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

  • #501
  • Dec 25, 2016 10:26am Dec 25, 2016 10:26am
Hey guys! I am new to this forum but I have read this thread and I just love it. I know this is might not be the right tread for this question but please bare with me, when you have a trade open for several days you have to pay for it or you make more money depending which currency have higher interest. I have tried to understand how much it costs but my broker didn't really get thru to me. Lets say I choose to go short and I take a position with 1$ /pip with a pair where I have to pay interest, How much does it cost per day?? I hope I make sense
Best regards
Peter
  • #502
  • Dec 25, 2016 7:18pm Dec 25, 2016 7:18pm
Hello Ramzam,

compliments of the season.

please i need your help with an indicator that help change the candlestick color (e.g. Green) when the MACD crosses the signal line upward and also change the candlestick color to (e.g. red) when the MACD crosses the signal line downward. the grey color is when the MACD line is in conflict with the histogram.
SEE THE ATTACHED SCREEN SHOT:

I COUNT ON YOUR SWIFT RESPONSE, GOD BLESS.

Regards.
Attached Image (click to enlarge)
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  • #503
  • Dec 25, 2016 10:18pm Dec 25, 2016 10:18pm
Quoting ekenekano
Hello Ramzam, compliments of the season. please i need your help with an indicator that help change the candlestick color (e.g. Green) when the MACD crosses the signal line upward and also change the candlestick color to (e.g. red) when the MACD crosses the signal line downward. the grey color is when the MACD line is in conflict with the histogram. SEE THE ATTACHED SCREEN SHOT: I COUNT ON YOUR SWIFT RESPONSE, GOD BLESS. Regards. {image}
nice idea .. i will try my best.
Success is a Journey Not a Destination....... kind regards ramzam
  • #504
  • Dec 26, 2016 4:41am Dec 26, 2016 4:41am
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 26 KB


I've been looking for best trending pairs on weekly, daily and 4 hour charts. My favorite is the NZDJPY pair, but I think CADJPY and AUDJPY also look promising. - I wish you all the best of luck for the next trading year.
  • #505
  • Dec 26, 2016 4:48am Dec 26, 2016 4:48am
I'm up about 10% using a risk of 2.5% on the cable in the last couple of weeks. Haven't locked the last position in yet though. Mix of 4hr and 1hr trades, all still open targeting about 1.215ish. Reckon that's pretty good for this time of year.
  • #506
  • Dec 26, 2016 1:56pm Dec 26, 2016 1:56pm
Quoting seatac
{image} I've been looking for best trending pairs on weekly, daily and 4 hour charts. My favorite is the NZDJPY pair, but I think CADJPY and AUDJPY also look promising. - I wish you all the best of luck for the next trading year.

My chart looks completely different from yours, is that because we are on different time zones?? I find pin bars on yours that does not show on mine for example. I know carts can diffe somewhat but I never realized they could look like this
Attached Image (click to enlarge)
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  • #507
  • Dec 26, 2016 8:15pm Dec 26, 2016 8:15pm
Hi PeterSWE. My broker uses New York close candles. Your broker obviously uses a different one. A New York close price feed is basically now the industry standard. Still, I cannot recommend those guys who got me out of an NZDJPY trade lately using a 38 pips spread at NY open. The mentioned trade would have yielded me over 100 pips. They've only reimbursed my initial loss when I warned them about the possible consequences an FCA investigation would mean for them. - I've set up a NZDJPY 4h sell limit order @ 81.00
Attached Image (click to enlarge)
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  • #508
  • Dec 27, 2016 3:26am Dec 27, 2016 3:26am
Seatec, I never set a sell order, so I missed the entry. But it seems you got it right on the highest pip Nicely played Sir!!!
  • #509
  • Dec 29, 2016 6:43am Dec 29, 2016 6:43am
I don't know if anyone is interested in FTSE 100 but it is closing in on it's all time high. Might be good for reversals or breaks.
Attached Image (click to enlarge)
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  • #510
  • Dec 29, 2016 2:00pm Dec 29, 2016 2:00pm
Quoting ramzam
{quote} nice idea .. i will try my best.
Hi Ramzam,

Please any update on the said indicator?

please reply.

Warm regards.
  • #511
  • Dec 29, 2016 11:38pm Dec 29, 2016 11:38pm
Quoting seatac
Thank you very much ramzam for your great Christmas wishes. May the Lord God bless us all. - Having found Pharley and this excellent thread is already a great blessing for us prospective forex traders. His S/R methods described in his two threads are rather straightforward, and work well in a trending market. - Pharley, I'd like to thank You for all your hard work you've put in this year. Your inputs are greatly appreciated. You've opened a new horizon for us. The simplicity of your methods give us a real potential so that almost anyone may become...
Thanks Seatac - hope everyone enjoys a good break and has a terrific 2017! I haven't traded for a bit now - I normally take a break from it during this period and get going again come the new year.

Trust those SR areas - the majority work and work well. For sure there will be some losses, so keep risk to a minimum where you can. But what are we looking for? A good solid SR area then a good signal - pin bar, 2 bar reversal, 50 % retracement inside and outside bars. Not too complex - just keep it nice and simple!

CHeers
Pharley
  • #512
  • Jan 6, 2017 1:42pm Jan 6, 2017 1:42pm
Hi guys,

I've been following Pharleys threads for some time, although I do not comment on it. I must say that I'm very impressed with his method of trading and have had a very nice run using it. I hope you, Pharley, is ok with the following suggestion

Would there be an interest among you guys in creating a LIVE group that gets together every day, or however it suits each and every individual. A group where we point out opportunities to each other and possible pairs that are in our liking to trade Pharleys method as well as discussion and increase our understanding. We would support each other and make us better at what we are doing.
We could set up a dedicated chat room which we could use for it if interested. We could also use Facebook if that is more desirable.
One thing that needs to be absolutely clear that this group would ONLY be for those that follow his method as he describes it. Clear and simple.
I'm based in the UK and most days I trade the Europe hours, 0700 – 1200 GMT, although I do on occasion trade other hours I can see this kind of group being active almost 24/5 as some of you are based in Asia and USA.
Even though there are only 2 or 3 online at the same time it would be nice to have someone that has the same mindset and is trading by the same method sitting next to you, on the screen

Let me know what you think about it. Time to make some dollars
  • #513
  • Jan 6, 2017 10:01pm Jan 6, 2017 10:01pm
Quoting theviking
Hi guys, I've been following Pharleys threads for some time, although I do not comment on it. I must say that I'm very impressed with his method of trading and have had a very nice run using it. I hope you, Pharley, is ok with the following suggestion Would there be an interest among you guys in creating a LIVE group that gets together every day, or however it suits each and every individual. A group where we point out opportunities to each other and possible pairs that are in our liking to trade Pharleys method as well as discussion and...
Hi Viking and thanks for your comments. Sure if you want to set up any group etc, just go for it. I'm in Asia so my availability time might not be as good as some. Could always post any ideas on here - screen shot of a potential set up/trade. It's often beneficial to have multiple sets of eyes looking across multiple pairs!

Cheers
Pharley
  • #514
  • Jan 7, 2017 2:21am Jan 7, 2017 2:21am
Quoting ekenekano
{quote} Hi Ramzam, Please any update on the said indicator? please reply. Warm regards.
Hi Ramzam,

Compliment of the season.

i trust you are well and doing great.

Please can you help point me to the right direction where i can get the said indicator.

The indicator paint the price bar with the MACD readings (see attached screen shot once again)
Attached Image
  • #515
  • Edited 8:16am Jan 7, 2017 5:56am | Edited 8:16am
Quoting pharley
{quote} Hi Viking and thanks for your comments. Sure if you want to set up any group etc, just go for it. I'm in Asia so my availability time might not be as good as some. Could always post any ideas on here - screen shot of a potential set up/trade. It's often beneficial to have multiple sets of eyes looking across multiple pairs! Cheers Pharley
Hi Pharley, I totally agree to the benefit of multiple sets of eyes. We could use this thread but the thinking behind my idea of doing it in a group chat is we could make sure only those who follow your great method are participating. No trolls or different ideas, as sometimes happens in open forums. It could also be done through Facebook group.

And although I'm located in UK there are some that are trading Asia hours as you and I'm sure even more will do if you are posting ideas during Asia hours
Cheers...
  • #516
  • Jan 10, 2017 9:58pm Jan 10, 2017 9:58pm
Hi Pharley, I really like your way of trading and finding levels. I suggest that we have levels to watch for different pairs on weekly basis. Can it be done? I can try to start. It would be good for learning
  • #517
  • Jan 11, 2017 4:40am Jan 11, 2017 4:40am
Quoting brink
Hi Pharley, I really like your way of trading and finding levels. I suggest that we have levels to watch for different pairs on weekly basis. Can it be done? I can try to start. It would be good for learning
This going to be interesting .

Thank you for your effort.

What time do you want to do the SNR Level ?

Arjun
Let all the living things live blissfully
  • #518
  • Jan 11, 2017 4:46am Jan 11, 2017 4:46am
Quoting Arjun-LE1
{quote} This going to be interesting . Thank you for your effort. What time do you want to do the SNR Level ? Arjun

Like in this Live Trade Level I've marked

This is very profitable level to trade from with Zero Float ( Zero Drawdown)

Please share your thought.

Sincerely

Arjun
Attached Image (click to enlarge)
Click to Enlarge Name: Level.jpg Size: 101 KB
Let all the living things live blissfully
  • #519
  • Jan 12, 2017 1:46am Jan 12, 2017 1:46am
EURUSD H1 BUY:

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (01-12-2017 0844).png Size: 52 KB
  • #520
  • Jan 14, 2017 4:55am Jan 14, 2017 4:55am
U look for lower lows and higher highs on daily but recently there were weekly engulfings on gj and also on cadjpy -actually it was recently testing recent extremes.
anyway all im saying that for me perfect start is weekly engulfing. then wait few days for a pullback with 30 pip sl.


And after a day set sl to be and close trade if it is not in profit or around zero profit at the end of the session.
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