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target increased to .7705

the blue line is a copy of the yellow and dragged to the low.....any breakout of the blue line which fails, will be a long entry.....incidentally the target is placed just below the blue line, at an over extension of the channel line, which is a good place according to brooks to look to take...

blue line is the first leg or attempt down and the yellow line is the ongoing second attempt or leg down......a trend line break is necessary to even consider a long or a closing of shorts if that is not forth coming the target may be extended https://www.tradingview.com/x/tyWvrgYS/

this is a two leg move shown by white line, a two leg test of the swing low shown by blue line....a further down move will indicate that, since two legs is a corrective move, that failed, any further move down is not a corrective one but a new down trend. any up move will mean a resumption of...

the two moves marked by the two white lines show two failed attempts to resume the up trend shown by the blue line so is a L2 short.....a lot of traders understood this as can be seen by the big down bar.....https://www.tradingview.com/x/RYOi8Dby/

added one more position short.....tried to reverse the down move and failed: broke the bear trendline and then failed..so a failed breakout above the trend line. this is second entry short entered .7733 stop same as before .7744 same target as before .7713

sold .77395 stop .77444...target .7713....a measured move down. it is also a second entry short.....a double top bear flag a larger pull back and a possible second leg down....

stop tirggered

long trade entered......two positions .77441......stop .77370....one position target RR1 at .77531, top of spike, second position target at .77653

waiting for a pull back to the white line. which may set up an entry.https://www.tradingview.com/x/wCojEY6D/

stop triggered.

the market did form a wedge which went to the minimum target of a wedge.......if it goes further this will lead to a measured move of the wedge. which is the top of spike marked with red line https://www.tradingview.com/x/I540eXlo/

trading is about having an edge....nothing else. i think trading pull backs does give one......this project will show whether that is true or not.....intend to record it for 2-3 years..... i hope it will prove useful for everyone here it was something i did not do earlier and hope to show...

well i am following brooks strictly and i believe there is an edge in doing this.....so 2-3 trades a day for 2-3 years and we will know

this is not an ideal pull back trade it was pull back from spike.....sometimes the market, after forming a channel, pulls back to the start of the spike but is ok just the start the ball rolling. if the stop hits i will see if a set up is triggered to give a long entry target top of spike...

because i do not want to

i will be trading second entries....what are second entries. Brooks gives an explanation in his first book.....the relevant passage reproduced here.

this is a L2 short at ema. a pull back the ema. the signal bar is marked with red entry is made when the low of the signal bar is taken out. stop and target is as marked..target is 2R

i will take trades here according to his first book....in demo.

it is ridculous to say what he teaches in his first book does not work. because what he teaches is basic technical analysis. so if you say brooks is a scam then the whole of technical analysis is a scam too. i am not here to prove or disprove anything. for a beginner brooks is good and...