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Normally when I say a "push" or a "leg" in a trend it's off a pivot low or pivot high from which the new trend originated. The first push might be nothing more than a pullback in the trend-in-progress, but if that results in a first HL/LH or a DB/DT or a failed break through previous S/R, and...

Price has memory, so keep previous support/resistance pivots on hand for reference. I sold the 75.43 low in crude oil Friday because next support was 75.21, followed by pure airspace until 74.25. This gave me room to exit the trade for a scratch if price failed to break 75.21 (which I did...

If you had absolutely nothing on that chart besides the MA, you can trade textbook PA. Price breaks out of the range (flat MA) to the upside, you're long on the break. Price normally completes two more pushes up from the breakout push before a true trend reversal (breakout through the other side...

Wow, really glad I stumbled across this thread. The last time I updated my IB, the centering feature in Booktrader became annoying and as a result I decided not to updade it any longer, so I had no knowledge of this popup in Booktrader. I trade CL and in the time it would take to confirm an...

Keep an eye on bullish flags; Price channeling in a groove. Prepare to play the breakout, Maybe catch a measured move?

Monday may open gap down and move up, Or open gap up and sell hard. Monday may offer a trough fit for bulls, Or a fruit-bearing tree bears bombard. Traders come Monday are hungry for green, And draw multiple lines in the sand. They care not which line is the one that gets crossed. They...

Holy Whack-a-Moley, Boli! You trade that??? A 42-tick chart??? You must've felt like you entered a time warp the other day. Now I understand :p

Just ordered it on Amazon! You've definitely read my journal because here are actual excerpts from it: "Shorted ES twice on lower highs after some serious whack-a-mole action at the top." "Later after the news I noticed that whack-a-mole action when price rallied to 1102.00, sold off...

I read about this method of entry in Al Brooks' book (it's a favorite trade entry method of his). I've only used it with a 5-min chart or with a breakout through a major high/low. Brooks also trades a 5-min chart. It took me a while to start using it regularly, because it's human nature to...

That's the biggest challenge for everyone, because to be able to do that would indicate you're psychic, and if you were psychic you'd own the market. By the time you identify what kind of day it will be, the best part of the trading day is mostly over. We've seen big opening moves completely...

PO, there are many days when the major trend is one way, but it's a trending range that you can enter both ways or the day provides a decent pivot at some point. Today was a day where the stock index futures displayed almost no long invitations (I watch ES and assume the others may have been...

Nice trading, Matcha! It makes sense not to trade the first 30 minutes with stocks due to the emotional baggage of overnight gaps having to be shed, but I don't understand the value of having a rule not to trade the first 30 minutes when you trade futures, since the price action continuous. A...

Yeah, I saw the huge airspace between 75.21 previous support and 74.25 and was filled with glee for a brief moment as price jumped nearly to 75.21. I couldn't take most of my early signals due to connectivity issues :mad:

Gabfly, I believe you've pinpointed the very reason this book is so difficult to read! Imagine spending half your life mastering incredibly intricate subjects in unbelievable detail until your brain is full-time afire with intellectual stimulation, then being forced to distill all that...

Yes, I'm making a lot more money since reading it, but it was a strong reinforcement of a lot of what I was discovering on my own. Dog, that was a perfect "How to Read" guide! Why did I like it? It taught me price action, pure and simple. Taught me I don't have to worry about predicting...

I shorted the breakout @ 75.43 (Aug), saw 18 ticks come right back to stop me out b/e. The break was such a quick move through I had visions of a 1.30 move dancing in my head. Oh, wait, it's exp Friday... :D

I shorted 76.23 (internal double top) and covered @ 76.01 at what appeared to be an internal double bottom pivot near the 20 EMA in a micro-uptrend. I'm glad you got the other half of my profit :D

It turned out to be internet issues.

I haven't traded yet today, my IB's been acting weird and I'm afraid I have some connectivity problems. But in my mind I woke up, turned on my platform, shorted @ 76.52 the break of the 8:05am bar's low looking for a lower low, and trailed a stop to cover @ 76.17 because price had gone "too low"...

You're welcome. Al Brooks is a tough read. Start at the back of the book, read the glossary first (or you'll have NO idea what he's talking about in the meat of the book) until you're completely befuddled. This places your brain in a state of semi-coma, which makes you then receptive to the...