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What is H1/L1, H2/L2?

What is H1/L1, H2/L2?

Postby Cobra » Mon Feb 14, 2011 10:09 pm

It's from AI Brooks' Reading Price Charts Bar by Bar.

• H1 –First pullback in an uptrend, above 1st bar that has a high above previous high.
• H2 – Second time a High above previous bar in that same pullback
• L1 - First pullback in a downtrend, below 1st bar that has a low below previous low.
• L2 – Second time a Low below previous bar in that same pullback

Here's a sample of L1/L2 and a typical AI Brooks' scalp. I should have used ES 5 min chart and the sample may not be a best trade for L2 but it should be enough to explain the concept.

SPY5min.png

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Re: What is H1/L1, H2/L2?

Postby Cobra » Mon Feb 14, 2011 10:18 pm

Here's AI Brooks typical day trading setups.

BrooksSetup1.zip
(5.45 MiB) Downloaded 2005 times


spike.ppt
(4.52 MiB) Downloaded 1796 times

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