Otter,
I use a lot of different approaches dependent on how the fish are behaving. You must remember the approach to fly fishing, period, differs in various parts of the world. (Many English wet fly enthusiasts discourage the downstream fly) Where I live and fish most, the Genesee River, in the U.S. the trout like and respond most favorably to a moving fly. Perhaps this is because we have large caddis fly populations, While upstream techniques with soft-hackles work
sometime for me, it it mostly up and across, letting the fly sink to the appropriate level in the water column, then activating the fly. Sometime, this is used to an active fish, other times to a likely spot where a fish might be. Often times I just hold the rod still and let the fly rise as the line tightens. At other times I activate the fly purposefully, taking in line via the hand twist retrieve, gently rocking the rod as I lift it gradually. This can be done with one fly or a cast of flies.
In certain spots under certain conditions, A fast retrieve with a team of three flies works quite well. You can read more about that, here.
http://flyanglersonline.com/features/ol ... art402.php
I also find a team of flies fished upstream and retrieved at about water speed, letting the top fly dance in the surface while the others trail will often result in a good fish. I use other little nuances as well, like casting to a spot where a fish might be, letting the fly touch the water momentarily, then withdraw it. You can repeat this if you wish. Then recast and let the fly settle in the film and sink. This often brings a good response.
In
A River Runs Through It Paul Maclean develops a technique he calls "shadow casting". While a bit more pronounced than the last technique I mentioned, above, I find it quite similar.
Mark