albrooks

Hi, everyone, I am considering maintaining a site and have begun working on one yesterday. I am new at this so it isn't very professional. At some point, I may have some kind of subscription service but I am not certain yet if I would be able to commit to maintaining it long term. I will not do it if I feel I cannot make the commitment. Here is the link to the site: brookspriceaction - Home I apologize for it being in its infancy and not providing much information but I will try to learn more about maintaining a website and then try to improve on the information that is there. Thanks, Al

you could short the L2 but it followed an outside up bar and i prefer to wait for 2 legs AFTER the surge up from that bar ended (it ended on the next bar). also, BW = I prefer to wait until someone is clearly trapped, and when the BW is below the EMA (here it is AT the EMA rather than below; is anything, it is slightly above but this is now a bear trend), the odds are that it will break to the downside so i prefer to wait to see if some bulls get trapped, and they did, on the failed H2 above the EMA. remember, the mkt broke a TL and a TCL and reversed, and formed a LH. this move up was a second attempt to reverse the new bear and it formed a DT bear flag. the mkt was now in a bear trend until it proves otherwise so i was focusing on opportunities for swings on the short side.

the move to 930 was a two legged sideways move that had 2 smaller 2 legged moves in it. as the move traveled sideways, it broke the trendline from yesterday and this move became a large possible Final Flag, so I was looking for reasons for the trend to turn down. The false BO of the top of the channel was perfect and the trend was then down from there unless something else developed, which it did not. tcl trend channel line bw barb wire dt double top (bear flag)...the Lower High was in the form of a Double Top Bear Flag

these were my favorite trades from yesterday

fwiw, the daily chart is forming Barb Wire after a protracted move and this usually results in a reversal. Most of the time, it becomes a Failed Flag, popping out of the top and then reversing, but it could just sell off. The pullback should reach the start of the channel in this Spike and Channel bull off the March low, and that is around 750 - 780. Then, we should make one more leg up to a Higher High, creating a Wedge on the daily, and this would be followed by a test of the bear low (Higher Low or Lower Low) before trying to go up again. BBBUUUUTTTTT, this is all coming from a guy who makes most of his money off daytrading, so it is simply intellectual gibberish for those interested in applying Price Action to a daily chart. As the chart unfolds, other scenarios can become more likely. Good luck everyone! Al