Pharley Simple system - Get your levels for S/R trading (Pharley Simple system - Get your levels)
Hello everyone,
Okay, let's do it again.
Get price direction based on major S/R, market structure and trends (higher highs, lower lows, etc.). Draw a smaller S/R and wait for price to break above that point and retrace back to the pre-entry level.
One can wait until price actually closes below the line after being above it (briefly) as it was confirmed based on Russ Horn's rejection spike (thanks for that poster!)
Cheers Farley
Okay, let's do it again.
Get price direction based on major S/R, market structure and trends (higher highs, lower lows, etc.). Draw a smaller S/R and wait for price to break above that point and retrace back to the pre-entry level.
One can wait until price actually closes below the line after being above it (briefly) as it was confirmed based on Russ Horn's rejection spike (thanks for that poster!)
Cheers Farley
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