the Big Boys will run stops, either the bottom first, or the top first...or both....The top didnt get ran yet...only approached...not enough..cause probably now theres many people short, with a stop up there...waiting "sitting ducks"..

BTW: if you look carefully, after the first run down from the top, there was a clear push up, to enteice retailers long, they got stopped out already...thats a bullish sign in my book.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 26 KB
  • #637
  • Sep 26, 2015 10:11am Sep 26, 2015 10:11am
Quoting cuchuflito
Between the bottom line (weekly Support), and the top (monthly), theres about 600 pips if you take the last pin bar long... I bet the Big Boys will run stops, either the bottom first, or the top first...or both....The top didnt get ran yet...only approached...not enough..cause probably now theres many people short, with a stop up there...waiting "sitting ducks".. BTW: if you look carefully, after the first run down from the top, there was a clear push up, to enteice retailers long, they got stopped out already...thats a bullish sign in my book....
Hi cuchuflito;

It's all about Order Flow and who has control of the Market. Find where the losing Traders are going to have their Stop Losses and Trade into them and you will always have Market Momentum at your back.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26th Sep 15 EUR:CAD W1 Chart.png Size: 348 KB
Click to Enlarge Name: 26th Sept 15 EUR:CAD D1 Chart.png Size: 127 KB
  • #638
  • Sep 27, 2015 3:09am Sep 27, 2015 3:09am
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?
The only system that will work is one designed by and for yourself.
  • #639
  • Sep 30, 2015 1:14am Sep 30, 2015 1:14am
Quoting doerpn
{quote} Hi dutch, nice trades but be cautious. I learned to only take entries if there are several reasons. Its better to have a "story" around the chart constellation when entering trades. Just my 2 cents. {image}
Hi Doerpn, thanks for your reaction. I was already in the trade on the 2nd break through the ema 200. There was some price action on another timeframe and the whole trend was going down. I thought it was a probability of 70% it would break the 200ema.

Dutch
  • #640
  • Sep 30, 2015 1:16am Sep 30, 2015 1:16am
Nice setup on the EURAUD. Pin yesterday on the daily.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_290915_entry.png Size: 75 KB
3 traders viewing now