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Support and Resistance Method - Pharley

  • #641
  • Edited 2:00am Sep 30, 2015 1:29am | Edited 2:00am
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 :nerd:. 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!)
  • #642
  • Sep 30, 2015 1:35am Sep 30, 2015 1:35am
Where is Pharley i miss him and his knowledge hope he is doing well.


Best regards
  • #643
  • Edited 9:25am Oct 1, 2015 9:15am | Edited 9:25am
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!
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_01102015_001_001.png Size: 62 KB
  • #644
  • Oct 1, 2015 10:29am Oct 1, 2015 10:29am
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
Attached Image (click to enlarge)
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  • #645
  • Oct 1, 2015 4:37pm Oct 1, 2015 4:37pm
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!
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_011015_2nd_entry.png Size: 58 KB
  • #646
  • Oct 2, 2015 8:25am Oct 2, 2015 8:25am
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.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_021015_2nd_entry_SL.png Size: 46 KB
  • #647
  • Oct 3, 2015 6:33am Oct 3, 2015 6:33am
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!
  • #648
  • Oct 7, 2015 2:31pm Oct 7, 2015 2:31pm
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
Attached Image (click to enlarge)
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Attached Image
  • #649
  • Oct 9, 2015 4:18am Oct 9, 2015 4:18am
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
  • #650
  • Oct 9, 2015 8:19am Oct 9, 2015 8:19am
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
  • #651
  • Oct 9, 2015 1:53pm Oct 9, 2015 1:53pm
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.
Attached Image (click to enlarge)
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  • #652
  • Oct 9, 2015 2:18pm Oct 9, 2015 2:18pm
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.
Attached Image (click to enlarge)
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  • #653
  • Oct 9, 2015 2:44pm Oct 9, 2015 2:44pm
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.
  • #654
  • Oct 13, 2015 11:03am Oct 13, 2015 11:03am
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?
  • #655
  • Dec 8, 2015 9:33am Dec 8, 2015 9:33am
It been some time, and no one posting. Anyone still trading like this ? the hard part is no to get stoped out

Best regards
  • #656
  • Dec 15, 2015 6:55am Dec 15, 2015 6:55am
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

Attached Image (click to enlarge)
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  • #657
  • May 31, 2016 9:30pm May 31, 2016 9:30pm
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
  • #658
  • Jun 24, 2016 11:49pm Jun 24, 2016 11:49pm
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
  • #659
  • Jun 25, 2016 2:51am Jun 25, 2016 2:51am
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
  • #660
  • Jun 25, 2016 4:12am Jun 25, 2016 4:12am
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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