Tribute to Brooks

Good day gentlemen. Carry on. Maybe try to be a little more civil. I can only find so much time for jesting around and counter punching. “Hasta la vista.”
 
longandshort said:
As it stands my contention is that:
- What Brooks describes as market structure is untrue — not every tick is intentional, and you cannot service intention from the chart (e.g. “bulls are holding at XX” is nonsense)
- Price action itself is a vague term, but more importantly, price action is not sufficient to build an expectation of subsequent returns (e.g. a 20% decline in the stock doesn’t tell you if the stock is going to go down more or bounce back up subsequently; more context is needed)
- Candle formations cannot be used to anticipate future returns, because price itself moves randomly between informational events or informed trading
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I agree.
 
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