Good trade - this is how I also enter, well one of my methods. Tried and tested way to get some good pips! (EurAud 4hr chart shown)

james16 Chart Thread

Hi - there are lots of different strategies you can try. The key to them all is yourself and discipline. If you want to check out some of them on the strategies section you'll find lot's there. I have one in there as well url but it really comes ...

Desperate to learn a new strategy

Hi Alamhakim, I wasn't able to get the retrace from the daily pin up then back to support (away form charts). But then I saw it bounce again from support and took it at the 50% level. For the next entry - no. I have no idea yet where I will enter. ...

Support and Resistance Method - Pharley

Hi Lorraine, The answers above are relevant to this but I also wanted to add something. When I found out that gaining a lot of pips was possible, I focussed on how to do that. The money comes later - what people should focus on is how to spot good ...

Support and Resistance Method - Pharley

Thanks for the questions and comments. Also thanks to StevePatt for getting involved as well and helping out. LorraineP - Yes I also used to try and get 20 pips a day using increased lot sizes and too much risk (for me). I wanted a way to gain big ...

Support and Resistance Method - Pharley

Hi all, Well I took the 50% retracement off support on the euraud and it's started moving up. I'll see how it goes and look for further entries (EURAUD 4hr chart):

Support and Resistance Method - Pharley

Hi Subaal, For me, a valid entry would have been that 50% retrace, or wait until the 4hr closes above yesterday's high. Looking at the chart now, I'd wait until price moves back up to the 50% retrace point and probably enter there. The first trade I ...

Support and Resistance Method - Pharley

Ah you mean like this one below - yes it would be fine. You don't win them all although this one wouldn't have hit SL yet. but it's a valid trade off rising support (channel support).

Support and Resistance Method - Pharley

Breaking that 1d and 4hr chart of eudaud down to a 1hour timeframe for an entry - (for those who want to look for trades on the shorter timeframe). You can still use the larger timeframes to target these sort of entries. Nice pin at resistance ...

Support and Resistance Method - Pharley

Here's why I love trading channels as part of all this - look at this chart. It looks a bit confusing, but it shows a channel, retracements to 50% plus retracing to support, pin bars, inside bars. Then look at the 4hr chart - so many entry ...

Support and Resistance Method - Pharley

Hi Subaal, I'm not sure which you're talking about. Also I don't use EAs with trading - tried them, along with a zillion indicators and they're just not for me. Cheers

Support and Resistance Method - Pharley

It's always easier somehow to draw the SR areas on the larger timeframes. They don't have to be exact - hell, mine aren't. But it reminds me when I'm looking at charts to keep these areas in mind. I leave the lines drawn on for ages - until they ...

Support and Resistance Method - Pharley

Worth keeping your eye on USDCHF as well in case it starts to move up away from the current channel.

Support and Resistance Method - Pharley

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Support and Resistance Method - Pharley

OK some interesting things to look out for this week:

Support and Resistance Method - Pharley

Hi Steve & Dutchpips, Thanks for the post Steve - that's exactly right Dutchpips. It's always important to look at the higher timeframes and take your cues from them. I hadn't really seen the GBPAUD coming down a bit - I tend to have a few days away ...

Support and Resistance Method - Pharley

Hi Rover, and welcome. I don't really take account of any fundamentals. Any good news is in the charts. Any bad news is in the charts. So I'm not really bothered about the news - I listen to it, read it. Can't help it, hence above where I say the ...

Support and Resistance Method - Pharley

Well as we know - no one knows where price will go! So manage your risk. There's quite a it of action around 2.0500 then then the important level of 2.0000. But be careful with it - the Aussie Feb bank is saying they expect AUD to keep going down ...

Support and Resistance Method - Pharley

Hi - yes that looks fine. Remember to check back in time for any higher resistance area that's higher than on your chart. Probably zoom out on the weekly or go to the monthly. Cheers

Support and Resistance Method - Pharley

Hi T12, THanks for the post. Yes I have SR areas about the same place - could be interesting to keep an eye on this one!

Support and Resistance Method - Pharley