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According to paragraph in the Book:
Bar 4 was a doji bar after two other doji's, and a bar with a tiny body and a micro wedge top made of doji's is rarely a reliable setup. The overlapping doji's represent two-sided trading and therefore uncertainty. However, the three tails on the tops of the bars were a sign of building selling pressure. A second entry setup came two bars later in the form of a two-bar reversal, and the short entry was below the lower of the two bars.
My question here is:
If the second entry was below the large bear bar reversal where was the first entry (which bar before or after bar 4)?
Also, According to paragraph is in the Book:
Bar 6 was a bull reversal bar and a second attempt to rally on a test of the low of the day.
My question here is:
Is bar 5 the first attempt to rally? If yes, is it because it's high went above the height of the prior bar even though it ended as a doji bar?
Also Bar 6 is define as second attempt to rally. Is it just because it is a bull reversal bar?
Also, According to paragraph is in the Book:
Bar 7 was a doji but it was a pullback to the moving average with a bull body after a strong move up, and it was the second attempt to rally (the first was the bar before it).
My question here is:
What makes bar before bar 7 the first attempt to rally? Is it because its high went above the high of the prior bar or it went above the moving average at some point when it was forming? Or Both of these scenarios?
Also, According to paragraph is in the Book:
Bar 11 was an ioi and a second-entry long setup on the push below the bar 7 swing low.
My question here is:
Why is bar a second entry long setup even though its high didn't surpass the bar before it even though it was a bull bar. (I understand that it is reversing the prior swing low of bar 6 but what makes it a second entry long setup and which bar would be an entry bar here (is it a bar after 11?).
Which bar before bar 11 was the first entry long setup? Was it the bar before bar 11 which is an outside bar? If yes, was it because that outside bar went above the high of the prior bar?
where was the first entry (which bar before or after bar 4)?
The bar right after bar 4 is the first entry (as if you had entered one tick below bar 4)
Is bar 5 the first attempt to rally? If yes, is it because it's high went above the height of the prior bar even though it ended as a doji bar?
yes, you could say that. He could also mean its the 2nd attempt to reverse from the low of the day, the previous low of the day being bar 1. So in a larger context, its a Double-bottom attempt reversal.
Also Bar 6 is define as second attempt to rally. Is it just because it is a bull reversal bar?
I dont know if he says rally or reverse. Yes, its because its a bull reversal bar in the correct context.
What makes bar before bar 7 the first attempt to rally? Is it because its high went above the high of the prior bar
Yes. You can look at it as a 2 legged pullback to the EMA after the move up from 6 to above the EMA. Bar 7 is what he could call a High 2 buy signal bar, because the bar before bar 7 was the High 1 ( even though a bear bar).
but what makes it a second entry long setup and which bar would be an entry bar here (is it a bar after 11?).
The inside bar before the Outside bar is the first entry - the Outside bar went above it ( and also below it). So the 2nd inside bar 11 is now a 2nd entry buy signal with an entry 1 tick above its high, and the bar after 11 is the entry bar because it would have filled your order above bar 11.
There is some confusion about the signal bar and the entry bar from what you are describing. I think its also because at some point Al used to call the bar after the signal bar as the High[n] and Low[n] and then he shifted to calling the signal bar as the H[n] and L[n] (and the bar after it as the entry bar). At least in the above, when he says 1st entry or 2nd entry long, he is referring to the signal bar whose high is below the prior bar high and the next bar is the entry bar if it goes above the signal bar high. Vice-versa for entry short.
See my recent response here on similar topic - https://www.brookstradingcourse.com/support-forum/postid/6416/
Thank you Rajesh! I am currently reading book 1 Trading Price Action Trends. Maybe it will be much clear once I read H1 and H2 concept in the second book in detail. At this point all I know (based on the concept provided from book) is that the signal bar is the bar right before the entry bar in which an entry order is filled. Bar before bar 7 was a H1 bar because its high went above the high of the prior bar. If there is then a bar with a lower high (which is bar 7), the next bar in its correction whose high is above the the prior bar's high is a H2 (which is bar after 7) like you said. And Since bar after Bar 7 is a H2 bar, bar 7 becomes H2 signal bar. This should be the case correct?
At least in the above, when he says 1st entry or 2nd entry long, he is referring to the signal bar whose high is below the prior bar high and the next bar is the entry bar if it goes above the signal bar high.
While trying to understand the concept, when he said first entry or second entry I was referring to actual H1 or H2 since they are the entry bars because signal bars could never become signal bars if the bar following do not become h1 or h2 and hence not qualifying them to be a signal bar .
Thanks again!!
Here Al says,
Look at the bar 10 long. The market is letting you buy at one tick better than the traders who bought at bar 9. In general, the “good fill, bad trade” maxim applies. Whenever the market is offering you a bargain, assume that you are reading the chart incorrectly; usually it is better
not to take the trade. Even though bar 10 was a second entry, the momentum down was strong, as seen by the tight bear channel down from bar 8. Before taking a counter-trend trade, it is always better to see some evidence in the preceding several bars that the bulls were able to move more than just a couple of ticks above the prior bar.
My question:
Which bar is bar no 10 that AL is referring to? Is it the one with red arrow or one with blue arrow? ( my guess is the bar with blue arrow since it offered a better price than bar 9?
Also Which bar is bar no 9 that AL is referring to? Is it the bat with orange arrow or black arrow?
When Al says traders who bought at bar 9, is there a rationale buying at bar 9 or he is just suggesting the current scenario with no specific reason.
What i understand from these bars is that bar with an orange arrow went slightly above the bar before it (also a micro double bottom)and hence making it an entry bar and the prior bull bar a signal bar and hence making it a first entry bar? The second entry bar would be then a h2 bar which would be the bar with red arrow making it a H2 entry bar.
I just could not understand how bar 10 (which colored arrow) offered a tick better price?
Because first entry would be a tick above a orange bar, and the second entry would be a tick above the red bar (ignoring the preceding tight bear channel and just looking at these bars only).
I remember this example, I found it confusing at first too. From my understanding, the first entry would be one tick above the bull reversal bar before your light red arrow. The second entry would then be one tick above the high of the bull bar before your second red arrow (meaning you would enter on the bar pointed by second red arrow) and this entry would end up being 1tick below the first entry. So bar 10 would be the bar pointed by your second red arrow, and bar 9 would be the bar pointed by your light red arrow. Bar 9 and Bar10 are entry bars.
Hope this helps 🙂
If the second entry was below the large bear bar reversal where was the first entry (which bar before or after bar 4)?
There are a few ways to look at this. Because of a DT you can say there was an L1/L2 (screenshot) and selling below 4 was second entry. But for the purposes of this example it's simpler to just say below 4 was first attempt to sell, and below the big bear was 2nd.
Bar 6 was a bull reversal bar and a second attempt to rally on a test of the low of the day. Is bar 5 the first attempt to rally? If yes, is it because it's high went above the height of the prior bar even though it ended as a doji bar?
Yes, the bar before 5 was the first rally attempt. There's no doubt about it because the next bar ticked higher. However, even if there was no tick above prior bar, as long as it's visually possible to discern a "push" then you can argue that a rally attempt was made.
Also Bar 6 is define as second attempt to rally. Is it just because it is a bull reversal bar?
Yes, a strong trend bar is a very good candidate for a "rally attempt".
What makes bar before bar 7 the first attempt to rally? Is it because its high went above the high of the prior bar or it went above the moving average at some point when it was forming? Or Both of these scenarios?
The bar before 7 was a rally attempt because the high went above prior bar. Anytime there's even a single tick above prior bar it's a clear rally attempt.
Why is bar 11 a second entry long setup even though its high didn't surpass the bar before it even though it was a bull bar.
Bar 11 was a "setup" bar, not entry bar. A setup bar doesn't have to tick above. The way H1/H2 counting works, we label setup bars with H1s H2s and so on. The entry bars we don't label.
Which bar before bar 11 was the first entry long setup?
The first entry before B11 was that smaller doji before the outside bar. Setup bars are the ones that get triggered. The bars that trigger them are called entry bars. All together the whole thing is called a "rally attempt".
Hope that helped!
CH
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