The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Brooks Trading Course Learning Resources >>>
Hello everyone
I was studying Al's daily chart from 24 May 2022 and found a long entry which surprised me (painted with black arrow nead EoD).
I understand that the entry shown are swing entries from an always in perspective.
Here I see a long entry after 3 bear bars, oh which two are big and closing near their low.
What made Al enter after the next bull bar, which seems minor?
I dont understand why it switched to AIL, and intuitively I would have kept my stop above the start of the breakout. Am I support to reverse here or close my short?
Many thanks!
Looks like it's a similar setup to the prior one. A wedge bull flag with a HL in a bull channel.
Thanks Andrew!
So if I understand correctly because of the location, and as we had a lot of reversals previously, one bull bar is enough to make it AIL?
That is my best guess as to Al's thinking. Personally, I would want to see more buying pressure even though the selling decreased dramatically in the prior bear bars.
Wedge Bottom and Reversal bar - that's seem to be the BTC bread and butter setup, no? Could be wrong.
there are indeed 3 pushes down, however I don't think I have seen Al talking about wedge bottoms that are upward sloping?
Matthias it might look like this, no?
