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Pharley Simple system - Get your levels right for trading S/R

Definitely mate - play it safe. Taking no position due to PA is taking a position! Cheers

Pharley Simple system - Get your levels right for trading S/R

Hi Schrupper, I think what I see is there's too much stuff on your charts. Try and get rid of most of that - zigzags, period separators etc. Just concentrate on the price and the turning points. If you're happy with all those things on the your ...

Pharley Simple system - Get your levels right for trading S/R

Hi Dirk, It does really vary - sometimes I can see a few trades in 1 day that I want to enter and other times it's just a couple of times in a week. Let's say 1 a day on average. Cheers

Pharley Simple system - Get your levels right for trading S/R

Hi - all of the majors and most of their crosses - so there's about 22 pairs on my platform currently, plus gold, dax30, ft100, F40 and US30. However, I'd say that most of my trades are on AUDUSD, GBPAUD, GBPJPY, USDCHF and Gold. Oh, and Dax30. ...

Pharley Simple system - Get your levels right for trading S/R

Hi LinFX, My daily trading routine - it gets interrupted quite often - a consequence of having 3 kids! But it's nothing special - I've already done my analysis on a Sunday concerning major S/R areas and market structure. Before I do anything, I open ...

Pharley Simple system - Get your levels right for trading S/R

Hi mate - yes, I normally check the major S/R areas on a Sunday and draw/redraw ready for the week. Doesn't take too long. Cheers

Pharley Simple system - Get your levels right for trading S/R

Like I mentioned earlier, you have to have a toolbox with a few different things - 1) a few different ways to enter, whether that be by continuation or reversal PA candles, retracements etc; 2) how you identify major and minor S/R areas; 3) how you ...

Pharley Simple system - Get your levels right for trading S/R

HI Mhon - yes absolutely - I also use the 4hr. The 4hr is also terrific for 50% retracement entries - see below a couple of images.

Pharley Simple system - Get your levels right for trading S/R

HI - yes that's right. But I do look at 4hr as well as 1 hr charts for entries. Particularly the 4hr for the first entry - I tends to give a clearer signal. Cheers Pharley

Pharley Simple system - Get your levels right for trading S/R

Hi mate - haven't had a chance to look this morning! I'll get to looking later today. Cheers

Pharley Simple system - Get your levels right for trading S/R

Hi Ramzam, I took a look at the copper charts and this is what I see for that price action. Pic 1 is a daily chart with a couple of S/R areas marked on it. You can see you bought at or near the major turning level at resistance. After price bounces ...

Pharley Simple system - Get your levels right for trading S/R

Pyramiding is a valid way of really boosting your account, but you have to know what you're doing as it's all about risk management. Actually I was doing that on gold the last few days and it went very well. Gold price came down last night a bit and ...

Pharley Simple system - Get your levels right for trading S/R

Hi Schrupper - for all your trades, try to make sure you're getting at least 1:1 risk rewards or better. Also, remember to look at the higher daily timeframes and draw in major levels of S/R first. I can see the eurcad short was shorting into a ...

Pharley Simple system - Get your levels right for trading S/R

I always try to keep risk around the 3% to 6% area, no matter how many trades I'm in. But that's only a guide - I'm much more comfortable thinking about $ risk rather than %. That's because of this - I have an amount of money in my trading pot, but ...

Pharley Simple system - Get your levels right for trading S/R

Hi King, Yes I will try to get in again when I see price starting to move in the trend direction again - IF there is room available before price gets to major S/R areas. Regarding certain bars on daily TF - yes I do look for those as well and will ...

Pharley Simple system - Get your levels right for trading S/R

Hi Jun, Yes I look at the higher timeframes, draw in the S/R areas, then look at where price is in relation to those. If it's hit a resistance at the top and is travelling downwards towards support, then it's a downtrend - typically it shows lower ...

Pharley Simple system - Get your levels right for trading S/R

HI LinFX - at the moment we're in a very special set of circumstances which is why much of the price action has reduced enormously. The vote for Britain to leave the EU (or not) is next week, and the outcome will have a fairly major impact ...

Pharley Simple system - Get your levels right for trading S/R

Yes I agree - we all must be careful for now. I think the vote is next week - June 23 - so go easy on trading for now. Hey - GREAT results mate! It's good you're keeping the risk low and it shows that terrific returns can be had while maintaining ...

Pharley Simple system - Get your levels right for trading S/R

Hi - at the moment I'm a bit wary of trading fx due to the impending Brexit vote. I did take a speculative gold long trade the other day which I'm hanging on to for now. Rumours are that if the UK votes to leave, gold may shoot up to $1350 or even ...

Pharley Simple system - Get your levels right for trading S/R