yes edwards and maggee is also dumb
you are right i will tell brooks to contact you so that you can teach him
Is Al Brooks the solution to false breakouts?
- Thread starter Saigyou_123
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you are right i will tell brooks to contact you so that you can teach him
bye see you i have flight to bahamasThe 2 most common substances in the universe are hydrogen and stupidity; wonder where the argument on Al falls? But it might be moot: Al has his own currency now - called Brooks Bucks.
I just read Al's newest book "Live Trading Price Action on Mars".
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A very general statement with no credible argument.
"Al Brooks does not trade, has no trade data"
People who read his books are looking for the technical analysis subject he presented through a framework. His trade data is not relevant.
"is not an NFA member"
Does not mean anything.
"but is really a book salesman"
Nothing wrong in selling books
"There are a thousand such sites that measure nothing, trade nothing ever and go on to claim something"
A very general statement without any references that are relatable to Brooks approach
"we struggle and fumble around trying understand and apply"
No wonder.
The 2 most common substances in the universe are hydrogen and stupidity; I know where you are. If its a struggle for you, ask Al.
You are making random statements without proving what is not working with Al Brooks' approach. People reading this thread can easily understand that Brooks' books are beyond your intellectual capacity. Besides that, you should be visiting a psychiatrist to solve your random statement issues.
Further to what I said earlier, I would note that:
1. On the one hand, at the bottom of each valley, there was great volume, which would suggest that many people were buying in, because they believed that 80 USD was cheap for this stock.
2. On the other hand, the lows are getting progressively lower. We can compare the lows on August 19, 2021, September 21, 2021 and October 29, 2021, for instance. This suggests that the bulls are having difficulty keeping the price up, and that there may eventually be a collapse in price. (The larger picture is in fact an ascending triangle in reverse.)
3. The repeated whipsaw action suggests that we may already be in a distribution phase. The highs are progressively higher, but not by much (e.g. August 27, 2021, October 22, 2021, November 24, 2021, etc.). This increases the danger of buying in at this point.
4. We are still above the 200-day moving average. The ascent after the October 29, 2021 ultra-high volume low is a rejection of a potential fall below the 200-day moving average.
2. On the other hand, the lows are getting progressively lower. We can compare the lows on August 19, 2021, September 21, 2021 and October 29, 2021, for instance. This suggests that the bulls are having difficulty keeping the price up, and that there may eventually be a collapse in price. (The larger picture is in fact an ascending triangle in reverse.)
3. The repeated whipsaw action suggests that we may already be in a distribution phase. The highs are progressively higher, but not by much (e.g. August 27, 2021, October 22, 2021, November 24, 2021, etc.). This increases the danger of buying in at this point.
4. We are still above the 200-day moving average. The ascent after the October 29, 2021 ultra-high volume low is a rejection of a potential fall below the 200-day moving average.
Short of a crystal ball, it is not possible to predict with certainty what will happen. However, given my current level of knowledge (which is very low, since I am quite new to this),
1. If I already bought in at a low price level, I would hold until price hits the 200-day moving average.
2. If I have not already bought in, I would buy in at 90 USD with tight stop loss.
3. Alternatively, I may buy in during the ascent from the next valley, if volume is decreasing. (I would interpret volume decreasing as those sellers, who want to sell, gradually selling off and decreasing in number. The conclusion then would be that, once those sellers have all sold off, price should increase on low volume, then volume will increase again as price continues to increase, until a peak is reached.)
2. If I have not already bought in, I would buy in at 90 USD with tight stop loss.
3. Alternatively, I may buy in during the ascent from the next valley, if volume is decreasing. (I would interpret volume decreasing as those sellers, who want to sell, gradually selling off and decreasing in number. The conclusion then would be that, once those sellers have all sold off, price should increase on low volume, then volume will increase again as price continues to increase, until a peak is reached.)
What is everyone's thought on this? Have I made any mistake with this analysis?
Overall, I think you are on the right track. Find a stock or whatever you think is going to go up and look for optimal entry points. There is no one right or wrong answer to this. I bought this today as an anticipation break out with a half position. Stock rallied from 38, hit the high, pulled back and bounced right back to the high. Looks like it wants to rip higher. Another good entry point could have been the white candle that was formed on the 50 day SMA. If this stock rips higher I will buy the other half of the position.
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these posts are meant to irritate.do not analyze them.
so i irritate them back.
there are very few posts of value here so do not expect to find diamonds in the sewer.
i just come here when i have nothing to do