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anituchka
 

Registered: May 2010
Posts: 101

 

04-25-12 03:49 PM

for some reason, I can only attach one picture to my post. so here is another post.


1. Can bar 45 be considered a signal bar? It formed a double-double bottom with bars 42, 43 and 44.
2. Can bar 50 be considered a signal bar? Double bottom with bar 49?
3. If the answer is no, is there a H2 on this chart at all?

where is h1 and h2.jpg
This has been downloaded 296 time(s).

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usrx201
 

Registered: Sep 2011
Posts: 64

 

08-08-12 08:58 PM

I'd wrestled with this concept for a while too. Finally it made the most sense to me this way. An H1 or H2 bar only occurs after some formed countertrend leg.

per question of previous post. I wouldn't count bar 50 as an H2 because it's effectively still part of a countertrend leg and it's close isn't higher than the high of the previous bear bar.

bar 55 would make more sense as the H2. I usually skip dojis in the context. One could enter aggressively intrabar on 55 if assuming 53 or 54 as effectively the H2 as a stretch.

Brook's also has some concepts which act as "corollarys" to each other. Such as the H1 and H2 successful pattern form a "failed final flag" or a "bull flag".

Also if the H2 failed, then usually two legs would go the opposite way effectively the result of a "double top" or failed H2 and a "failed flag".

where.jpg
This has been downloaded 150 time(s).

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Sam Morgan
 

Registered: Jun 2010
Posts: 390

 

09-04-12 07:58 AM


Quote from FreakofNature:

I read bar by bar, it was so badly written the new trend book would have to be leaps above the first one in writing style for me to even consider.

In fact Brooks might be a good trader but his writing skills are so poor there is a probably a market somewhere in summarizing him and presenting in a well redacted manner.



FoN, I would have thought so too. However, the more I read Al, the more I think he has written it in the best way he could. His level of viewing and dissecting PA is so intense, that it makes it a hard job to write it in black and white.

He has been doing this for many more years than I. Whilst I can see one or two of the concepts he's trying to explain, in his mind there are many more than that running simultaneously. He is trying to put all this in words the best he can, but words have a limit when dealing with the capacity of the human brain. With each read, I am hoping to try and see things more the way he does.

It will take a long time and many "ahha" moments, but I am appreciating his work already.

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oilfxpro
 

Registered: Oct 2007
Posts: 1600

 

09-04-12 08:57 AM

Markets are highly manipulated, do you believe these manipulators will look at charts before manipulating?

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Sam Morgan
 

Registered: Jun 2010
Posts: 390

 

09-04-12 10:42 AM


Quote from oilfxpro:

Markets are highly manipulated, do you believe these manipulators will look at charts before manipulating?



Without corrupting this thread and moving away from the intended topic, I will answer very briefly.

I have to agree that markets are manipulated. However, you have to take into consideration that most trading done these days is via HFT bots. They have predetermined algorithms, which do not get rewritten every now and then. When they do, it is just a minor tweak so as to gain the slightest of edge.

These algos are written based on chart patterns and are trading against other bots (esp. in the short term). They have no intention of trading against us as we trade with chump change. We just hop on for the ride.

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Swan Noir
 

Registered: Jun 2009
Posts: 1694

 

09-04-12 04:23 PM

Yes.


Quote from oilfxpro:

Markets are highly manipulated, do you believe these manipulators will look at charts before manipulating?

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