I say, don't get so obsessed with the man. Pay attention to his writing. Also it's worth noting I never said Brooks was a "guru". He's just another author, among many authors I've read over the years. It's fair to say ONLY @padutrader idolizes Al Brooks and would devote all his god-given talent and all his time in learning his materials. As for me, I know there are many, many, many materials elsewhere just at important as Brooks' books that can also help you on your trading journey. So don't get so hung up, whether you like him or not. If Brooks is not your cup of tea, simply move on to something else.
Imo, price action is roughly fractal, but you cannot use it. The shorter your time frame, the more noise. Noise complicates trading. There is also a point, the longer the time frame that there is no fractals, eg, very long time frames don't behave to typical TA rules, ie no breakouts, no consistent rules on S/R, no double bottoms, double tops etc.
Good Evening themickey, Well, I am discretionary trader of the ES, the same market Al Brooks teaches, I can tell you this without debate, Al Brooks is not a trader, just a price action teacher. What the heck price action means. There is no way on earth Al Brooks is or was ever a profitable trader in this trading business. Or he would not be teaching. Anyone teaching how to trade is doing cause they do not want to stress of recovering drawdown and they can not recover drawdown and do not have the skills to do it. So he teaches to make his millions. Newbies, just do not know any better and naïve so they get taking advantage of. Full Disclaimer : I am currently a Losing Trader so far of about -$7,400 on the fiscal year of 2023. Let's see how the next 2 months go. My comments are not worth a penny with a hole in it because I am losing trader right now.
Price action imo is TA rules without using sophisticated indicators, eg no RSI, no STO, no Bollinger bands etc, even can discard MA's as ma's are too discretionary just S/R basically.
What many call "noise" is simply institutional algo's in scalp mode. They see price as fairly valued and there is no reason to break it out at such time. Eventually they will break it out and it will trend or fall back into the trading range. The same thing happens on a 1 minute chart, a daily chart or a weekly chart...same stuff over and over. Retailer traders have to learn and recognize what the market (institutions) want to do and go with it. Chart trading is not the only way to make money in markets but it works well for those willing to put in the work...regardless of influences.
Yep noise can be difficult to define, these two peaks, false breakouts on bitcoin recently could be defined as noise, later on as the trends continue, they will no longer be defined as noise, they'll become part of the PA picture.
Good Evening themickey, In my humble opinion, FUCK Price Action and Technical Analysis with a big fat horse dick. That crap does not make any day trader rich. Just a damn scam and pony and clown show.