I have come to the conclusion, over several years, that Al Brooks is one of the biggest frauds in the trading industry. Check out his site http://www.brookspriceaction.com , he has no profitable students, doesn't care about that, and is clearly just looking for money.
Brooks claims the measured move is his discovery, he claims, three-push patterns, wedges, triangles, etc are his, none of these are his discoveries.
The biggest fallacy Brooks commits is the subliminal trick he uses to pitch his products, which is that if you label certain candlestick patterns in a logical manner that it is understandable and can be traded for profit. If I watched Brownian motion long enough I could come up with logical names for certain patterns I occasionally see, but what predictive value would that have, in a random system, in determining when and at what probability that behavior will transition to another predictable outcome?
Brooks claims the measured move is his discovery, he claims, three-push patterns, wedges, triangles, etc are his, none of these are his discoveries.
The biggest fallacy Brooks commits is the subliminal trick he uses to pitch his products, which is that if you label certain candlestick patterns in a logical manner that it is understandable and can be traded for profit. If I watched Brownian motion long enough I could come up with logical names for certain patterns I occasionally see, but what predictive value would that have, in a random system, in determining when and at what probability that behavior will transition to another predictable outcome?
