If anyone spots something moving to SR areas on the monthly, weekly, daily charts, let us know - many pairs of eyes are better than just 1! I normally try to do some analysis on the weekend to get ready for the trading week if I see something. ...

Support and Resistance Method - Pharley

Hi WIzlon, Thanks for answering. Whether you're in profit really depends on if for second, third, fourth entries, you can move SL for all trades up. Sometimes just on th second entry you can move your first entry SL up to BE or better - then the ...

Support and Resistance Method - Pharley

Hi Lapras, Not really - Look at weekly charts to set SR areas. My trades are taken off the 4hr charts, so price has normally (hopefully!) moved away quite a bit from my original entry which allows a good second trade to be placed. At the point I see ...

Support and Resistance Method - Pharley

Hi T12, No, I don't check all the timeframes line up They may do, but it's not something I'm checking for. I'm just looking for good PA set ups when price is at major SR areas (usually off the weekly charts), or on retracements. If you open up 4hr ...

Support and Resistance Method - Pharley

Hi mate - its at post number 95 on page 5.

Support and Resistance Method - Pharley

Re trades on usdchf - I got stopped out eventually on all the trades but for some nice pips gained. Interesting that usdchf has continued to climb, although I did mention earlier that I was targeting a higher SR area. I'll keep an eye on PA ...

Support and Resistance Method - Pharley

Hi T12, Oh, I don't trade without SL. That's essential for me to manage my risk. Would have been a nice ride down and for sure on a lower time frame (4hr) for entries I think there would have been plenty of entry possibilities! Cheers

Support and Resistance Method - Pharley

Great - keep learning mate! It's a never ending process for all of us. Looks interesting - I'll check it out.

Support and Resistance Method - Pharley

Thanks Wizlon, Yes Nial Fuller's stuff I've already read through and continue to refer to. Lot's of good articles on his site and well worth a read. Thanks for the link! Cheers

Support and Resistance Method - Pharley

Thanks mate!

Support and Resistance Method - Pharley

Hi Dutchpips, Thanks for your question. Those types of candle formations do happen in forex - probably with a smaller gap or no gap. Don't forget railway tracks (up then down or down then up), engulfing bars, then things like head and shoulders etc. ...

Support and Resistance Method - Pharley

Hi, Sort of right. If you go back to the start of the thread I explain how I get my target areas. And yes normally all my trades are targeting the same area to take profit. Targets are based off larger timeframe SR areas, normally from the weekly ...

Support and Resistance Method - Pharley

Hi again, Probably about 1 trade run a week on average I would say. But that could be short trades - a day or so in length, or trades that go on for weeks, or somewhere in between. Mmmm, without trying to complicate the thread, I do enter multiple ...

Support and Resistance Method - Pharley

Someone sent me an email about my platforms and why they look different. In fact I have to do a bit of housekeeping on account and platforms - so a good reminder! Yes I use both MT4 and cTrader and they look quite different from one another. My ...

Support and Resistance Method - Pharley

Sorry mate - I didn't see that post - you were right! Number of trades varies - most of the time I'm not trading at all, just waiting for price to get to a decent SR area. If it looks like I'm waiting a while, I'll look for some other things like ...

Support and Resistance Method - Pharley

Those are from Support area coming back up, a 50% retrace, an inside bar and not really sure why I entered the last one! However, risk is minimal now and I've got my eye on a higher resistance level than the channel.

Support and Resistance Method - Pharley

Interesting trades on the usdchf:

Support and Resistance Method - Pharley

Just out of interest, don't just limit yourself to one way of trading. There is no right, one way to trade. I really like trading rising or falling channels as well. I posted earlier on another thread about channels so I thought I'd share a pic on ...

Support and Resistance Method - Pharley

Hi menpowerup, There aren't any rules as such - well, I don't consider them to be rules. These are just guidelines on how I trade. Re the eurusd - I'm not sure I'd be trading short as price is very close to a support area (see chart below). I'll be ...

Support and Resistance Method - Pharley

Hi kaharris95, I have no idea about the books/cd's side of things. I've never bought one. All I've done is find good PA websites with good articles and read them. Plus read snippets of advice from pro/experienced traders. Then I've tried to use what ...

Support and Resistance Method - Pharley