I have bought Al Brooks' Trading Course

[Q3D]

i don't trade 5 min bar charts.

I'm not sure he has any original teachings on PA that can't be found with Google other than 5-minute bar ES observations.

 

[Visaria]

The methodology is not time specific i.e. you can apply his teaching to daily bars, weekly bars etc.

 

[SuperVolatility]

The dotted line is my break even. I entered near the top of the last large bull bar near the top of the tail. It was retesting the broken uptrend within the range, it was near the top of the range, it was testing a smaller time frame trend, and was just under resistance shown with the longer line from the last significant pivot low before the non-farms across the high of the range. That was 4 reasons for me to fade the play while the bar was still a huge green bar. The risk was the top of the range, about 15 pips including the spread. The convergence of trend lines were all below the range high.

Regarding Brooks, he likes to have 2 reasons to take a trade. He (and many others most certainly) discuss taking trades at broken TL (S&R) retests, taking trades at TL's, and fading range tops and bottoms. This is a 60, though I was looking at the 5, 15, 30, and 60 when I entered. In addition, there were two legs up on the 15, setting up a possible low 2 on that time frame near the top of the range (another reason to enter, though I didn't want to wait for the low 2 to complete). This chart was screen shot at 3:43 central US today.

Some of my reasons for taking this trade came from my study of Brooks, others from my own experience. I don't think he would consider this a high probability trade, though...I have forgotten what he says regarding probabilities at range edges. I haven't gotten back to that in my review of his video slides...this may be more higher RR but lower probability. I took 1/3 off at 15 pips, moved stop to break even, 1/3 at 30 pips, and looking for about 50 near the bottom of the range.

View attachment 159082

just quick look at your chart, sharing my possible setups

 

[wjk]

just quick look at your chart, sharing my possible setups
View attachment 159530

I wasn't trading at the time of the EMA gap, but that trade has some good reasons to enter. It's an EMA gap + low 3 among other reasons. There is resistance just above + a successful test of a down TL from the top of the giant bear bar to the doji prior to the gap bar (not shown). Personally, I might have paused because the recent uptrend hadn't broken yet, though it looks like the small tail on top of the big bear that followed the EMA gap bar may have been a retest of a micro uptrend drawn from the low 2 tail to the doji bottom tail prior to the bear gap bar. I hope you took the trade!

If I had taken the EMA gap trade, I would have taken half at the prior low 1 tail, and covered the remainder above the prior double bottom, especially since it didn't quite get there. I would have used a lower time frame to make that call (a brooks no-no), but I like to use multiple frames when I trade. How would you manage that play?