[BlowFish]

Originally Posted by rigel »

Think Al has looked at these 1min charts in conjunction with his normal trading chart 5min for so long, that he is able to visualise action on 1min from his 5min charts,

Indeed, really it's not hard to see when you have watched 'price action' for a time. Of course deciding what to trade can be a different matter You watch price and you know pretty much how lower time frame and higher time frame charts will look. Mind you it would be negligent not to point out the many warnings that Al sprinkles through his writing on leaning too heavily on timeframes under 5mins. (in short dont!). I am rather enjoying the 15second chart currently but I am not looking for 'signals' on it. He also cautions that if you aren't sure don't trade it - plenty of opportunities on a 5 min during the course of a day without needing to take things that aren't clear.

[rigel]

Yes Al has gone through all of the many time frame charts from 1min to 60min etc and observed the price action on 5min chart relative to that over a long period, same with other indicators perhaps and volume for that matter. I have done that myself He has reached a point where he does not require any of this because he can visualise what is happening on those other timeframes.
But that would not be the case for anybody starting out with this book. He or she will have to keep it simple, and as Al points go straight to the Best setup chapter first and progress from there.

The more I read through the book the more I realise that trying to attach many labels to any particular setup will only lead to delay and hesitation, at least in the initial stages, best to print out charts at the end of day as Al suggests and mark them in, after a while , this training can leady to automatic recognition.
Yesterday I was going through some of the charts in the e-book by Dbphoenix and it is clear that if you try to achieve some understanding of vol, that most common patterns begin to make sense.

[BlowFish]

It is easy to get bogged down in the shear amount of information in the book. "If this and that price has a tendency to do the other". Lots of observations of that nature that tend to fall outside core 'principles'.

I think it's one of those books where getting the broad brush down first is probably wise, then taking small bits of detail to go over slowly. I just wish the charts where larger and the notes where facing!

There is a whole chapter on timeframes and focus which contains pretty sensible advice.

[monad]

Agree with both you and rigel,
IMO volume analysis allows you get behind the patterns so to speak, the fundamental forces ie. buying and selling which go to create those patterns. and once you learn to see that, you don't need to get too involved with the various terms.

Al has presented some great insights for day trading and volume analysis would even enhance that understanding. In that respect I also found Dbphoenix's ebook very informative indeed as well as all the material on the Wyckoff forum. As Head2k on another thread has emphasized, there are just a few basic concepts to digest on price/vol.))

[ACS]

I found this interview from last year around the time of his first I-Trade show. If anyone has the history, it would be great if you could post a 5 minute chart of May 9, 2008. He talks about patterns that day in the ES.

(http://heavensembrace.org/media/albrooks050908.mp3)

[ACS]

On the 19th the ES gapped above a bear trendline that stretched from the 11th to the 18th. Could we be seeing the test of the extreme this morning?

[TradeRunner]

Originally Posted by ACS »

I found this interview from last year around the time of his first I-Trade show. If anyone has the history, it would be great if you could post a 5 minute chart of May 9, 2008. He talks about patterns that day in the ES.

(http://heavensembrace.org/media/albrooks050908.mp3)

Here you go...



Time is GMT so open is 14:30.

[thrunner]

I found this interview from last year around the time of his first I-Trade show. If anyone has the history, it would be great if you could post a 5 minute chart of May 9, 2008. He talks about patterns that day in the ES.

([media]http://heavensembrace.org/media/albrooks050908.mp3[/media])

Attached edited recording to TL.