{"id":60272,"date":"2016-11-06T02:00:51","date_gmt":"2016-11-06T10:00:51","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=60272"},"modified":"2018-03-25T07:06:49","modified_gmt":"2018-03-25T14:06:49","slug":"trading-room-commentary","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/ask-al\/trading-room-commentary\/","title":{"rendered":"Ask Al: Live trading room commentary"},"content":{"rendered":"<h2>Al Brooks&#8217; live trading room<br \/>\n BPA trading room commentary: April 5, 2016<\/h2>\n<p class=\"content-box-green\">An extract from Al&#8217;s trading room today, in response to many requests for some insight into how room operates. You can find a one hour sample on the Learn to Trade\/Trading room menu link above. A more recent sample of the room will be prepared in future to reflect Al&#8217;s evolving style. Let us know if you want more of these Ask Al room extracts. A longer extract is planned for this month or next.<br \/>\n<em>Video duration: 5min 04sec<\/em><\/p>\n<div style='position:relative;height:0;padding-bottom:56.25%'><iframe class='sproutvideo-player' src='\/\/videos.sproutvideo.com\/embed\/7c9adfbb1318e5c7f4\/24a75bed6c4cc2ec?playerTheme=dark&amp;playerColor=' style='position:absolute;width:100%;height:100%;left:0;top:0' frameborder='0' allowfullscreen><\/iframe><\/div>\n<p><\/p>\n<p class=\"caption\">You can also view this video on <a href=\"https:\/\/youtu.be\/S16E0I4biIU\" target=\"_blank\" rel=\"noopener\">Al&#8217;s YouTube Channel<\/a> if needed.<\/p>\n<h3>Bear flag? Or not?<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary-300x204.jpg\" alt=\"Ask Al Brooks - ES Chart Live Trading Room Commentary\" width=\"300\" height=\"204\" class=\"alignleft size-medium wp-image-60275\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary-300x204.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary-768x522.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary-600x408.jpg 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Ask-Al-ES-Chart-Trading-Range-Day-Trading-Room-Commentary.jpg 866w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>So what are the chances that this is simply a bear flag? Well, I think the chances are better than 50\/50, the bear breakout has failed and we\u2019re going to try again to get above the moving average. Bulls still have not yet done enough to convince traders that the bear trend , the bear channel has ended. But whenever the market tries 4 or 5 times to get above the moving average and every failure lasts only a bar, or 2 or 3, the odds are the bulls eventually will be successful. So I do think at this point\u2014the bears had their chance, 34 failed, so I do think we will break above the moving average and stay above it for 10 bars or so.<\/p>\n<p>The target, whenever you\u2019re in a bear channel, is each prior lower high, 1, 2, 3. This is also a type of a wedge. You have a <a href=\"http:\/\/www.investors.com\/how-to-invest\/investors-corner\/double-bottom-pattern-can-yield-solid-breakouts\/\" target=\"_blank\" rel=\"noopener\">double bottom<\/a> bear breakout, so 3 pushes down &#8212; 1, 2, 3. So the double bottom creates the first two pushes. Then the failed bear breakout, the third push. The reversals up have just not been strong. Bar 20, bar 29, 31, 38, the bars are just not big enough, and they have not yet had follow through.<\/p>\n<h3>Bear channel trading<\/h3>\n<p>Bears. When you\u2019re in a bear channel, the bears sell every close of every big bull trend bar, right below the moving average, at least for a scalp. So the bears are selling this. I\u2019m currently flat but I\u2019m more inclined to buy because 38 is a good enough reversal to make me think the bears lost control. But the bulls really have got to get above the moving average. So buyers or sellers below 38, 39? For the bears, it\u2019s a swing sell for the bear channel. The bears should not have allowed 35, and they then should not have allowed 4 bars up. They should not have allowed 38 to close above the 37 high. So this is interesting, 39. Will the bulls get a gap? 39 low, 37 high. If they do, it would be a subtle sign that the bulls are taking control. <\/p>\n<h3>Possible trading range day<\/h3>\n<p>The entire selloff does not look very strong. It\u2019s probably a bear leg in a trading range. Trading range has to have at least one bear leg and one bull leg. We\u2019ve had the bear leg. I don\u2019t think this is enough of a bull leg so I think that we\u2019re going to get a bull leg. But so far the bulls are continuing to fail to do what they need to do, to make traders believe that they have taken control. Would I buy or sell 39, a failure at the moving average? I would not sell it. The bears had terrible follow through, 35, and then they allowed the bull breakout 38. So all I would do here is buy or wait. We\u2019re so close to the moving average, and the bulls have failed at the moving average for 3 hours. It makes me hesitant to buy this close to the moving average but I\u2019m ready to buy if we start to break strongly above the moving average.<\/p>\n<h3>Bullish, bearish, bullish\u2026<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/bull-and-bear-with-dice.jpg\" alt=\"Bull and bear with dice\" width=\"285\" height=\"177\" class=\"alignleft size-full wp-image-60282\" title=\"\">If you notice, I was starting to get a little bullish over here. And then I was bearish over here. And then bullish again. I don\u2019t have any problems changing my mind. Sometimes I\u2019ll change my mind several times, in the course of a minute. I just don\u2019t have any difficulty with that at all. I just make an assessment of what is in front of me and then I decide whether it\u2019s reliable enough for me to place a trade. If it\u2019s not, I wait. Right now, I\u2019m waiting. And I don\u2019t view it as, \u201cOh Al. You\u2019re so stupid! You thought it was becoming long on 31 and short on 34, and long on 38\u2014you don\u2019t know what you\u2019re doing.\u201d I don\u2019t think of it that way. I think of it as the market is telling me it lacks direction.<\/p>\n<h3>Most breakouts fail!<\/h3>\n<p>Everyone wants a trend. Most of the time you do not get a clear strong trend and a lot of times you get this: every 2 or 3 bars, it reverses. So I don\u2019t view it as me being wrong, I just view it as the market unable to sustain a move, one way or the other. One of the attempts is going to be successful. Just like I\u2019ve been saying for 2 years now, that one of the <a href=\"https:\/\/www.brookstradingcourse.com\/how-to-trade-manual\/trading-breakouts\/\" target=\"_blank\">breakout attempts<\/a> \u2013 here\u2019s the weekly chart. One of the breakout attempts will be successful, but any one of them is probably going to fail \u2013 fail \u2013 fail \u2013 fail \u2013 fail!<\/p>\n<h3>How the day ended \u2013 A trading range day<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405-600x444.png\" alt=\"Emini ES Chart End of Day Trading Range Day 160405\" width=\"600\" height=\"444\" class=\"aligncenter size-large wp-image-60280\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405-600x444.png 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405-300x222.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405-768x568.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/11\/Emini-ES-Chart-Trading-Range-Day-Room-Commentary-160405.png 800w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><em>Al Brooks<\/em><\/p>\n<p><a title=\"Al Brooks&#039; trading room\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\">Information on Al&#8217;s Online day trading room<\/a><\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>Al Brooks&#8217; live trading room BPA trading room commentary: April 5, 2016 An extract from Al&#8217;s trading room today, in response to many requests for some insight into how room operates. You can find a one hour sample on the Learn to Trade\/Trading room menu link above. A more recent sample of the room will [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"shadow","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-60272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/60272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=60272"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/60272\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=60272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=60272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=60272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}