Support and Resistance MethodPharley

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This technique is beneath within the first few posts, or in a nutshell at Publish 185 on Web page 10.

Stay trades taken with results of +60% account progress in 1 commerce run begins at Publish quantity 176 on web page 9.

1. Weekly candle chart - Attract areas/traces of SR:

연결 사진 (확대하려면 클릭)
2. 일일 차트 (similar time interval) - transfer to every day candle chart and watch candle value motion and SR space - pin bar at assist shaped:
연결 사진 (확대하려면 클릭)
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Name: 2a. Daily SR GBPJPY example.png
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3. Arrange goal space - I take advantage of a modified Fib only for measuring. I take 90% of the earlier transfer because the goal:
연결 사진 (확대하려면 클릭)
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Name: 3. Price target on daily.PNG
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4) 4hr entries - I transfer to 4hr candle and search for my first entry. This one is a 50% retracement entry. All targets for a number of trades at at my goal stage (보다 3 ~ 위에):
연결 사진 (확대하려면 클릭)
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Name: 4. Trade 1 - 4hr 50% retracement.PNG
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5) Second entry - on the 4hr candles. I wait till the primary 4hr candle closes above yesterdays excessive. SL from commerce 1 is transfer as much as the place SL for T2 can be:
연결 사진 (확대하려면 클릭)
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Name: 5. Trade 2 - 4hr entry candle.PNG
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6) I hold coming into on 50% retracements and both a 4hr candle closing above yesterday excessive, or wait till a break above the excessive comes again to retest the break level.
연결 사진 (확대하려면 클릭)
Click to Enlarge

Name: 4hr wait for retrace.PNG
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Strategy is:

1) Weekly chart, draw main SR ranges
2) 일일 차트 - anticipate value to come back to these areas. Search for PA candles - Pin Bars and many others
3) 4hr for entries on 50% retraces, confirmed larger breaks, or retraces again to interrupt factors
4) Set SL at logical positions - usually final swing H or L
5) Transfer SL up (또는 아래로) to the brand new commerce SL level - this locks in income
6) Goal is identical for all trades - Measure the final transfer between S and R and take 90% as a goal
7) Enter a number of occasions - Every time I get my SL as much as the most recent commerce, I am locking in income. Most significantly my danger is remaining fixed.
8) For the very first commerce of a transfer, I solely danger half of my regular danger - it is because value can do something, and it could go in opposition to me
9) as soon as value strikes in my favour I enter at my regular danger stage
10) If I've a number of trades open and they're in danger, the overall danger solely provides as much as my general danger stage
11) I cease buying and selling the run when reward to danger will get decrease than about 2 에게 1
12) Typically I'll enter on continuation candles in the course of the run - inside bars, pins, however I strive and hold it so simple as potential

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우리는 경험이 풍부한 Forex 트레이더 팀입니다. [2000-2023] 우리 자신의 조건에 따라 삶을 살기 위해 헌신하는 사람들. 우리의 주요 목표는 재정적 독립과 자유를 얻는 것입니다., 우리는 자기 교육을 추구하고 Forex 시장에서 자립 가능한 라이프 스타일을 달성하기 위한 수단으로 광범위한 경험을 얻었습니다..