[pmxgs0]

Originally Posted by monad »

Just got my copy, the charts are not that bad, definitely require a magnifying glass though, guess Wiley&Co. were trying to pack all into minimum no. of pages to keep the costs down. Still it is the content that matters.

Yes Rigel, lot of the setups have been documented in a number of books , as Blowfish points out Al also points out the probable scenarios that could unfold.

Taylor does this for each day of the 3 day cycle in his book which is a more difficult read than Al Brooks , however understanding price action as per his style would certain allow better entry and detection of reversals. Ofcourse this would be complemented by vol analysis as per Wyckoff.

Hi,
I've just received Al book.
Monad, could you please tell me names of the books you are mentioning (Taylor and Wickoff). Are theses books easily available?
thanks

[albrooks]

fwiw, the daily chart is forming Barb Wire after a protracted move and this usually results in a reversal. Most of the time, it becomes a Failed Flag, popping out of the top and then reversing, but it could just sell off.
The pullback should reach the start of the channel in this Spike and Channel bull off the March low, and that is around 750 - 780.
Then, we should make one more leg up to a Higher High, creating a Wedge on the daily, and this would be followed by a test of the bear low (Higher Low or Lower Low) before trying to go up again.

BBBUUUUTTTTT, this is all coming from a guy who makes most of his money off daytrading, so it is simply intellectual gibberish for those interested in applying Price Action to a daily chart. As the chart unfolds, other scenarios can become more likely.

Good luck everyone!
Al

[monad]

Originally Posted by pmxgs0 »

Hi,
I've just received Al book.
Monad, could you please tell me names of the books you are mentioning (Taylor and Wickoff). Are theses books easily available?
thanks

The Taylor Trading Technique (Paperback)
by George D. Taylor is available at Amazon.com, it is a very tough read, you can get some idea of the concepts on the Taylor thread on this website.

Wyckoff is a course, not a book, if you go into the following threads on the Wyckoff forum you should get more details, you can also inquire further on those threads, plus there is a ton of free available from Dbphoenix there which is invaluable as is his ebook which is relatively inexpensive and will certainly supplement what you read in Al Brooks.

http://www.traderslaboratory.com/for...rces-3866.html

There are also threads in there on "Ask any wyckoff related questions and Trading the Wyckoff Way"

[forrestang]

Yesterday....Don't pay attention to anything after 11:20 as this is where i rolled contracts and merged data so it is skewed.

Originally Posted by Gabe2004 »

This is my attempt at marking H/L 1/2's.
Feel free to point out mistakes.

Any reason you're using a 3 minute chart? Did you mark up a chart for yesterday?

btw, I've been printing out a black and white chart of the NQ and ES after market everyday and marking it up. It is probably something that is going to be helpful? The ES go over is kind of redundant as i stared at it all day, the NQ is usually similiar but different enough to still gains some perspective usually.

And this book is taking forever to get here, ordered a week ago, and didn't leave amazon till the 10th, wtf?

[albrooks]

these were my favorite trades from yesterday

[forrestang]

Originally Posted by albrooks »

these were my favorite trades from yesterday

In hindsight looking at your chart, that major Trend Channel seems to be an important basis for most of the trades taken that day for you.

For example, the four short trades that were counter to the main trend starting at about 10:45 and on, I can see how you would have confidence to take those....i.e. with the way it fits into the big picture.

How long does it usually take for you to get such a clear picture of the day?

In this time frame, are you just expecting price to go back towards the bottom of the Trend channel so you are only looking short? The picture should explain what I'm asking.

[rigel]

1st trade -tlb presumably trendine break, which trendline are we talking about

what are tcl, bw, dt.

lh - is that lower high.

[albrooks]

the move to 930 was a two legged sideways move that had 2 smaller 2 legged moves in it. as the move traveled sideways, it broke the trendline from yesterday and this move became a large possible Final Flag, so I was looking for reasons for the trend to turn down. The false BO of the top of the channel was perfect and the trend was then down from there unless something else developed, which it did not.


tcl trend channel line
bw barb wire
dt double top (bear flag)...the Lower High was in the form of a Double Top Bear Flag