EURJPY . solid reversal pattern on daily chart. I am long on yesterday Gmt candle close that shows a piercing, an US chart shows an engulf. weekly still bullish with and is on wave 3 with a huge projection to 150 area.

Support and Resistance Method - Pharley

Hi Terminator12 In my humble opinion the right entry was around 138.30 few bars ago. I am still bullish in this pair and I would not take any short trade yet. Only if I see a great set up, and this one was not.

Support and Resistance Method - Pharley

To be honest I do prefer Supply and demand areas instead of support and resistance, however this thread is base on S and R So I'm not interfering with Pharley's set up. check this out url

Support and Resistance Method - Pharley

Now checking on weekly the bulish structure still valid, even if price decide to go down to 137, .

Support and Resistance Method - Pharley

First supply zone 138 then the important one 137.35, that will be a good place to enter.

Support and Resistance Method - Pharley

hi Pharley Are you still Long on EURJPY?

Support and Resistance Method - Pharley

Big balls on this one Pharley! I 'll be waiting for a deeper retracement.

Support and Resistance Method - Pharley

Pharley, have you got a pending order around 138.30?

Support and Resistance Method - Pharley

Pharley, agree with you. If we are considering weekly chart and the price manage to surpass 139-140 area, plenty room until 150.00.

Support and Resistance Method - Pharley

Pharley, EURJPY is aproaching an important supply zone so I don'T see much room there. would be safer wait for a deeper retrace? at least something around 137.00 ?

Support and Resistance Method - Pharley

I find interesting to open the first trade 3% and then increasing on the following new trades as you point out, however it will be also logical to reduce lots % when price is getting near Tprofit. So something like 3, 4, 5, 6, 7, 6, 5, 4 ,3%. ...

Support and Resistance Method - Pharley

There is a nice demand area just right there.

Support and Resistance Method - Pharley

In my opinion eurus should go south 3-4 4H candles before considering anything, %. Even though the first support/demand area is not too far away, there is enough room to open 1 or two trades until this first support is reached. The problem in most ...

Support and Resistance Method - Pharley

[quote=wizlon32;8430153] I know I did refer to the 200 EMA above as that was my 1st thought when I glanced at the chart. After drawing on a couple of trend lines I thern noticed the wedge. I understand that you don't like too many indicators and ...

Support and Resistance Method - Pharley

wizlon32, I prefer to keep things simple, so no indicators, oscilators,etc.

Support and Resistance Method - Pharley

I can't put a chart right now but there is an interesting possible trade on eurus. The resistance area is not AAA but still a valid short trade. price just wast rejected on 1.11 area so I am waiting to see if itgoes deeper and then retrace 50%. ...

Support and Resistance Method - Pharley

Hello everyone Great thread Pharley, i just suscribed. Your trading style is pretty much what I've been around the last six month. there are few difference here and there but similar concept. I'll to post some trades and/or any new trading ...

Support and Resistance Method - Pharley