Day Trading Stocks & Futures

sridhga

Well-Known Member
I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive, overlapping red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line which he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.
 
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I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his books book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.
Thanks.

Also, if a member finds any posts against the forum policy, there is always the option of reporting the posts instead of responding to them.

Such positive contribution too is appreciated.
 
I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his books book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.
This has nothing to do with primitive trader and his antics. I made a comment.That was modified by moderators
 
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I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his books book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.
This stems from inefficiency of ppl to understand that others can be right, they just think whatever they know is right and everyone else in the world should follow them. “Rules” say this,say that, who made the rules? they are just authors who published what they thought is right. PT takes effort in publishing and charting what he knows, instead of trolling ppl can simply ignore or learn.
 

mohan.sic

Well-Known Member
I really do not want to get into the middle of this dispute. Please stop trolling his charts. His drawings do have a basis. Al Brooks in his book "Trading Ranges" stated that you can draw the lines at the end of the bar or at the body and you can start at the opening of the first bar and then you can draw it to the high of the last bar etc. He basically meant all possibilities are valid. Regarding that line which passed through a green candle and a subsequent red candle bodies, it is not wrong. I will give two reasons. If you look at a higher time frame, an outlier pair of consecutive red and green candles becomes a tail. So, he just drew across the tail. The other reason is that those candles just crossed the line which he drew and immediately pulled back. This is a sign which tells that the line he drew was respected.
Guys, please note that the purpose of those drawings is to understand market behavior. Learning geometry is not our goal here.
Please do not think I am taking sides here. I read those Al Brooks books and am merely expressing my thoughts based on what is mentioned in those books.
Moreover, please do not fight or troll. If you did not like something related to analysis, please ignore. But if somebody is talking about politics etc then report to the admins. This approach works well for trading discussion and our trading health too.


Now it clear that lines can go through the head, bodies and tails , start anywhere and go anywhere and end any where. :)
And We can take a reference from some book ( disregarding the situations, nature of markets, and times when books were written) and justify every unrealistic thing.

Anyways, Thanks for explaining about the Basis of the charts, thanks for the Trendlines, Thanks for responding on behalf of other member.
Thanks for letting know that learning geometry is not the goal here. :)
 

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