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Book Discussion: Reading Price Charts Bar by Bar by Al Brooks
From what I know, for example, if price has been in a downtrend, the ema gap bar is the
one where a price bar is above the ema and there is a gap between its low and the ema.
For uptrends, it will be a bar which is below the ema and there is a gap between its high and
the ema.
One could look for the first or second occurances of such ema gap bars.
It is my pleasure to welcome Al Brooks for a special webinar as part of our 4-year anniversary ( on nexusfi.com (formerly BMT). The webinar will be on Tuesday, June 4th @ 4:30 PM Eastern US.
Topics include:
- Screen for markets with potential …
Also giving away 10 autographed books during the webinar.
I attended the Al Brooks 4th Anniversary Webinar. I was excellent.I think it was some of the most cogent explanations of what Al is talking about and more importantly thinking about as he trades. It ain't easy but intuitively I just feel he has a very sound approach to trading. It's hard to grasp what he's getting at sometimes but this Webinar cleared up a few things for me. I have his videos and what I've done is edit them down to mostly where he is speaking with a chart on screen, That is where the best information seems to be had. I did it with the Webinar yesterday and it was one of the videos that needed the least editing. Most of what he's talking about he shows pretty darn clearly. See it if you think Al Brooks has something to say about profitable trading. Thanks Big Mike it was worth going Elite for.
Forgive me in advance for replying to a comment that is several years old. I am only about 25% of the way through this thread.
However, I recently watched a webinar by Brooks and he does reference dojis being ignored. Additionally, he states that there are many weak signals that he ignores throughout the day. But I have yet to come across a webinar or thread where he highlights or discusses weak signals in depth.
Moreover, if memory serves, there was some discussion of automating Brooks system and he said that he wouldn't be able to trade his own system if it was automated because he uses a tremendous amount of discretion in the trades he selects.
Weak signals may include much two sided trading in a trend, lack of a recent breakout or a spike move to push further continued movement. A resistance or support level nearby which may restrict further continued movement, and in most recent years, testing new highs in unchartered territory. Simply the signal and entry bar taking far too long to appear and being too small, such as a doji, to represent any conviction. I am sure there are many others, but these come to mind.
