Hi Happy, Thanks mate - well, if I start a thread about how I trade, I'd better be around to post on it and answer questions! I took a quick look at the GU - see chart below. It's currently in between a channel, and also near a resistance off the ...

Support and Resistance Method - Pharley

Hi Ralfy, Yep that sounds about right mate. Yes my trades are normally entered at the 4hr level after I see a good setup on the daily candle, which should be around major S/R levels based off the weekly. I must admit though, one of my very favourite ...

Support and Resistance Method - Pharley

Hi Gdi, Got my TP just under 144 - but anything can happen!

Support and Resistance Method - Pharley

Hi Happy, yeah more or less - not ideal, but it's ok.

Support and Resistance Method - Pharley

Hi Ralfy, Not the SR of the current week, but swing highs and lows from the weekly chart - see attached EURCAD weekly chart showing some major SR areas as an example. Cheers

Support and Resistance Method - Pharley

Thought I'd post an update of that eurjpy long trade I took - I did say I'd post the good, bad and ugly! Price is still hanging around that resistance turned to support. Been in the trade since I think last Thursday. I'll just leave it - either to ...

Support and Resistance Method - Pharley

Hi Wiz, Both the NZDUSD and AUDCAD seems to be in a consolidating phase - well, not moving anyway! I'd leave them alone until they get going. Plus on the AudCad there doesn't seem to be too much room before a target - certainly under 1:2 risk ...

Support and Resistance Method - Pharley

I forgot an important one - after the second trade and price was moving upwards, I moved SL from T1 and T2 to this position:

Support and Resistance Method - Pharley

Hi again, Here are some pics to try and show where I put SL as I entered trades.

Support and Resistance Method - Pharley

Hi mate, At the moment even though I'm in a eurjpy trade, I haven't looked too closely at what's happening on the charts. I probably will after I've posted a couple of things. I did have a look yesterday (normally day for analysing charts), but then ...

Support and Resistance Method - Pharley

HI Alamhakim, Please see attached 2 pics - the first one is a 4hr - going from bottom to top, my entries are at the yellow lines and there are 4 of them. On the 1 hr chart you can see the red line at top where I exited the trade. A 1 hour candle ...

Support and Resistance Method - Pharley

Hi T12, No one knows mate. All we can do is analyse what's on the charts and trade what we see. Anything is possible.

Support and Resistance Method - Pharley

Hi Dutch, Please see pics below. This is how I would have traded it - note that T1 gets quite a few pips, but T2 and T3 loses, with all SL being taken out when price comes back. (Also note that this is always difficult to be objective with hindsight ...

Support and Resistance Method - Pharley

Hi Dutch, Thanks for the questions mate - here's my thoughts: I attach pics of euraud weekly, daily, 4hr charts. On the weekly I draw the S/R areas - have a look at the first pic on the weekly - see the support line formed at 1.38577 - this is why I ...

Support and Resistance Method - Pharley

Hi - yes I leave trades alone to hit SL or move away in my favour. I tend not to interfere with them once underway.

Support and Resistance Method - Pharley

Hi all, oooh questions again! I like them!. Here we go - Thanks for your posts Steve. Its terrific to have the contribution and explanation of what youre looking at from the Supply Demand (S/D) point of view. I read quite a bit of differing views on ...

Support and Resistance Method - Pharley

Risk - I normally risk 3% to 6%, but sometimes up to 8% when I'm trading (always half on the first trade), but you could use 1% and 2% or 3% for example. The good runs I'm looking for will still make around 20% with the lower risk figures. The idea ...

Support and Resistance Method - Pharley

Hi nogames, Thanks for the question. I don't normally trade off the 1 hr charts, but have posted some things below - a weekly, 4hr and 1 hr chart. You can see the lines I've drawn on those for major S/R - I can't see really where your lines are ...

Support and Resistance Method - Pharley

Hi Rover - yeah hanging, hanging. Not much happening for me on the charts just yet. Mind you I only normally do some analysis tomorrow (Sunday) and haven't checked through them yet. I'm hanging out to see a good channel trade again - oh I like those! ...

Support and Resistance Method - Pharley

Hi, Yes that USDCAD is hanging around a resistance turned support off way back on the monthly chart at 1.306 - could be interesting to watch if it breaks away northwards!

Support and Resistance Method - Pharley