Details

Acknowledgments xi <p>List of Terms Used in This Book xiii</p> <p>Introduction 1</p> <p><b>PART I Trend Reversals: A Trend Becoming an Opposite Trend 35</b></p> <p>CHAPTER 1 Example of How to Trade a Reversal 73</p> <p>CHAPTER 2 Signs of Strength in a Reversal 79</p> <p>CHAPTER 3 Major Trend Reversal 83</p> <p>CHAPTER 4 Climactic Reversals: A Spike Followed by a Spike in the Opposite Direction 111</p> <p>CHAPTER 5 Wedges and Other Three-Push Reversal Patterns 151</p> <p>CHAPTER 6 Expanding Triangles 181</p> <p>CHAPTER 7 Final Flags 189</p> <p>CHAPTER 8 Double Top and Bottom Pullbacks 217</p> <p>CHAPTER 9 Failures 225</p> <p>CHAPTER 10 Huge Volume Reversals on Daily Charts 257</p> <p><b>PART II Day Trading 261</b></p> <p>CHAPTER 11 Key Times of the Day 263</p> <p>CHAPTER 12 Markets 271</p> <p>CHAPTER 13 Time Frames and Chart Types 273</p> <p>CHAPTER 14 Globex, Premarket, Postmarket, and Overnight Market 287</p> <p>CHAPTER 15 Always In 293</p> <p>CHAPTER 16 Extreme Scalping 317</p> <p><b>PART III The First Hour (The Opening Range) 331</b></p> <p>CHAPTER 17 Patterns Related to the Premarket 353</p> <p>CHAPTER 18 Patterns Related to Yesterday: Breakouts, Breakout Pullbacks, and Failed Breakouts 357</p> <p>CHAPTER 19 Opening Patterns and Reversals 373</p> <p>CHAPTER 20 Gap Openings: Reversals and Continuations 395</p> <p><b>PART IV Putting It All Together 401</b></p> <p>CHAPTER 21 Detailed Day Trading Examples 403</p> <p>CHAPTER 22 Daily, Weekly, and Monthly Charts 415</p> <p>CHAPTER 23 Options 431</p> <p>CHAPTER 24 The Best Trades: Putting It All Together 455</p> <p>CHAPTER 25 Trading Guidelines 527</p> <p>About the Author 541</p> <p>About the Website 543</p> <p>Index 545</p>

<p>AL BROOKS is a technical analysis contributor for Futures magazine and an independent day trader. His approach to reading price charts was devel-oped over two decades in which he changed careers from ophthalmology to trading. Brooks graduated from The University of Chicago Pritzker School of Medicine in 1978 and received a BS in mathematics with honors from Trinity College in 1974. His website, brookspriceaction.com, outlines his trading approach and views as well as hosts a subscription-based daily trading chat room in which Brooks talks with other traders about the market.</p>

<p>Praise for Trading Price Action Reversals</p> <p>"Al Brooks has written a book every day trader should read. On all levels, he has kept trading simple, straightforward, and approachable. By teaching traders that there are no rules, just guide-lines, he has allowed basic common sense to once again rule how real traders should approach themarket. This is a must-read for any trader that wants to learn his own path to success."—Noble DraKoln, founder, SpeculatorAcademy.com, and author of Trade Like a Pro and Winning the Trading Game</p> <p>"A great trader once told me that success was a function of focused energy. This mantra is proven by Al Brooks, who left a thriving ophthalmology practice to become a day trader. Al's intense focus on daily price action has made him a successful trader. A born educator, Al also is generous with his time, providing detailed explanations on how he views daily price action and how other traders can implement his ideas with similar focus and dedication. Al's book is no quick read, but an in-depth road map on how he trades today's volatile markets, complete with detailed strategies, real-life examples, and hard-knocks advice."—Ginger Szala, Publisher and Editorial Director, Futures magazine</p> <p>Over the course of his career, author Al Brooks, a technical analysis contributor to Futures magazine and an independent trader for more than twenty-five years, has found a way to capture consistent profits regardless of market direction or economic climate. And now, with his new three-book series—which focuses on how to use price action to trade the markets—Brooks takes you step by step through the entire process.</p> <p>In order to put his methodology in perspective, Brooks examined an essential array of price action basics and trends in the first book of this series, Trading Price Action TRENDS; provided important insights on trading ranges, breakouts, order management, and the mathematics of trading in the next book, Trading Price Action TRADING RANGES; and now moves on to discuss trend reversals, day trading, daily charts, options, and the best setups for all time frames in this third, and final, book of the series, Trading Price Action REVERSALS.</p> <p>Page by page, Brooks skillfully addresses how to spot and profit from trend reversals—which offer an excellent risk-reward ratio—using the technical analysis of price action. Along the way, he touches on some of the most essential aspects of this approach as well as several other important topics, including the various types of reversals, successfully trading the opening range of a day session, price action setups that new traders should focus on, and much more. Throughout the book, Brooks focuses primarily on 5 minute candle charts—all of which are created with TradeStation—to illustrate basic principles, but also discusses daily and weekly charts. And since he trades more than just E-mini S&P 500 futures, Brooks also details how price action can be used as the basis for trading stocks, forex, Treasury Note futures, and options.</p>

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