if it is a strong range then H2, L2 are high probability fades. if it is a strong trend then H2, L2 are high probability with trend trades. so market condition is more important than set ups.
now what is a strong trend? one which there are gaps. NOT gaps in the conventional sense but gaps as Brooks defines it.
to put all this in a summary. a free summary no usd. print this and memorize it if it is a strong range then H2, L2 are high probability fades. if it is a strong trend then H2, L2 are high probability with trend trades. so market condition is more important than set ups. now since the market spends a lot of time in neither being in a strong trend or in a strong range you have to spend a lot of time doing nothing. now what is a strong trend? one which there are gaps. NOT gaps in the conventional sense but gaps as Brooks defines it. once a gap, is filled then traders will start fading breakouts and H2/L2 because then it is no longer a strong trend a channel is a weak trend and a weak range. so they can be traded as trend or a range: you can trade the channel trend as a swing and the channel range as a scalp. channels can be narrow or broad. if the channel is broad then you can trade the overall direction of the channel as trend obviously keeping the appropriate stop if channels are to narrow you cannot scalp the channel because there is no room for a successful scalp; which Brooks defines a 6 ticks: but you can define it any way you want as long, as you define what is a scalp for you. also if it is a channel, it is better fade signals than take them, with a appropriate stop. For me even 3 ticks in ES is good enough[! ] it is 30 usd after all costs and 30 usd a day is enough for a family to survive on, in India. and i can make it in one scalp ...... that is a good incentive for all of you to immigrate to India and you will be welcomed with open arms
Yea idk about Brooks to be honest with you. Can't stand the thought of scalping either tick fucking away all day just isn't my thing.
it is not about Brooks or LINDA or Pring or Bollinger or anyone else . it is about what makes sense to you. this is the beauty of trading. Trade the way, it makes sense to you. then you will be happy trading
I'm only happy when it's raining money. You know what makes me even happier? Piles and piles of money. Ooodles and noodles of dough. Like a bank vault full of benjamins. Can you visualize it?
im short crude here. corn looks strong on the short term. but so damn ugly when you zoom out. I might take a long position tomorrow with a tight stop, we'll see. crude doing me good right off the bat. hate it when my positions get menaced as soon as i enter.