Bhel puri...Improving Brooks the Padu Way

easymon1 · Apr 26, 2022

https://elitetrader.com/et/threads/charts-for-no-reason.344272/page-22#post-5585199
I like listening to Al Brooks clips.
He makes good points along the way... like this one that is illustrated in the chart linked above.
cued....

Al Brooks double top journal ...
Webster - thorough ; marked by full detail; b · careful about detail : painstaking; c · complete in all respects
DP Double Top Pullback or Double Bottom Pull Back
DT Double Top, or two consecutive bars with identical highs
DTBF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTBRF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTHH Double Top Higher High is a double top where the 2nd top is higher
DTLH Double Top Lower High is a double top where the 2nd top is lower
DTMTR Double Top Major Trend Reversal
DTPB Double Top Pullback means there is a reversal down from a double top and the bears will sell below the pullback bar, especially if it closes near its low
HHDT Higher High Double Top is a double top where the 2nd high is higher
L2 Two legged PullBack in a bear move, but it can also be a 2nd reversal down from a rally, so variation of a double top
LHDT Lower High Double Top is a double top where the 2nd top is lower
MDT Micro Double Top
NDT Nested Double Top
TRO Trading Range Open means 2 or more reversals in 1st hour. Usually mostly a limit order market and Breakout Mode. The bulls will look for a double bottom or wedge bottom and then a swing up. The bears want a double top or wedge top and then a swing down.
VT V Top which means a strong reversal down from a buy climax without first forming some kind of a double top
BGD Big Gap Down so 80% chance of at least one reversal in first hour. The bears want a double top or wedge top on a pullback to near the EMA. The bulls want a double bottom or wedge bottom for an early low of the day.
BGU Big Gap Up so 80% chance of at least one reversal in the first hour. The bulls want a double bottom or wedge bottom on a pullback to near the EMA. The bears want a double top or wedge top for an early high of the
https://www.brookspriceaction.com/acronyms.php

nooby_mcnoob · Apr 26, 2022

If Brooks told us exactly how he came up with these phantom statistics 40%, 60%, I'd be inclined to trust what he says more.

Laissez Faire · Apr 27, 2022

nooby_mcnoob said:
If Brooks told us exactly how he came up with these phantom statistics 40%, 60%, I'd be inclined to trust what he says more.

Basically, he just makes them up or answers based on a "hunch" or "memory".

Overnight · Apr 27, 2022

easymon1 said:
https://elitetrader.com/et/threads/charts-for-no-reason.344272/page-22#post-5585199
I like listening to Al Brooks clips.
He makes good points along the way... like this one that is illustrated in the chart linked above.
cued....

Al Brooks double top journal ...
Webster - thorough ; marked by full detail; b · careful about detail : painstaking; c · complete in all respects
DP Double Top Pullback or Double Bottom Pull Back
DT Double Top, or two consecutive bars with identical highs
DTBF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTBRF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTHH Double Top Higher High is a double top where the 2nd top is higher
DTLH Double Top Lower High is a double top where the 2nd top is lower
DTMTR Double Top Major Trend Reversal
DTPB Double Top Pullback means there is a reversal down from a double top and the bears will sell below the pullback bar, especially if it closes near its low
HHDT Higher High Double Top is a double top where the 2nd high is higher
L2 Two legged PullBack in a bear move, but it can also be a 2nd reversal down from a rally, so variation of a double top
LHDT Lower High Double Top is a double top where the 2nd top is lower
MDT Micro Double Top
NDT Nested Double Top
TRO Trading Range Open means 2 or more reversals in 1st hour. Usually mostly a limit order market and Breakout Mode. The bulls will look for a double bottom or wedge bottom and then a swing up. The bears want a double top or wedge top and then a swing down.
VT V Top which means a strong reversal down from a buy climax without first forming some kind of a double top
BGD Big Gap Down so 80% chance of at least one reversal in first hour. The bears want a double top or wedge top on a pullback to near the EMA. The bulls want a double bottom or wedge bottom for an early low of the day.
BGU Big Gap Up so 80% chance of at least one reversal in the first hour. The bulls want a double bottom or wedge bottom on a pullback to near the EMA. The bears want a double top or wedge top for an early high of the
https://www.brookspriceaction.com/acronyms.php

So Al Brooks's method was to baffle everyone with his bullshit by labeling every pattern he saw with an acronym, and to label every pattern, whether or not it is a pattern.

DTMTR? REALLY? ROFLMAO

Jzwu2017 · Apr 28, 2022

I watched a few of Al’s YouTube clips. If it ever worked at that time it probably won’t work anymore. PA changes all the time as market gets more and more efficient though it’s still useful to watch his teaching.

ph1l · Apr 28, 2022

Overnight said:
So Al Brooks's method was to baffle everyone with his bullshit by labeling every pattern he saw with an acronym, and to label every pattern, whether or not it is a pattern.

DTMTR? REALLY? ROFLMAO

https://www.brookspriceaction.com/acronyms.php
That page has 1065 abbreviations so far. They range from one through nine characters. His next book could be kept to a few pages if he only used the abbreviations.

easymon1 · Apr 28, 2022

Overnight said:
So Al Brooks's method was to baffle everyone with his bullshit by labeling every pattern he saw with an acronym, and to label every pattern, whether or not it is a pattern.

DTMTR? REALLY? ROFLMAO

Dr. Al's cool. I'd like to see his example charts to illustrate the variety of DT descriptions.
Then ya got these... 99BL 99.5% chance of at least 3 bars with low at least 1 tick below Moving Average at some point today, and then usually soon afterwards get buy signal and new high of day. "Hey Marge, we got a 99BL in store Babe? I'm rubbing my hands together over here. Gonna buy a Boat!
They got cliff's notes versions of his books?

easymon1 · Apr 28, 2022

How can you not like AL?
Kinda fun just by marking up a chart from his cheat sheet.

Look at all his observations on the double.
DP Double Top Pullback or Double Bottom Pull Back
DT Double Top, or two consecutive bars with identical highs
DTBF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTBRF Double Top Bear Flag, so when bear sell signal bar, there is a 40% chance of a breakout below the recent swing low, which is the neck line of the double top, and a measured move down.
DTHH Double Top Higher High is a double top where the 2nd top is higher
DTLH Double Top Lower High is a double top where the 2nd top is lower
DTMTR Double Top Major Trend Reversal
DTPB Double Top Pullback means there is a reversal down from a double top and the bears will sell below the pullback bar, especially if it closes near its low
HHDT Higher High Double Top is a double top where the 2nd high is higher
L2 Two legged PullBack in a bear move, but it can also be a 2nd reversal down from a rally, so variation of a double top
LHDT Lower High Double Top is a double top where the 2nd top is lower
MDT Micro Double Top
NDT Nested Double Top
TRO Trading Range Open means 2 or more reversals in 1st hour. Usually mostly a limit order market and Breakout Mode. The bulls will look for a double bottom or wedge bottom and then a swing up. The bears want a double top or wedge top and then a swing down.
VT V Top which means a strong reversal down from a buy climax without first forming some kind of a double top
BGD Big Gap Down so 80% chance of at least one reversal in first hour. The bears want a double top or wedge top on a pullback to near the EMA. The bulls want a double bottom or wedge bottom for an early low of the day.
BGU Big Gap Up so 80% chance of at least one reversal in the first hour. The bulls want a double bottom or wedge bottom on a pullback to near the EMA. The bears want a double top or wedge top for an early high of the
https://www.brookspriceaction.com/acronyms.php

nooby_mcnoob · Apr 28, 2022

Overnight said:
So Al Brooks's method was to baffle everyone with his bullshit by labeling every pattern he saw with an acronym, and to label every pattern, whether or not it is a pattern.

DTMTR? REALLY? ROFLMAO

This is typical for doctors, because they are pattern matchers.

Jzwu2017 · Apr 28, 2022

Similarly, trading is also about pattern recognition. Unfortunately, stock market pattern changes all the time and that’s why trading is even tougher than being a doctor.