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I'm reading through the Trading Price Action trilogy and have many questions about some of the material. I imagine many other people do as well. Is there any area dedicated specifically to discussing Al's books?
Hey, i do not know if there is an own section about the books itself, but i did read the three books and do study intense the 1st one Trends at the moment.
if i can help you in any questions you can ask in this post to.
have a nice day.
best regards
Hi Julian, Thanks for the offer! I'm on Chapter 6 of Trends at the moment and find it very confusing since it seems like almost anything can be a signal bar as long as the subsequent bar is directionally the same as the same bar and it either has a higher high (in the case3 of a bull reversal say) or a lower low (in the case of a bear reversal). It also seems like you really need to read the books at least twice since Al refers to concept early on that are only elucidated later>. For example he references many concepts in Trends that are only described in Trading Ranges or Reversals.
Those are just some of the questions I have. There are tons more, lol.
Thanks again!
I feel you Steven. I did read trends as the first one and did understand nothing, but i did read, until the end (quite a few times). English isnt even my main language.
One thing that i actually find out about and what helped me a lot for example is, read a chapter like 6 and work on the daily charts, look for examples, if you do this every day you build pictures in your head and then you can imagine what al means if you are reading. You become able to visualize charts/bars/patterns in your head and can build up examples, for me the reading alone did not work to understand what he is meaning.
There is a youtube video, i think it is in the course too, under Bonus Videos #13. Where al explains how to draw daily charts. I only can recommend you doing this every day, if you have some basic understanding of the Pattern. This might changed the most for myself.
In terms of SB (signal bars) you are right every bar is a SB. It depends on what are you want to trade, with the trend a reversal or a trading range.
Like the Strong trend bar for example: in the right context it is a with trend SB.
Here is the Open form Friday and the Bear channel from Thursday:
The open B1 was a SB for a short trade. But why? because of the context, here the context was, thursday formed a strong tight bear channel into the close with the last 3 bull bars as a possible bear flag. This bear flag suceed with B1 becuase the bar broke under the trendline. In this example B1 was a Bear Reversal SB or pattern.
The next B2 was the follow through from B1 and was a strong Trend bar it was a SB for a with trend entry and indicates a sucesfull reversal down, B1 did suceed. It was a SB for a with trend trade because the context were good for a sucessfull follow trough down.
B3 was a SB for a Long Trade, Like B1 this is a Reversal SB, a bull Reversal bar. Context was a lower double bottom with the globex low and a possible end of the bear trend down, a channel line overshoot,... and more.
this 3 examples were SB examples for scalps. if you want to swing it might be different.
The more you are able to understand the context ,the more are you able to understand what likely will be the outcome.
If you look at a daily chart and you think, there a SB every where, then you have to find out what patterns are in front of you. i think the right way to go is what pattern is forming or formed and then you can see the SB in a way to give you some information. The bars are important to give you information about the strengh of the Pattern, but the Pattern is same important than the bars.
I hope you understand me well, and it helped you a bit.
Yes, i think it depends on what type of human you are, but for me i know twice is not enough. i did read all three in a row in a few months and then had to be honest to myself that there where a lot of questions, then i started to work on the question what confuses me most and studied on the charts/videos and the chapter and the question was answered by understanding. In my opinion you have to read it that often or styding with the books until you really understand the concepts, for me there is no number like two times or 10 times it depends on everyone difference.
🙂 Yes i understand you, there are a lot of questions espacially in the beginning, feel free to ask,...
Your welcome.
Thanks for that detailed excellent answer! I will do as you say and start looking at the charts to find examples of what AL is talking about in the books. That does sound like a great method to reinforce the material in the books. Thanks again Julian!
By the way, you English is great! I understood you perfectly! What is your native language if I may ask?
Here is the Template what im using on my Daily Chart Mark up.
You might have to adjust the Size of the foil....
The 1st im using for drawing Patterns and the second one did i use in the past to mark the different candles.
When you want to use the red line for example, Hold STRG > Click and hold at the line and drag where you want it, thats the easieast way to copy the templates.
Hy Samir, ja sicher gerne. ich hoffe der upload funktioniert so. LG
