07/12/2012 Live Update

[Cobra]

key time. wait.

[Harapa]

HOLY SHITE my tick is beeping buy/top
haven't heard that beep in quite a while

Same here.

[SB73]

triangle so it's bullish biased. if we have yet another strong close today, should favor bulls.

again please read my spx down 5 days history chart carefully, there're some cases it did down 6 days in a row especially recently, but just don't simply blame me for being wrong as I actually covered the 6 down days cases. CHECK THE CHART CAREFULLY. when you read my report, you must read the chart, chart is more important than what I write. When I write the report, I draw all the charts first and put everything on the chart, then just brief the chart in text, so chart is actually the core of my report. thanks.

Seems like a win / win. Close red = bullish, close green = bullish and I got my gap close so I can sit it out for a little bit.

[MrMiyagi]

IWM ghost caught.

[Petsamo]

Nice comeback on FCX & XME

[EvilTrader]

Hey Cobra

are you familiar with Al Brooks books on 5-minute tech analysis ? Do you recommend it ?

What you and other forum member think of it ?

A waste of time and money or something of value ?


Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
"Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader"
Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader By Al Brooks

http://www.amazon.com/Reading-Price-Cha ... roduct_top

I didn't read YET. It's for experienced traders otherwise you don't know what he says. also if you want to buy his book, please via my amazon link.

Thanks Cobra.

I appreciate your input.

If i buy it, i will do it via your link.

[Al_Dente]

This is where Carter would “fade the tick”
But he CRAZY
http://screencast.com/t/TwPvjuWr9Bj

[Cobra]

Hey Cobra

are you familiar with Al Brooks books on 5-minute tech analysis ? Do you recommend it ?

What you and other forum member think of it ?

A waste of time and money or something of value ?


Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
"Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader"
Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader By Al Brooks

http://www.amazon.com/Reading-Price-Cha ... roduct_top

is he richer then W. Buffet ? if not what is the value then in the book.

I cannot bear to read his book (well, virtually I cannot read any book now, I can accept images only nowadays), but lots of concepts I'm using here were from his idea. Check "Getting Started" in this forum. So I really wish I could read his book, perhaps my calls on the market would be improved more.

[OverUnder]

As my dear mother used to say, God care for her beautiful soul, "This time I mean it!"

[Petsamo]

Yesterday's high is still a long way up

[cguirguis]

Very odd... I see 3 p-bars hitting 134.20 on SPY, each on a sharp spike in volume. Looks like that's our next stop.

[Al_Dente]

HOLY SHITE my tick is beeping buy/top
haven't heard that beep in quite a while

Same here.

thanks harapa
too bad i cant replicate, i mean borrow, i mean steal that chart
CUZ IT'S GOOOOOOOD................. .............

[soku]

crap what button u pressed. roller coast?

[EvilTrader]

Hey Cobra
are you familiar with Al Brooks books on 5-minute tech analysis ? Do you recommend it ?
What you and other forum member think of it ?
A waste of time and money or something of value ?
Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
"Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader"
Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader By Al Brooks

EVIL
I’m still on this one “Reading Price Charts Bar by Bar:...”
It takes me a day to read then re-read one or two pages as the author is on crack.
But I think it’s valuable for scalpers.
ps please remember to use cobra’s amazon link if u buy it

Yeah...this type of tape reading is some kind of science and art, mixed with patience and discipline.

I think, the more knowledge, the better a trader becomes. Just dont confuse information with noise.

[OverUnder]

Screw the p bars, have some BTO.

http://www.youtube.com/watch?v=j83xviHVmGg

[TraderGirl]

FAS update...

[taggard]

Hey Cobra

are you familiar with Al Brooks books on 5-minute tech analysis ? Do you recommend it ?

What you and other forum member think of it ?

A waste of time and money or something of value ?


Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
"Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader"
Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader By Al Brooks

http://www.amazon.com/Reading-Price-Cha ... roduct_top

is he richer then W. Buffet ? if not what is the value then in the book.

I cannot bear to read his book (well, virtually I cannot read any book now, I can accept images only nowadays), but lots of concepts I'm using here were from his idea. Check "Getting Started" in this forum. So I really wish I could read his book, perhaps my calls on the market would be improved more.

strongly doubt that reading the book in detail would help your calls much--mostly you are doing things right by his standards. i realize this is the same old rap from me but the key idea for people here once the technical stuff is pretty much in hand is to work on all the other stuff. so looking for more how you look at the rules as opposed to focusing on getting the rules more in hand.

to all site users--we find tons of posts about this or that pivot point but not much discussion on how to improve our trades in terms of size--having confidence or not etc. if you know the rules inside and out--and both cobra and al brooks are fairly simple if you just hang with them for a while--then something else is the issue.

i kept track of my understanding of the market in extreme detail in the following way. (1) did i clearly know what was going to happen the next day. (2) breaking the day down into segments (a) did i know what was happening in the sense of knowing the whole trade from start to stop. (b) how loudly did i know this--how strong did i hear the trade in my head. (3)what were the results of my trades.

and guess what there was no relation between the knowing what was going on--loud or not--in any time frame. the only thing was did i follow the rules no matter what i felt. so measured moves pivots etc mean nothing--just that i follow trends and buy points. if i am scared clueless etc nothing makes any difference.

also discovered from other investigations if i spend 1/10 the time working on the charts--i do 50% better. the less stuff i watch--the better i do

so just my opinion but the calls are fine--i just wish people would talk more about the other stuff--because it has to be the key if the calls are right 80% of the time.

[MrMiyagi]

AAPL has worm in it?

[Al_Dente]

PAGING EVIL
Brooks deals almost exclusively with each and every five minute candlestick.
Obsessive compulsive disorder on every friggin' stick (like us)
http://screencast.com/t/T0IxjxjECk2s
I like it when he simplifies it, eg: [paraphrased]: “every candlestick is either a trend candle or a doji, period…”

[ballatines]

China GDP data out tomorrow and i expect more volatile range in coming