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Reading Price Charts Bar by Bar

The Technical Analysis of Price Action for the Serious Trader
Series: Wiley Trading
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( 171 ratings, 12 reviews)
Book Hero Magic crafted this summary to help describe this book. While it's new and still learning, it may not be perfect - your feedback is welcome! Summary
Reading Price Charts Bar by Bar by Al Brooks offers an in-depth analysis of price action trading techniques, providing traders with strategies to better understand market movements. The book focuses on dissecting price charts in detail, highlighting how traders can make informed decisions without relying on technical indicators. Brooks emphasises the importance of reading each price bar's significance to predict market trends and improve trading outcomes.
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Format: Hardback
$15499
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

You might enjoy this book if you're keen on mastering the art of reading price charts for day trading or swing trading in the financial markets. It's perfect for those seeking a deeper understanding of technical analysis and price action techniques to identify market trends and make informed trading decisions.

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A completely original approach to trading using price bar charts In Reading Price Charts Bar by Bar, Al Brooks--a technical analyst for Futures magazine and an independent trader--demonstrates how the information gleaned from this method can significantly enhance trading returns, while minimizing downside risk.

Book Hero Magic formatted this description to make it easier to read. While it's new and still learning, it may not be perfect - your feedback is welcome! Description

A completely original approach to trading using price bar charts

While complex strategies and systems may work for some traders, understanding price action is all you really need to succeed in this arena. Price action analysis is an effective approach to trading today's markets—whether you're involved in stocks, futures, or options. It allows you to focus on the process of trading without being overwhelmed by a complicated collection of trading techniques. Although this method may appear elementary, it can significantly enhance returns as well as minimize downside risk.

One way to apply price action analysis to your trading endeavours is with chart patterns. Nobody understands this better than author Al Brooks, a technical analyst for Futures magazine and an independent trader for more than twenty years. Brooks discovered over a decade ago that reading price charts without indicators proved to be the most simple, reliable, and profitable way for him to trade. Mastering that discipline is what made him consistently successful in trading. Now, with Reading Price Charts Bar by Bar, Brooks shares his extensive experience on how to read price action.

At the end of the day, anyone can look at a chart, whether it is a candle chart for E-mini S&P 500 futures trading or a bar chart for stock trading, and see very clear entry and exit points. However, doing this in real time is much more difficult. Reading Price Charts Bar by Bar will help you become proficient in the practice of reading price action—through the use of trendlines and trend channel lines, prior highs and lows, breakouts and failed breakouts, and other tools—and show you how this approach can improve the overall risk-reward ratio of your trades.

Written with the serious trader in mind, this reliable resource addresses the essential elements of this discipline, including the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time. Brooks focuses on five-minute candle charts to illustrate basic principles, but discusses daily and weekly charts as well. Along the way, he also explores intraday swing trades on several stocks and details option purchases based on daily charts—revealing how using price action alone can be the basis for this type of trading.

There's no easy way to trade, but if you learn to read price charts, find reliable patterns, and get a feel for the market and time frame that suits your situation, you can make money. While price action trading doesn't require sophisticated software or an abundance of indicators, this straightforward approach can still put you in a better position to profit in almost any market. Reading Price Charts Bar by Bar will show you how.

Series: Wiley Trading

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Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

Reading Price Charts Bar by Bar by Al Brooks is recognized for its detailed approach to trading strategies, focusing on price action without relying heavily on technical indicators. Readers appreciate the comprehensive explanations and practical insights that cater to both novice and experienced traders. However, some find the content dense and recommend patience and practice to fully grasp its concepts.

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Book Details

INFORMATION

ISBN: 9780470443958

Publisher: John Wiley & Sons Inc

Format: Hardback

Date Published: 22 May 2009

Country: United States

Imprint: John Wiley & Sons Inc

Illustration: Screen captures: 278 B&W, 0 Color

Audience: Professional and scholarly

DIMENSIONS

Spine width: 33.0mm

Width: 158.0mm

Height: 231.0mm

Weight: 635g

Pages: 432

About the Author

AL BROOKS is a technical analysis contributor to Futures magazine and an independent day trader. Changing careers from ophthalmology to trading twenty years ago, he discovered consistent success and profitability as a trader once he developed his unique approach to reading price charts. He graduated from the University of Chicago Pritzker School of Medicine and received his BS in mathematics with honors from Trinity College.

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