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Book Discussion: Reading Price Charts Bar by Bar by Al Brooks
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Book Discussion: Reading Price Charts Bar by Bar by Al Brooks

  #21 (permalink)
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cunparis View Post
It's not an easy ready but I hope you will put in the time so that we can discuss it together. I've learned a lot so far. I think there is a lot of ideas that one can incorporate into just about any trading style. I took another reversal like the one I posted above, on CL and made 30 ticks. My best CL trade of the day and it didn't even come from my normal system!

The book is really a gold mine. It'd take a year or more to learn everything in it.

I plan on going nuts reading through this thing. Especially after hearing the feedback from you and others as to what its all about. Gonna be a fun weekend. I'll post my thoughts as I pick through it.

Blz

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  #22 (permalink)
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terratec View Post
The book is very hard to read. Even harder if English is not your language. I would like someone did a Brooks for Dummies.

I find his EOD comments on his website very useful:
Brooks Price Action - IntegraMOD Default

Thanks for that link. I poked around a little bit, but its late so limited... However I didn't see any end-of-day comments (or by "EOD" did you mean something else?)

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  #23 (permalink)
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Go to "Forum" and then "Trading Updates from Al Brooks". There you will find the EOD comments from Al and discussions about the comments. Highly recommended!
As the book, the portal is not easy to navigate.
There is also a chat room.
Many articles... "Extreme Scalping" helped me a lot...
Worth to walk around... and come back

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  #24 (permalink)
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terratec View Post
EMA Gap
In this case, sideways or up trend with gap below EMA

Awesome job terratec! Thank you for sharing. I hope others will choose just 1 or 2 patterns and then learn to trade them and share their charts. I'm going to choose mine today, then go back over the past week looking for them. Will share my results.

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  #25 (permalink)
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Hey guys I'm working on my perfect trading charts and I came across this example of a trade from the Brooks book.

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  #26 (permalink)
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Price tested the premarket high, then there is a reversal bar showing failure of the test. BUT the next bar after that didnt break the LOW of the reversal bar...

This simple filter will keep you out of a lot of losing trades from my experience...

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  #27 (permalink)
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yroyal View Post
Price tested the premarket high, then there is a reversal bar showing failure of the test. BUT the next bar after that didnt break the LOW of the reversal bar...

This simple filter will keep you out of a lot of losing trades from my experience...

I totally agree. I was too premature. Thanks for pointing that out!

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  #28 (permalink)
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Cunparis, nothing premature about it.. theres an urge always to take trades at the best price which leads to overlooking such things. I have fallen through such pitfalls myself many times and paid the price for it... good luck !

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  #29 (permalink)
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cunparis View Post
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P357 (Best Trades):


Quoting 
One of the best reversal patterns is a trendline break with strong momentum followed by a two-legged test that results in a new extreme...

Around 10:25 there was a trendline break (trendline not shown). And then a two leg move up to test the high. Exactly as he said. I tell you guys, this book is amazing. I'm going to keep quiet about it. Going to keep this between Al & I. Shhhh....

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  #30 (permalink)
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I have the book.. got it early this week... slow read.... Let's talk this book up amongst ourselves and share our findings...

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