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In 23B video (13:45 min), Al points to the buy climax late in the trend, but the time axis shows its start of the day. Do we take into account previous day session into account when counting bars on 5 min chart? Thanks!
Yes, as you can see Al does take it into consideration.
Thanks. How important is globex session price action for all time frames? Do we attach same significance to globex price action and day session?
You can check out Al's other website brookspriceaction.com where he posts EOD bar-by-bar analysis, there he mentions globex a few times.
From the extent he uses globex and from what I understood of price action, it seems to me that - since the globex sessions are not as actively traded as the US session, not many institutions take part in the price action and therefore it does not hold much relevance compared to the US session.
Although, one can expect price action to work equally well, it probably should get superseded by the activity that begins at the start of US session.
Also, Al replied to one of his blog comments that he prefers to keep it as simple as possible, thereby not attaching much significance to the globex session.
Disclaimer - I did not finish the course yet, so please keep an open mind that I am probably wrong.
That helps. I asked because many times, a pattern gets formed on 5 min chart 1 or 2 hours before market opens, and that pattern gets disregarded with huge swings during the open. Thanks!
