[monad]

Originally Posted by ACS »

The bear trend bar you have marked L2 was the entry bar. The signal bar was the prior bull trend bar and the entry would have been one tick below the low of the signal bar at 929.25. This was not a beginner's trade because the signal bar was a bull instead of a bear and it was away from the EMA, but it was a win.

Agreed,
Infact Al states on p294, that price action is of greater importance than EMA and that EMA in the first hour can be misleading, when the market opens far from it.

[daedalus]

Thanks for the clarification guys!

[BlowFish]

Monad,

I found a great deal of benefit in extracting key points and making a bullet list (early in the thread) FT has gone about 3 steps beyond that!! ....the important thing (for me) is going through that process really aids in my understanding.

[ACS]

I noticed if you watch the December presentation you can right click on the slides and properties will give the url to download each of them but that doesn't work with the May lecture nor does the source code help. There are so many slides he zips past without comment, it would be great to be able to print them out. Anyone able to figure it out?

p.s. nice entry short at 931.25 at 11:26. L2 second test of the EMA and the signal bar was a bear.

[forrestang]

Originally Posted by ACS »

p.s. nice entry short at 931.25 at 11:26. L2 second test of the EMA and the signal bar was a bear.

I saw that one, there are so many.

There was another micro-trend break (L1) trade that occurred @ 10:45 for a short entry.

Does brooks talk about which trades are the very best in the book in greater detail in efforts to filter down trades? I will be able to read it soon once it arrives.

[monad]

ACS,
You can use pause and then use snag it and print.

forrestang, infact the last chapter is a gem after 350pages , devoted entirely to the best trades. According to Al "The absolute worst thing to do is to start trading Barb Wire" The second one is trying to trade from 1min chart where the setups look a lot easier especially in the end of day chart but in realtime, it will just go to wipe out the account.

Blowfish, it certainly helps to print out some charts and mark the setups, an exercise which Al undertakes on a daily basis similar to what an athlete would do to train for an event.(as Al puts it), as I said, all in all , brilliant effort, not only price action is explained, but how to construct strategies and tactics to trade.

The book would not be an easy ready for beginners, though it would certainly put them on the right path. I have studied Wyckoff's original material and that makes it somewhat easier to trawl through Al's work for it is also easier to visualise the volume aspects during the various setups.

[ACS]

Here's a real time test. The 10:30 rally broke the bear trendline from the open and then the market sold off in two legs to test the extreme. Will we now see at least a two legged rally up?

[forrestang]

Nice ACS!!! ^^^

Observations during the day. That last trade required a big stop, but target would be back to balance area.

The rest of the chart should be explanatory.