How to apply Brooks' PA?

[dozu888]

What 'pieces' have you found especially helpful?

The idea of PA is story telling... so intraday the story can be very dry, and not easy to interpret.. you ready the entire Brooks book, regardless if the whole thing is profitable or not, the themes are simple - supply and demand.

if you read my thread you can see the daily chart story is a lot more colorful, with professionals using media outlets to scare the public... so you have more pieces to put together the puzzle with, and when you come up with the true story, it is more convincing.

 

[padutrader]

I don't day trade... there are more 'pieces' you can use on the daily chart... right now there are no thoughts .... the market move is in sync with what unfolded since the Feb shake down.

i sent you a pm in error by mistake please ignore

 

[_eug_]

Does Brooks talk about Market Structure? Context of larger time frame etc?

 

[padutrader]

one more trade using bpa : an ema gap bar short .see chart

 

[Alfing]

if you read my thread you can see the daily chart story is a lot more colorful, with professionals using media outlets to scare the public... so you have more pieces to put together the puzzle with, and when you come up with the true story, it is more convincing.

I've read your post a couple of times. Have you come up with this approach yourself? Where can one learn more about basic elements of this approach?

 

[padutrader]

Does Brooks talk about Market Structure? Context of larger time frame etc?

he does but he is compulsive trader....he says he keeps seeing little bags of money on offer which he cannot refuse.
but i would stick to his earlier writings or video courses his more recent publications are unnecessarily complicated or even bizarre

 

[_eug_]

I have no intention to read his work was just curious if there is more to it than just bar by bar.

 

[padutrader]

the result of that bpa ema gap bar trade booked profit after taking screen shot

 

[padutrader]

I have no intention to read his work was just curious if there is more to it than just bar by bar.

it is bar by bar
but if your time frame is hourly or daily or monthly it will work.....but if you want more trades like Brooks did, trade the smaller time frames.

 

[Alfing]

I have no intention to read his work was just curious if there is more to it than just bar by bar.

No, in fact, he states at the beginning of his book,

" The most useful tools for under standing price action are trendlines and trend channel lines, prior highs and lows, breakouts and failed breakouts, the size of bodies and tails on candles, and relationships between the current bar to the prior several bars. In par ticular, how the open, high, low, and close of the current bar compare
to the action of the prior several bars tells a lot about what will happen next. Most of the observations in this book are directly related to placing trades, but a few have to do with simple curious price action tendencies without suffi cient dependability to be the basis for a trade. "