Hi mate, I've done the pic again - see below. I change the fib settings to get equidistant levels. You can see there are 11 lines which separate the run into 10 equal parts. I put the fib from the bottom of the run to the top - 1 line down from the ...

Support and Resistance Method - Pharley

Hi there, I took a look at NZD USD - it's at a monthly support so I'd want to wait for a clear signal before trading it. The weekly chart shows it bouncing around that support without direction - in fact it tried go to up in the last 2 weeks and got ...

Support and Resistance Method - Pharley

Hi mate, Yes I'll take a look - got to go offline for a bit now though - I'll come back later. No worries about comments - all are welcome! Note that I only use the fib as a measuring tool - I don't use it as a fib should be used. I'm not interested ...

Support and Resistance Method - Pharley

Just thought I'd pop down what made me spend a lot of time investigating how to enter multiple times and gain some big pips. May be of interest. A while back I was looking at forex competition results - you know, crazy high returns, crazy high ...

Support and Resistance Method - Pharley

Hi 4xplosion, Thanks for the post. I find the chart a bit busy and confusing though. It's probably because 1) I got rid of indies some time ago and 2) also I don't really consider the 1hr charts. I find them too noisy. 3) Plus it's probably my old ...

Support and Resistance Method - Pharley

Thanks PipC, and I'm glad it's of use. I was exactly the same - never thought about entering multiple times and didn't know how to - too complex etc. After some serious amount of time looking at it I had a light bulb moment and it all sort of fell ...

90% of traders fail...

Hi mate, No I haven't paid for any training at all. There is so much good stuff out there already to learn from that's free. Babypips is a good resource - I just do't bother with the indicator related bits, then Nial Fuller, forex4noobs. They all ...

90% of traders fail...

+1

holy grail support & resistance?

Thanks mate - sleep well and don't dream of charts and pips!

Support and Resistance Method - Pharley

Hi Prax and thanks - glad you can get something out of this. I think the key to it is simplicity and just not overcomplicating things. Support and resistance - there are quite a few good threads on here covering these points and they're right - it's ...

Support and Resistance Method - Pharley

Hi OSsloth, Thanks for the question. I only use a fib as a measuring tool and not as a true fib. I was fed up with taking the top of a range and the bottom, taking one from the other, multiplying by 90% etc. So I just altered the fib tool - took off ...

Support and Resistance Method - Pharley

Thanks Xela, Yes I may work on a lower time frame as price is somewhat fractal in nature. Perhaps using 4hr SR with 15m candle entries going off those area? I don't know as I haven't checked it out but might be worth a look. Perhaps I'm getting ...

Support and Resistance Method - Pharley

Hi Howard and thanks for the comment. Normally I have charts set up for the following: gbpjpy eurjpy usdjpy gbpusd eurusd audusd usdchf gbpchf euraud gbpaud eurnzd gbpnzd nzdusd

Support and Resistance Method - Pharley

Oopurple, Ah well, I've opened a thread to pull it all together - Support and Resistance Method - Pharley

Does anyone offer tutor sessions?

Hi kprsa, Yes some live calls might be the way to go. Next time I'm trading I'll post screen shots as I'm doing it. I don't have an explorer or anything. I know someone asked me before about trade explorer - I took a look at it, but I can't really ...

Support and Resistance Method - Pharley

Hi Terminator, I remember reading about it early on when I first started trading, but completely ignored it and went the way of the wicked indicators! I guess as a newbie it didn't mean anything to me and it seemed hard to do. I just didn't grasp ...

90% of traders fail...

Hi Tooslow, Not missing anything there mate - I had a TP at 184.04 - just a few pips different. Yes those SR levels look fine to me. Cheers

Support and Resistance Method - Pharley

Hi Rtm, No I've never done a trade explorer thing - not sure what's involved with it. I'll check it out though. Cheers

Support and Resistance Method - Pharley

Here is another I took more recently on the GBPJPY. I wasn't able to get in front of the charts as much during this run, and only entered 3 times but still managed to get just under 1750 pips (only 2 trades are shown):

Support and Resistance Method - Pharley

Hi Tooslow, If you look at the chart at 2, you can see the last price move from support to resistance to the left of the arrow. That height is what I'm measuring, then taking 90% of it for my target. Chart 3 shows a closer view of it with a modified ...

Support and Resistance Method - Pharley