Hi Jebataro, Yes I think it would, as it's just based on what price is doing around support, resistance. A quick look at the gold chart shows all the same type of movements to and fro S/R areas. Same goes for crude oil as well. A quick look at that ...

Support and Resistance Method - Pharley

Hi Prsj, Mate, 10 to 15% a month is terrific! If you can keep that going you'll be set for the future. When you're in a run, do you enter multiple times or just take the one trade? You'll see from how I trade I take a few losses that are small in ...

Support and Resistance Method - Pharley

One of the things I am pleased to see on the analysis side of things is that the Risk of Ruin is very low for busting out the account. Currently only a 0.19% risk of losing 50% and less than 0.01% of losing everything. The others at a 4% chance of ...

Support and Resistance Method - Pharley

Yep, no indicators also works for me.

Surfing the Channel

Hi, Well as I changed to a new broker in July, I thought I'd create a MyFXBook thing. If nothing else, it will keep me honest! I've already gone through the analysis and can see where there are weak spots in my trading, so that's good news. Just the ...

Support and Resistance Method - Pharley

Yes, I use a stop loss on every trade. Distance is dependant upon my risk profile.

Do you use stoploss?

1. Risk Management 2. Support and resistance (or supply demand) areas 3. Discipline 4. Patience 5. Trading plan/strategy 6. Trade your plan and don't deviate

the most important things in forex

Hi Dutch, Looking good mate. If you have a look at the first pic below you can see where I've got a SR line - it have previously been resistance, then broke through then eventually came back and acted as support. I'd be putting my stops just above ...

Support and Resistance Method - Pharley

Hi - I've moved up SL on T1 to entry point so this is no longer at risk.

Support and Resistance Method - Pharley

Hi Banksia, Yes for sure it could go either way - especially with the markets being like they are! Anyway, I've entered 1 trade and placed several pending orders - you can see on the chart below. The actual entry points for further trades are ...

Support and Resistance Method - Pharley

Looks interesting if it takes off northwards. 300 to 400 pips potential run - let's hope!:

Support and Resistance Method - Pharley

Hi Yamini, That's awesome! Terrific result! There's always an element of luck on those type of fast moving runs whether it's we were trading a particular pair at the time, managed to spot a good run, nothing stopped price moving in the right ...

Support and Resistance Method - Pharley

Hi Mobber, Yeah markets are a bit funny at the moment. Went from not much movement to explosive! All I can suggest is to take the best set ups you can. This is where a picture library of your favourite set ups comes in handy. I use mine - I refer to ...

Support and Resistance Method - Pharley

Hi there, I like the look of that rising support line you have and it seems to be in a bit of a channel there. I'll watch it as well - could bounce away from support up to the top of the channel again. Here's hoping it does and there are quite a few ...

Support and Resistance Method - Pharley

Hi InnerG, Great you made some good pips last night! Welcome! Cheers

Support and Resistance Method - Pharley

Hi Happy - normally the direction is taken off whichever the price is bouncing off. Meaning if price had gone up to a good resistance level, then come down to support, I'm expecting price to travel upwards again. Great on horizontal levels and ...

Support and Resistance Method - Pharley

Hi all, yes some interesting runs - almost no time to look at proper PA set ups as price moved so fast. At least with some decent PA analysis already done on the charts, it puts you in a good position to take advantage of any fast moving runs. Did ...

Support and Resistance Method - Pharley

Oh my goodness. I was trading euraud long all today and it's gone up 750 pips as I speak. I hope everyone got a good load of pips on many pairs. Good grief, I made a shed load today! A terrific day!

Support and Resistance Method - Pharley

Yep, I moved away from MT4 and market makers brokers a while ago - my results are much better now I'm using and ECN broker and cTrader platform. Stop loss hunting does happen with market makers, believe me. I've had it happen to myself with previous ...

Exposing MT4 Scams - Brokers Plugin!

Hi all, Took 3 x 1 lot trades this morning on EURAUD - didn't have quite enough time to take all the pics I wanted, but 1) trade 1 entry shown on first pic ( I hadn't set TP at that point so it's not shown). Entry taken off retrace on 15m chart. 2) ...

Support and Resistance Method - Pharley