balllightning3

A thought about volume. For example, given that it has been a bull trend day, by following Al's trading logic, you should be looking to buy H2 or even H1 breakout pullbacks. Given the strength demonstrated by the bulls overall, should we expect to see higher volume on the bull trend bars vis-a-vis the bear trend bars? Much of the bear pullback bars can be accounted to previous long taking profits, so should we be seeing lighter volume on these bear pullbacks? That's just what I think, and I could be totally off. Appreciate some critique.

Hi, I have been reading Al Brook's "Reading Price Charts Bar by Bar". Though not a newcomer to TA or PA, I have been having problems grasping some of the concepts put forward by Al. I hope someone will be able to shed some light on my queries and explain them in more "layman" terms. I greatly appreciate any help at all. 1. The first thing i'm having problems understanding are the high/low 1,2,3,4. In the book, the author proposes that a reliable sign that a pullback in a bull or trading range (converse is true) has ended is when the current bar's bar extends at least one tick above (below) the high of the prior bar, hence forming a high/low 1. My question is, do you have to wait for a pullback before you start counting the high/low bars? What about days that trade mostly flat. How then do you apply the counting of High/Low bars? Also, how do you know WHEN to start counting? I am also puzzled by the fact that there are many examples in the charts in the book whereby the high of the High1 bar does not exceed the high of the previous bar but is still labeled as a High1 bar. 2. Another question I have is that, in the book, a 20 EMA is used in the charts for the ES. I would like your opinions as to would I need to make a change to the time interval of the EMA I if I traded another market, such as maybe corn, or forex? What about if I were using a different time interval, or even a different type of chart (tick chart) Once again, I am very thankful for anyone who can help me with these questions. IKZ