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Context: Big down/big up/ Bears just got stopped out.
Regarding Bar 14 Signal Bar: 2nd push down, selling into the buy zone of a very strong bull leg. What is the valid premise for entering here? Is it 'always in short'? Does 'always in' work in trading ranges? Does Al secretly work for a broker? (joking 😀 )
(same question for Bar 20 SB + possible wedge bottom)
I think I would go short at bar 20, with my stop above 17. I agree with you, I think 14 isn't enough, personally I need a little more confirmation.
Yes - the BTC markups are "always in" trading.
Yes it is - for a scalp. Not a swing! Note the support from the previous day, exhaustive selling. It is aggressive and I wouldn't recommend it for beginners. If you read the text, it clearly says this isn't bulls buying (which is always in based) but shorts taking profit. So there are some "fine points".
That is also why you do not see other buys anywhere nearby. The next action is a short as the bearishness then begins to weaken.
Always-In is swing trading and much less stressful. However, Al does include scalps for special cases. See how, as the trend dissipates more buying is marked vs selling.
Studying many of these can significantly increase trade decision knowledge! Knowing it is marked by Al, you'll start to recognize the similarity of many of the situations. The markings are very specific, and the notes quite detailed.
Good trades to you!
Well, Al specifically says at the beginning of the files that the markings are for swing traders and the always-in direction. Are there other markings at turning points - yes. If you can consistently match anything which is on the daily chart, that is all that is needed. 90%+ is based on Always-In. Understanding what the base function for determining that direction is critical, and Al covers in his video series.
No, not all swing entries are lower probability, and no you do not need to take everything, especially in the beginning. The MTR is 40% probability because of its definition. However, a breakout is very much a swing trade and probability can be much higher. Al actually and specifically states that beginners should focus on taking the best 1-3 trades in a day. After becoming profitable one can expand. Building skill of pattern application and price movement is the important piece. Some swing entries can be 60% actually and these are areas where both swing and scalp trades can exist at the same time. In older files, Al specifically marked this areas with a "for beginners" designation. Technically that means anyone who isn't profitable. Why? Because risk management becomes even more critical the further one moves from the "for beginners" entries.
However, trading is a business where prices exist "in a fog" most of the time. There are no perfect trades.
From Al for trading markups:
Here are reasonable stop entry setups. I show each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a near 4-year library of more detailed explanations of swing trade setups (see Online Course/BTC Daily Setups). Encyclopedia members get current daily charts added to Encyclopedia.
My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter. These therefore are swing entries.
It is important to understand that most swing setups do not lead to swing trades. As soon as traders are disappointed, many exit. Those who exit prefer to get out with a small profit (scalp), but often have to exit with a small loss.
I've just randomly come across this question. I don't see other replies mention that the question itself has a mistake and seems the one who asks is reading the markings wrong.
The question asks about "signal bar 14". 14 is a bar marked with an arrow. That is an entry bar, not a signal bar. The signal bar in this case is 12 and 14 is an entry. Traders enter at different places but Al usually recommends to enter below the prior bar, a tick below low.
The premise for the trade would be the BRBO from DT, strong enough bar 12 breaking out below multiple bull bars. The bull trend is a single leg that is getting a strong enough reversal. Further devil is in the detail, the BLL as strong as it looks was not strong enough to close above open of the prior BRL, sign of a weakness. Combined with the said BRBO strength of the signal bar, the weak bull response 13 and you have a valid entry on 14 below 13 as marked by the arrow on bar 14.
Hope that helps.
