monad

Yes the second statement regarding 1min and 3min was not connected with the 123 or ABC setup which occurs after a strong trendline break. It is meant to be used on initial strong breakouts to gain entry as it happened this morning on the FTSE and Dax. Refer to P156 of his book. Also if you go through that chapter 6 on Breakouts, you will find use of Wyckoff term Selling Power(pressure) on p162. this reflects that Al has obviously studied and understood price/vol relationships, though he has reached a stage where he can trade without having them on the chart. But taking into account that it is utlimately price/volume (effort v/s result) interactions that materialise as patterns, it does help to have some understanding of P/V principles. The breakout setup on p160 for example is a manifestation of absorption. i.e supply from previous high being mopped up by buyers just prior to breakout of the range.

Attached: Trader Vic 123 setups Al Brooks- much better representation in that he incorporates the concept of 2 legged move plus wedge formation to time the entry. BTW in a fast market especially during the opening hours when you see large range breakouts, he does recommend going down to 3min or even 1min to gain entry. p156

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.

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.

forrestang Great effort in compling the pdf files on Al's lectures. Looks like you are getting the hang of some of the setups. The book is more like a text book, choke full of great insights of price action garnered over many many years- rare piece of work showing how to keep it simple and learn How To Trade. Even Wyckoff would be proud of it:) keep up the posts.

Laurence I am not a guru. I have studied and use both Wyckoff and VSA concepts. Understand this: VSA is derived from Wyckoff. In wyckoff there is nothing like "markets do not like upbars on high vol" and "professionals lurking in the background to pounce on you". This is all hype in VSA. Context is the what matters. There are some very useful setups in VSA , again based entirely on Wyckoff but presented in somewhat simpler way and that is all you require. Drop the rest, especially the urge to figure out who is moving the market, each bar in the right context reveals if there is Buying or Selling pressure. Vol is activity, on each bar selling and buying contracts are equal, what the price does tells you who is in control and that is all you need to know. Anything else is just distraction. In your quote ref P39 chart 7, the explanation is confusing: The context is "Pushing through Supply", There are lots of traders who were long and are itching to get out at breakeven if price reaches the level at which they bought after a fall. To absorb this vol, the demand has to be greater than supply ie. buying pressure is in control, there are more contracts on the bid, totally forget about professionals:))) If you wish to progress without getting mired into lot of VSA jargon, get hold of the latest Al Brooks Book "Reading Price Charts Bar by Bar", Preface alone will set you on the right path. and is worth the price of the book Attached is a pdf : The first section of the book on "Price Action". Next go to the Wyckoff forum, there is enough there to guide you further on how to read vol which is Effort and price move which is Result. You really do not need any more, no fancy software, seminars, etc period. End of day, Your choice. Good Luck AL BROOKS BOOK.pdf

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.

Thanks, did contact Al Brooks regarding this, looks like to view the charts in the articles published by Futures Mag. you have to subscribe , however he said the books did have all the charts and explanation, but the publishers Wiley have chosen a format where the charts in the book do not look that great, will have to wait and see till the book arrives in a day or two;)

stanlyd Great stuff, there is a lot going for Al Brooks analysis, guess we should have a thread "Trading Al Brooks Way", think if one has an understanding of wyckoff, it is relatively easier to understand his terms and to visualise what part volume could be playing, although Al himself does not focus on that. But looking at the content of his book on internet, there is a mention of vol I believe. could be wrong. Anyway in Wyckoff forum they have shown that vol. only is relevant when prices approach certain support/resistance zone, trendlines etc. IMO combination Al brooks bar by bar price action and Wyckoff price/vol (EFFORTv/s RESULT) should be beneficial to all traders. and ofcourse to cap it all, add Taylors method and then the focus can only be on the expected trend , and the trading rules for a particular day. BTW the articles do not have charts, do you have them, if so would it possible to upload them here. However have ordered his book, so presume all this stuff would be there.

Objective levels, Zero Decline, Zero Rally can only be discussed and has meaning only if the cycle is kept intact as per Taylor Methodology and then the different rules for trading the same day (buy,sell or ss) can be implemented depending on whether the market is in sideways or trending mode(up or down).

Presume you are referring to Windows media player , is it then just a matter of downloading a free K-lite codec pack off the internet . Anyway transferred the file and SWF to my another computer which I use strictly for charting where there is still windows internet explorer and it is o.k Looks like on the other Opera's java script block was causing the problem. However will try your codec pack and see if the viewing is better. Al Brooks certainly comes through as a competent trader, have not gone through both of them as yet, probably will do it tomorrow, gorgeous day outside to be sitting in front of a computer:)) Am also going through the 50page PDF , lot of price action is consistent with Wyckoff although Al does not use vol, but he does use terms like climax etc and think in his book there is a section with vol. Like you have ordered his book, would certainly be useful not only for my trading but for the learning curve of my family members.

Downloaded the two files and the SWF opener, installed the latter, but unable to open the files to view, normally when you install any program, it should be in the program folder, and if the exe. file does not appear on the desktop, you can drag it from the program folder. However nothing doing here, Apparently it does not like the browser I am running which is Opera. Any suggestions.

Right, who gives a toss as to who left and who has joined TG. What matters to them is there are enough suckers out there to be hooked in, and they are on the roll, even Manby is not going to turn away from those green notes pouring over him no matter what transpired before with Gavin. Those who wish to learn price/vol via VSA/Wyckoff can do so without getting mired into all that with personal effort and screentime rather than relying on advanced class seminars etc. We have a long weekend with a Bank holiday, good trading to you all.

I have both, Master the Market is somewhat glossed up once VSA changed to Tradeguider for marketing in US, Todd Kruger was the partner at that time and along with Tom was I believe largely responsible for publishing that. Whereas "Undeclared secret........ is Tom's original writing, not a great of difference though, numerous typo errors but some illustrations are much better in keeping with Wyckoff. As for Wyckoff's original course, I understand it is not that difficult to get, microfilm is available at nominal cost, search the Wyckoff forum for more info. As for Manby, he was left out whenTodd was there, once Todd left, Gavin needed Manby to promote the Software, where the real profit is and ofcourse the ongoing bootcamps and seminars and vsa club , whereas the basic principles are relatively easy to grasp and then screentime is required to observe and assimilate, period.

Absolutely, depends entirely on the timeframe and context, here in live market, an upbar on pretty heavy vol closing in the middle, representing absorption and not weakness as taught by TG crowd. On the 4bar after that upbar prices rise on low vol which would be wrapped in the no demand jargon bu TG, whereas here it is a clear sign of lack of offerings and that supply has dwindled. The fact is prices are rising showing demand. when demand exceeds supply prices rise,simple, period. Here is the quote from the original Wyckoff " Not all of the manipulaters' moves can be detected. Not all of the moves are made by manipulators. Infact it does not matter to the tape reader or the chart reader whether the moves are real or artificial, that is, the result of actual buying and selling by the public and bona fide investors or artificial buying and selling by large operators"

And as it is unfolding now in the live European bourses ofcourse not all are going to hand out large profits . 90% is management of trade and depends on the timeframe.

Tasuki, If you get hold of the original Wyckoff(available in microfilm for some $100 I believe), in Section 21M all this is explained. Thrusts are opposite to shakeout. There are 2 kinds of shakeouts, terminal and ordinary and same for thrusts. Shakeouts are signs of buying pressure, Thrusts are signs of selling pressure. All in the right context ofcourse. Forget the professional money nonsense, who cares who is responsible. In the attached thrusts (blue arrow) 2 are in the right context, Green arrows (shakeouts),, a terminal one is normally on large vol. spike. at the end of an extended downtrend. . and as bbjanchor says you could do well just focussing on these. You don't require any of the extra stuff from TG, certainly not Gavin's waffle;) his primary goal is to sell the software, DVDs , VSA club and ongoing bootcamp/seminars( with the help of the once booted out Sebastian now branded as the world's only Chart Reading Machine(hindsight ofcourse) .ie. to fool the masses into thinking they have something unique to offer whereas all that is required is to study the original wyckoff together with the original Tom Williams "Undeclared secrets............" period......

Well there was a short rally worth at least 5pts on ES from the projected low of 883, wonder what was the projected low as per your TTT. I trade Russell also sometimes, the rally there was off 476 to over 480, well below Buy day low of 487.

I was merely quoting Taylor regarding rallies of the projected low. I keep a book but not as detailed with odds etc as Richbois, just the basics. Richbois has indeed been a valuable contributer here and has never made any attempt to promote his product or services. The projected low was indeed in the zone 882-884.

Rally zero on Buy day warned of a B.V today, the project low is around 882-884, any rally may or may not reach the Buy day low. Lets see how it pans out. Nice to have your input thalastrader. How long have you been trading TTT.

Great elaboration on the essence of Taylor Methodology and clarification of ideal and not-ideal cycles., highly appreciated. Today continuing with our count is Buy day, perhaps you can view ES and make some comments.

WHY? Back to your excellent Post 704 and some meaningful and mature discussion, hopefully to continue this thead before folks just walk away in disgust at the pissing contests going on in the last dozen posts. Would appreciate if you could clarify the following: "That is; in a bull market it can go up 123, or 4 and 5 and then react or it can go down in a bull market 123 4 or 5 and then react off that. Ditto for bear trends. 1. I have observed that in strong uptrends, there is indeed the first cycle 123 where the SS closes on its High Last. Following this Day4 , Buy Day, there would be a shallow decline or zero decline and off to races which continue on the Day5, Sell day. Then it reacts on the SS day with an ideal short. Is that what you meant when you said in a bull market it can go up 123, or 4 and 5 2. Similar scenario occurs in downtrend or a sell off from congestion, SS ending flat or low Last with BV, followed by Day 4 Buy day which ends flat and further downside on Day 5 Sell day, than on the SS day we have the rally.

I found this post on "Re: Taylor Trading Technique" interesting and have nominated it accordingly for "Topic Of The Month May, 2009"

"POST 703... i have friday as buy day on a B/M/S/B cycle... POST 708: ... today... tuesday... was short day by my count.... .... and wednesday will be buy day " There is glaring contradiction here, if Friday is a Buy Day, then as per Post 703, Tuesday should be a Buy Day and Wednesday should be a M Day. OR if wednesday is a buy day, then Friday following M day(Thursday) has to a sell day. Not that it matters one iota to another trader who has proven/tested strategies in place for intraday trading for each day of the cycle Think for meaningful discussion here, it is imperative to refrain from person attacks and insults not only on the forum but via unwelcomed Private Messages as well. Name calling via PM like "Joker, Jackass, without balls" etc is not very productive, perhaps Soultrader should look into this otherewise this thread is coming to a grinding halt for it looks like anybody who posts here is considered as wrong, faces unnecessary hostility and instructed to migrate to ET.

Most likely a reaction to the Housing Start Report which came out in US 8,30EST, it has a tendency to do that. Similar reaction on Eurostoxx and Ftse as well "Highlights Housing starts in April fell sharply to a new record low for a series going back to 1959, largely on cutbacks in multifamily construction. Starts dropped another 12.8 percent, following an 8.5 percent decline in March. The April pace of 0.458 million units annualized was down 54.2 percent year-on-year and came in well below the market forecast for 0.540 million units. April's decrease was led by the multifamily component which plunged 46.1 percent while single-family starts edged up 2.8 percent. By region, the fall in starts was led by a monthly 30.6 percent drop in the Northeast along with declines of 21.4 percent in the Midwest and 21.1 percent in the South. Starts rose in the West jumped 42.5 percent. Permits also declined at the national level, falling 3.3 percent in April, after dropping 7.1 percent the month before. The April permit pace of 0.494 million units annualized was down 50.2 percent on a year-ago basis. Equities should be disappointed by today's starts numbers. It appears that many have forgotten that starts are far downstream in the list of housing indicators. It should be expected that improvement in indicators such as the homebuilders housing market index or mortgage applications will take a long time to trickle down to actual new construction. This is especially the case as a spike in foreclosures is threatening to delay the sell down of housing inventories. Homebuilders clearly understand that any new construction will likely sit on the market for some time, having to compete with fire sale prices on foreclosures" Talk about spikes, absolute crazy moves of 30pts on 1min on Dax compared to somewhat manageable 9-10pt moves on Eurostoxx