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In Reading Price Charts Bar by Bar, Al Brooks-a technical analyst for Futures magazine and an independent trader-demonstrates how the information gleaned from this method can significantly enhance trading returns, while minimizing downside risk. Written with the serious trader in mind, this book reveals how to read the information content of every bar on a price chart, and manage trades all day long. It also provides a unique understanding of how to visualize entry and exit points as markets are trading in real-time. There is an important niche in technical analysis and price action: the bar-by-bar analysis of price charts. Brooks shows readers how to take advantage of the information this approach offers, and make great trades along the way.
Al Brooks, MD (Roseville, CA), is a technical analysis contributor to Futures magazine and an independent day trader. His approach to reading price charts was developed over a 20-year period in which he changed careers from ophthalmology to trading. He graduated from the University of Chicago Pritzker School of Medicine and received his BS in mathematics with honors from Trinity College.
In Reading Price Charts Bar by Bar, Al Brooks-a technical analyst for Futures magazine and an independent trader-demonstrates how the information gleaned from this method can significantly enhance trading returns, while minimizing downside risk. Written with the serious trader in mind, this book reveals how to read the information content of every bar on a price chart, and manage trades all day long. It also provides a unique understanding of how to visualize entry and exit points as markets are trading in real-time. There is an important niche in technical analysis and price action: the bar-by-bar analysis of price charts. Brooks shows readers how to take advantage of the information this approach offers, and make great trades along the way.
Al Brooks, MD (Roseville, CA), is a technical analysis contributor to Futures magazine and an independent day trader. His approach to reading price charts was developed over a 20-year period in which he changed careers from ophthalmology to trading. He graduated from the University of Chicago Pritzker School of Medicine and received his BS in mathematics with honors from Trinity College.
AL BROOKS is a technical analysis contributor to Futures magazine and an independent day trader. Changing careers from ophthalmology to trading twenty years ago, he discovered consistent success and profitability as a trader once he developed his unique approach to reading price charts. He graduated from the University of Chicago Pritzker School of Medicine and received his BS in mathematics with honors from Trinity College.
Preface xiii
CHAPTER 1 Price Action 1
Trend Bars and Doji Bars 7
Bar Basics: Signal Bars, Entry Bars, Setups, and Candle Patterns 11
Signal Bars: Reversal Bars 13
Signal Bars: Other Types 17
Outside Bars 36
The Importance of the Close of the Bar 42
Exchange Traded Funds (ETFs) and Inverse Charts 45
Second Entries 46
Late and Missed Entries 49
CHAPTER 2 Trendlines and Trend Channels 51
Trendlines 51
Micro Trendlines: Small, Steep Trendlines in Strong Trends 55
Horizontal Lines: Swing Points and Other Key Price Levels 61
Trend Channel Lines 63
Dueling Lines: Intersecting Trendline and Trend Channel Line 68
CHAPTER 3 Trends 71
Two Legs 75
Signs of Strength 76
Common Trend Patterns 81
Trend from the Open 82
Reversal Day 86
Trend Resumption Day 86
Trending Trading Range Days 88
Tight Channels and Spike and Channel Bull or Bear 91
Stairs: Broad Channel Trend 95
CHAPTER 4 Pullbacks 99
First Pullback Sequence: Bar, Minor Trendline, EMA, EMA Gap, Major Trendline 101
Double Top Bear Flags and Double Bottom Bull Flags 104
EMA and Gap EMA Pullbacks 108
2 HM: If Away from EMA for Two or More Hours, Then Fade EMA and First EMA Gap Bar 110
Trend Day 11:30 Stop Run Pullback to Trap You Out 112
Counting the Legs of a Trend 114
High/Low 1, 2, 3, and 4 118
Variations of High/Low 2 Setups 128
Three Push Pullbacks 132
CHAPTER 5 Trading Ranges 137
Tight Trading Ranges 138
Barb Wire 142
Middle of the Day, Middle of the Range 148
Big Up, Big Down 150
Trading Ranges Setting Up Trend Reversals 152
CHAPTER 6 Breakouts 155
Breakout Entries in Strong Trend 156
Breakout Pullbacks and Breakout Tests 158
CHAPTER 7 Magnets 165
Measured Moves Based on the First Pullback (AB = CD) 165
Measured Moves on Breakouts Based on Thin Areas and on Flags 167
Reversals Often End at Signal Bars from Prior Failed Reversals 171
Other Price Magnets 172
CHAPTER 8 Trend Reversals 175
Trendline Break 184
Trend Channel Line Failed Breakouts: Climaxes, Parabolas, and V Tops and Bottoms 187
Signs of Strength in the First Leg of a Reversal 188
Trends Reverse with a Test: Either an Undershoot or an Overshoot 190
Double Top and Bottom Pullbacks 202
Climax: Spike and Trading Range Reversals 207
Climax: Three Pushes and Wedges (Trend Channel Line Overshoots and Reversals) 210
Expanding Triangles 215
CHAPTER 9 Minor Reversals: Failures 221
Failed Signal and Entry Bars and One-Tick Failed Breakouts 222
Failed High/Low 2 226
Failed Higher High and Lower Low Breakouts 229
Failed Trendlines and Trend Channel Lines 234
Failed Reversals 239
Failed Final Flags: Tight Trading Range 243
Failed Final Flags: Huge Trend Bar 245
Failed Wedges 247
Failed Scalps: Five-Tick Failed Breakouts and Failure to Reach a Scalper's Profit Target 251
CHAPTER 10 Day Trading 255
Selecting a Market 256
Time Frames and Chart Types 258
Globex, Pre-Market, Post-Market, and Overnight Market 267
Scalping, Swinging, Trading, and Investing 269
Always in the Market 273
Have at Least Two Reasons to Enter a Trade 275
Entering on Stops 277
Protective Stops and Getting Trapped In or Out of a Trade 281
CHAPTER 11 The First Hour 289
Patterns Related to the Premarket 291
Patterns Related to Yesterday 292
Trend Bar on Gap Open: First or Second Bar 302
Gap Openings: Reversals and Continuations 303
Trend from the Open or Trend from the First Bar 305
Third Bar of the Day and the 15-Minute Close 310
Strong Trend Bars in the First Hour Often Predict Strength Later in the Day in the Same Direction 311
Opening Patterns and Reversals 313
Double Bottom and Double Top Flags 317
Trading Range Breakouts 319
First Pullback 321
CHAPTER 12 Detailed Day Trading Examples 325
CHAPTER 13 Daily, Weekly, and Monthly Charts 331
Huge Volume Reversals 343
CHAPTER 14 Options 347
CHAPTER 15 Best Trades 353
Major Reversals 357
Minor Reversal Scalps during Trading Range Days 368
Pullbacks in a Strong Trend 369
Intraday Stocks 374
Trading Guidelines 381
Glossary 387
About the Author 395
Index 397
| Erscheinungsjahr: | 2009 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| Inhalt: | 432 S. |
| ISBN-13: | 9780470443958 |
| ISBN-10: | 0470443952 |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: | Brooks, Al |
| Hersteller: |
Wiley
John Wiley & Sons |
| Maße: | 235 x 157 x 28 mm |
| Von/Mit: | Al Brooks |
| Erscheinungsdatum: | 04.05.2009 |
| Gewicht: | 0,62 kg |
AL BROOKS is a technical analysis contributor to Futures magazine and an independent day trader. Changing careers from ophthalmology to trading twenty years ago, he discovered consistent success and profitability as a trader once he developed his unique approach to reading price charts. He graduated from the University of Chicago Pritzker School of Medicine and received his BS in mathematics with honors from Trinity College.
Preface xiii
CHAPTER 1 Price Action 1
Trend Bars and Doji Bars 7
Bar Basics: Signal Bars, Entry Bars, Setups, and Candle Patterns 11
Signal Bars: Reversal Bars 13
Signal Bars: Other Types 17
Outside Bars 36
The Importance of the Close of the Bar 42
Exchange Traded Funds (ETFs) and Inverse Charts 45
Second Entries 46
Late and Missed Entries 49
CHAPTER 2 Trendlines and Trend Channels 51
Trendlines 51
Micro Trendlines: Small, Steep Trendlines in Strong Trends 55
Horizontal Lines: Swing Points and Other Key Price Levels 61
Trend Channel Lines 63
Dueling Lines: Intersecting Trendline and Trend Channel Line 68
CHAPTER 3 Trends 71
Two Legs 75
Signs of Strength 76
Common Trend Patterns 81
Trend from the Open 82
Reversal Day 86
Trend Resumption Day 86
Trending Trading Range Days 88
Tight Channels and Spike and Channel Bull or Bear 91
Stairs: Broad Channel Trend 95
CHAPTER 4 Pullbacks 99
First Pullback Sequence: Bar, Minor Trendline, EMA, EMA Gap, Major Trendline 101
Double Top Bear Flags and Double Bottom Bull Flags 104
EMA and Gap EMA Pullbacks 108
2 HM: If Away from EMA for Two or More Hours, Then Fade EMA and First EMA Gap Bar 110
Trend Day 11:30 Stop Run Pullback to Trap You Out 112
Counting the Legs of a Trend 114
High/Low 1, 2, 3, and 4 118
Variations of High/Low 2 Setups 128
Three Push Pullbacks 132
CHAPTER 5 Trading Ranges 137
Tight Trading Ranges 138
Barb Wire 142
Middle of the Day, Middle of the Range 148
Big Up, Big Down 150
Trading Ranges Setting Up Trend Reversals 152
CHAPTER 6 Breakouts 155
Breakout Entries in Strong Trend 156
Breakout Pullbacks and Breakout Tests 158
CHAPTER 7 Magnets 165
Measured Moves Based on the First Pullback (AB = CD) 165
Measured Moves on Breakouts Based on Thin Areas and on Flags 167
Reversals Often End at Signal Bars from Prior Failed Reversals 171
Other Price Magnets 172
CHAPTER 8 Trend Reversals 175
Trendline Break 184
Trend Channel Line Failed Breakouts: Climaxes, Parabolas, and V Tops and Bottoms 187
Signs of Strength in the First Leg of a Reversal 188
Trends Reverse with a Test: Either an Undershoot or an Overshoot 190
Double Top and Bottom Pullbacks 202
Climax: Spike and Trading Range Reversals 207
Climax: Three Pushes and Wedges (Trend Channel Line Overshoots and Reversals) 210
Expanding Triangles 215
CHAPTER 9 Minor Reversals: Failures 221
Failed Signal and Entry Bars and One-Tick Failed Breakouts 222
Failed High/Low 2 226
Failed Higher High and Lower Low Breakouts 229
Failed Trendlines and Trend Channel Lines 234
Failed Reversals 239
Failed Final Flags: Tight Trading Range 243
Failed Final Flags: Huge Trend Bar 245
Failed Wedges 247
Failed Scalps: Five-Tick Failed Breakouts and Failure to Reach a Scalper's Profit Target 251
CHAPTER 10 Day Trading 255
Selecting a Market 256
Time Frames and Chart Types 258
Globex, Pre-Market, Post-Market, and Overnight Market 267
Scalping, Swinging, Trading, and Investing 269
Always in the Market 273
Have at Least Two Reasons to Enter a Trade 275
Entering on Stops 277
Protective Stops and Getting Trapped In or Out of a Trade 281
CHAPTER 11 The First Hour 289
Patterns Related to the Premarket 291
Patterns Related to Yesterday 292
Trend Bar on Gap Open: First or Second Bar 302
Gap Openings: Reversals and Continuations 303
Trend from the Open or Trend from the First Bar 305
Third Bar of the Day and the 15-Minute Close 310
Strong Trend Bars in the First Hour Often Predict Strength Later in the Day in the Same Direction 311
Opening Patterns and Reversals 313
Double Bottom and Double Top Flags 317
Trading Range Breakouts 319
First Pullback 321
CHAPTER 12 Detailed Day Trading Examples 325
CHAPTER 13 Daily, Weekly, and Monthly Charts 331
Huge Volume Reversals 343
CHAPTER 14 Options 347
CHAPTER 15 Best Trades 353
Major Reversals 357
Minor Reversal Scalps during Trading Range Days 368
Pullbacks in a Strong Trend 369
Intraday Stocks 374
Trading Guidelines 381
Glossary 387
About the Author 395
Index 397
| Erscheinungsjahr: | 2009 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| Inhalt: | 432 S. |
| ISBN-13: | 9780470443958 |
| ISBN-10: | 0470443952 |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: | Brooks, Al |
| Hersteller: |
Wiley
John Wiley & Sons |
| Maße: | 235 x 157 x 28 mm |
| Von/Mit: | Al Brooks |
| Erscheinungsdatum: | 04.05.2009 |
| Gewicht: | 0,62 kg |
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