I can confirm what barocca and Colovion have said.
In my experience there are two "stances" of the phalanx.
Defensive stance:
You have your Phalanx in phalanx mode and guard mode.
This is most immobile and perfect if you're attacked. Your phalanxes work like a wall, everything that charges this wall will be killed. It's good to have your formation deep to repell even cavalry and chariots. Keep in mind that in this mode your phalanx will only kill when charged. Shuffling to the right does occur.
Aggressive stance:
Guard mode off and in phalanx mode:
Your phalanx can move at reasonable speed. When ordered to attack an enemy unit, it will play its "thrusting" animation and will kill. If you had the guard mode on it would only push the opponent away or keep it at bay. You can test this when two phalanxes push against each other and you take yours off guard mode.
I tested this yesterday evening and even my Greec militia hoplites did well against the seleucids scythed chariots. BTW, when two of your phalanxes fight one enemy phalanx, it's most of the time recommended to take one of yours off phalanx mode and attack with the secondary weapon from the rear or flank.
R'as
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