[ACS]

I was happy to catch my 11:26 scalp which looked like the best trade of the day to me. Seeing that change in trend in real time was more luck than skill since I usually spot them well after they happen. My goal for now is to follow the recommendations in chapter 15. Don't trade barb wire or if the market is in the middle of the day and in the middle of the day's range. On a strong trend day trade every H/L 2 where the setup bar touches or penetrates the EMA. On a trading range day fade second entries at new highs and lows or wedges with strong reversal bars.

[BlowFish]

Originally Posted by forrestang »

I...snip...

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.

He does indeed devote a chapter to this. Here's the thing, it seems to me (from my first read through which was a bit of a 'skim') that it's not so much 'type xyz' setup that makes it best but the quality of the individual setup itself. I may have got that wrong though because I do seem to recall he has some setups that are more favourite than others. I'll re-read that chapter a bit more thoroughly and report back.

[rigel]

It is modification of Vic Sperandeo 123, 2B reversal type setups and has more stringent conditions ie. Trendline break with a strong bull or bear reversal, followed by a 2 legged move culminating preferably in a wedge 3 pushes on the 2nd leg and then a H2or L2 with the entry bar a Bull or Bear respectively IMO.

[BlowFish]

His rules for reversals are absolutely trader vic 123. That occurred to me too Some of his price action stuff share similiarities to 2B's but a bit different. Plus of course there is a whole host of other 'setups' and observations.

[rigel]

Another great insight by him is anticipating after trendline breaks or after 2 legged break below a swing low or high, ie. reversal setups.

This is extremely useful say after a sharp rally or sell off and then prices getting into a trading range. By drawing different sloping trendlines anchored from the start of the fall or rally to each new swing in the trading range, it is a lot easier to anticipate a reversal as happened yesterday and as it is unfolding today on Ftse and Dax.

Al is strictly against using 1min charts, but does recommend 3min in the opening hours, so the entries look much better on 3min as you not only have L2 but also M2S shorts, check it out

[Gabe2004]

Hello
Could someone please post a picture with H/L 1/2 marked?
I watched all of AB's videos, read his articles and the book but I still have a problem figuring out the above.
It seems that sometimes the H's and L's are mixed in the charts posted here and in AB's work.

THanks

Gabe

[johncw]

Originally Posted by 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.

Maybe this will help (I think the only one missing is slide 1):
http://www.mediafire.com/file/xtwmee...oks_slides.zip

[forrestang]

just some observations from today.