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
I got nailed by another V bottom today...something I struggle with. I enterred at the red box AIS and watched as it reversed. I did an "after-the-day" analysis of the price action and would love to see if someone had some thoughts on it.
Gregg
Gregg, nice-looking chart and markups… I made some annotations and wondered if that was something that could have been accounted for?
Thanks Mike. That's a real help. The pin on the way down being a pullback...that makes the second move down from there a measured move so I'd have expected the pullback. Great idea to exit above that bar. I got myself locked into the idea to 'sell for any reason'.
Many thanks!
Hi Gregg,
maybe you try to imagine how this looks like on m15. The first 3 bars were 1 big sell signal there and bears took profit after 1R at the bottom, which I marked to make it visible. Some are calling it 1R some are saying MM, it doesn't matter. It's clearer at the 5M that bears took profit and bulls took over with the signal bar at the bottom.
What might help you as well is the TR which Mike drew in his picture. You have the a compressed TR of X bars with a gap up that reverse on the open down wards. Usually a gap up means that bulls will get some FT. So in that context gap up > up sell down > down you might expect a TR even if the SX looked brutal in the first bars.
Hubert,
I see what you mean. The gap up near the 6 bar pullback which I think has an H2. Good point.
Gregg
