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[godfather]

DSM,
Whats your view about Al-brooks Price action trading

 

[kumudhan]

wrong reply.....

 

[karunakumari]

where you searched kumari?

Hi Kumudhan,

These are not books. They are just some free presentations which Pristine made for free distribution. Check if you can find the book "Tools and Tactics for the Master DayTrader : Battle-Tested Techniques for Day, Swing and Position Traders".

Karuna

 

[DSM]

Godfather,

I have read Al Brooks - Reading price action charts Bar by Bar..... He is ofcourse a legend. His book is informative. Though I paid for the book and read it, in my opinion I learnt more from Nial Fuller's free site. Maybe it could be because of his style of explanation, where he talks about major setups - which makes complete sense. Also, he talks about psychology, risk, money management etc.... You can also join him on FB.

DSM,
Whats your view about Al-brooks Price action trading

 

[godfather]

Godfather,

I have read Al Brooks - Reading price action charts Bar by Bar..... He is ofcourse a legend. His book is informative. Though I paid for the book and read it, in my opinion I learnt more from Nial Fuller's free site. Maybe it could be because of his style of explanation, where he talks about major setups - which makes complete sense. Also, he talks about psychology, risk, money management etc.... You can also join him on FB.

that's nice... will try to join in FB...

 

[karunakumari]

DSM, in the attached chart, can you point out the name of the strategy? I saw a similar post by Oliver in one of his video on youtube. But I don't know the name of the strategy. Thanks!

 

[DSM]

Well, if you read the chart, it has 20 MA, which is used as a visual guide. The trend is obviously down as can be seen basis Lower Low, MA slope is also down, and failure of the pullback to the 20 MA. The trade setup is using a combination of Price Action, Psychology and failure of trend reversal:

The three bar upmove is to force the shorts to cover – (this is psychology), entry is made when this fails, (Price Action – entry below low of the previous bar – and Trend reversal – failure of pullback)

A word of caution here while using MA – Post facto, the slope of MA is looking perfect for shorting now, however on the day of the pullback, the MA slope would be quite different. The down bars have pulled the MA lower, and AFTER this has happened, the opportunity to short looks perfect – A problem that happens while using indicators.

DSM, in the attached chart, can you point out the name of the strategy? I saw a similar post by Oliver in one of his video on youtube. But I don't know the name of the strategy. Thanks!

 

[karunakumari]

Thanks DSM. Yes, I agree that indicators/oscillators are lagging and one must ignore them. But in the above image, I used it only to see the location(whether price is near 20SMA or not) and not for trend.

However, there is one more thing that I want to ask you. I took the attached image from Nial Fuller's site. Can you tell what is the period of the moving averages used in the attached image. Thank you!

 

[DSM]

Nail Fuller uses 8 and 21 EMA's... (21 representing trading days in a month, and another shorter indicator of 8 days - representing approx. 1:3 time ratio )

Thanks DSM. Yes, I agree that indicators/oscillators are lagging and one must ignore them. But in the above image, I used it only to see the location(whether price is near 20SMA or not) and not for trend.

However, there is one more thing that I want to ask you. I took the attached image from Nial Fuller's site. Can you tell what is the period of the moving averages used in the attached image. Thank you!

 

[DSM]

Oops... deleted. Wrong post.