I suspect a lot of traders believe there's something to be learnt from PA and one of the names that naturally comes up is Al Brooks. I started by purchasing one of his books and found it an incredibly hard read (in fact I still haven't finished it) but I just had the feeling that there was some incredibly value information in the process and I suspected that if I could just understand it there's a good chance it would resonate with my style and personality type.
I took the plunge and bought the course (for those of you baulking at the cost don't - it's worth every penny and then some, even if you don't end up trading like Al). The course is infinitely easier to follow than the books and Al explains everything perfectly. Don't be daunted by the number of hours or videos that it contains because there are some double ups especially when it comes to the videos on trading the setups eg trading a strong bull channel and then trading a strong bear channel. Generally the second video is just the inverse of the first. Also as I finally twigged about 80% of the way through he keeps using the same charts (once I realised this everything got a bit easier it allowed me to reinforce previous learning).
There's still a lot to learn and it will take time, I am currently going through a second and third viewing of the key areas combined with some stuff I struggled with (call me slow but it took me about 5 views to start to get the hang of high 1's and 2's etc). Put in the time and you will be rewarded for your effort.
I'm probably coming off as a real Al Brooks fan boi (guilty as charged) but I can't think of a better way to learn PA and as I mentioned it suits me down to the ground.
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Digging up an old post here but I also had a chuckle when you wrote about your 1.7 speed adjustment. I like Al's material but I find his voice hypnotic to the point where I find myself literally drifting off whilst listening. I would love to meet Al, he sounds very methodical and focussed. I can imagine him working in his previous career as an eye surgeon, if I was going to choose someone to operate on my eye it would be someone methodical, focussed and obsessed with details just the way Al clearly is. There is some really good stuff in his material I just cant stay awake even if I am primed with a triple espresso lol. no offence if you are reading Al, I genuinely like your stuff and approach and kudos for not being greedy with the price. I too had to tinker with the playback speed.....
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I have been reviewing the course material for a few days. I plan to go through quickly and review the material several times--concentrating on the portions that I feel I need to incorporate into my trading style.
Al's approach to price action is radically different from what I have been taught or read previously. He does not consider volume neither does use pivot points. Every trading day I see how these two things (volume and pivot points) play a critical role in my trading plan.
I have already recouped my investment in the course. It is an excellent investment and very well done.
You should note that the 2014 version of the material has be completely updated.
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Depends on your interpretation of pivots. Al uses and teaches measured moves and support/resistance lines drawn from various sources which are essentially pivots.
And yes, although Al does not refer to volume, if you ever attend his live trading room he will often comment on volume for a bar when it is of interest. So, he obviously keeps his eye on volume. Useful to confirm a buying/selling climax for example.
Just my 2 cents.
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How important is volume analysis when trading price action
Brooks discussion on reversals is very interesting and I will deploy his methods going forward. However, I believe he misses a key component of reversals and that is divergence between price and volume. I find that this is the most accurate sign of a reversal and I always look for it. Buff Pelz's book, "Investing with Volume Analysis" is a must read.