HI Dutchips, Ah I see. It's good you got some pips out of that! I think that if you can start to trade like that, it's like anything - practice and you'll get better at it. Soon you'll be running up hundreds of pips! What I can say about this way of ...

Support and Resistance Method - Pharley

Hi - no, that's the first entry already taken.

Support and Resistance Method - Pharley

Fingers crossed mate - plenty of pips on a run like that!

Support and Resistance Method - Pharley

Hi Relax, Thanks mate and I see what you're saying - on the daily chart that could look a bit tight, but I'm taking cues from the weekly. See chart below. You can see a weekly trend line coming down and a strong weekly candle up crossing over the ...

Support and Resistance Method - Pharley

Good point Relax, Yes it's always good to think of the risk. It really depends on how you want to manage them. I tend to stop entering trades if I can't get at least 1:2, risk:reward out of it and I try to get all trades SL to BE or profits locked ...

Support and Resistance Method - Pharley

Hi Rover and thanks, Actually price moved that quickly that I moved the TP up slightly to gain another 25 pips on each trade. Not always recommended, but I was in front of the charts and was able to do that - as I moved them I also moved up all the ...

Support and Resistance Method - Pharley

Hi all, Many thanks for your comments - that run turned out very well and or sure there's luck involved. They're not all like that, but at least we can be in position to take advantage of them when they go. Dutch - how come only about half of that - ...

Support and Resistance Method - Pharley

Hi Happy, Thanks - yes it was a nice run of a few hundred pips. I'm always on the look out for those types of set ups. Normally I risk about 3% or 4% on the first trade then 6% to 8% on the remainder. I add to positions when in profit - normally ...

Support and Resistance Method - Pharley

HI mate, Thanks - hope it provides some inspiration and knocks some doubters on the head about what can be done. Yes I'll have a slow look around the charts and see if anything looks interesting. Otherwise I'm in no hurry - I can wait for the set ...

Support and Resistance Method - Pharley

Hi Rtm, Just finished a live trade example. Cheers

Support and Resistance Method - Pharley

Hi all, Ok the run is over after it hit all my TP targets. This morning the euraud went up fast, and with all my trades at BE or locking in profit I bought a further 1 trade until it went up to TP. Results are: Overall pip move during the run from ...

Support and Resistance Method - Pharley

Hi Trading Kid, You're welcome to have a look at this thread which is describing how I go about trading off major S/R areas. I've currently got a live trade example on the go and posting charts as I move through trades. url Cheers

holy grail support & resistance?

Interesting pin bar on the 4hr that I don't like - see chart below with minor resistance shown. So my options are to cash out now all my trades or keep it going to play out. Looking at the 1 day chart it had a great move up so I'm not surprised to ...

Support and Resistance Method - Pharley

That's it mate - you're exactly right. I wasn't really aware of the news coming along - just traded what I saw. What happens after that is anyone's guess. So there is the luck piece displayed as a good example. What we're trying to do is put ...

Support and Resistance Method - Pharley

Hi Dutch, Yes it's always a problem when work gets in the way of trading! Still, you're taking the right approach by looking at the daily charts and trading mainly off those and perhaps the 4hr as well. My SL for the third entry (not a great one I ...

Support and Resistance Method - Pharley

I like that one Wiz - coming down to channel support, probably at around 124.50 ? in a general uptrend. Definitely one to watch out for.

Support and Resistance Method - Pharley

Hi Wiz, Yeah, perhaps wait for a breakout and retrace before pulling any triggers - keep your eye on it.

Support and Resistance Method - Pharley

Hi T12, Remember to always look at the bigger picture - see chart below - it's a 4hr chart showing a channel. On the daily chart you can see the channel formed. On this 4hr chart then I put the fib from the top to swing low, then I can see a 50% ...

Support and Resistance Method - Pharley

Hi Rover, That's great to hear and for sure you're all welcome to dive in with comments, set ups, questions. You're right about believing in what you're doing. If you can learn a good, solid method of trading and look at the big picture in terms of ...

Support and Resistance Method - Pharley

Trade 3 - not really a pullback on the 4hr, but movement on the 15m - yes I don't normally go to 15m, but it's moving up quickly. Plus, both T1 and T2 are safe and in profit so I had zero risk. Also, if price comes back to hit stops for everything, ...

Support and Resistance Method - Pharley