i think brooks would prefer to buy above the first bull bar that closes on it's high........
also what is pb and what is just a pause........Brooks call it a pb [bull flag ] if the low of at least one a bear bar, is broken
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also what is pb and what is just a pause........Brooks call it a pb [bull flag ] if the low of at least one a bear bar, is broken
Closing on it’s high IS of course closing above it’s midpoint. But he does talk about that when price is in a bull trend and in a PB that going long on any bar (bear or bull) in the PB that closes above it’s midpoint is often good for a scalp.
In a bull trend a countermove will either be a PB (bull flag), a reversal to a bear trend, or a reversal into a TR. looking at prior PB’s in the original bull trend is useful for determining if the present PB will be just that or if it will be a reversal.
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...Channels this time?
Last week you concentrated on wedges and before that on H2L2's...
It just shows that it is complicated.
You tried the whole package for years and now you're breaking it down into seperate pieces;
which might not a bad idea.
Master one and add something later...
that is what brooks says.
i am studying wedges too.......and pull backs
the important thing is to see the basic patterns.
breakouts...break out points.....pull backs.....and then breakout again.......so this is one thing that the market does all the time........
what is happening is the first step......then comes stop but if you know what is happening stop is very apparent
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anything will be complicated if you are not systematic.
how to find trading opportunities?
look for beakouts, break out points , pauses, pull backs-two legs, wedges- and then break out again......this is what the market does.
the wedge may fail and you may get break out in the other direction .....then enter the breakout after a pause ,PB, wedge, you are now systematically approaching the market and trading
how to identify a break out?
Brooks says a break out should be striking.
so it is a subjective thing but while it is so, Brooks says break outs will or should be seen as "obvious"
Brooks says a break out should be striking.
so it is a subjective thing but while it is so, Brooks says break outs will or should be seen as "obvious"
I come at you with a lotus flower, to try and open up a new dialogue with you in peace.
The question you should be asking yourself is, "What does the market do MOST OF THE TIME?"
The question I believe is what you say, not what Brooks says.
I can tell you what Bruce Lee says:
-Research your own experience
-Absorb what is useful
-Reject what is useless
-Add what is specifically your own
it is what brooks says