DislikedHi All, having to learn more about PA which book do you suggest to build basic knowledge ? Below few good example: - Martin Pring - "On Price Patterns" - Al Brooks - "Trading Price Actions" Thanks a lot Cheers XamIgnored
I have bought all the 3 books by Al Brooks...on price action trading. I have not found it so useful...you need a lot of patience to go through AL analysis and he is focussing on PA on small time frames. In trading one gets to a point that if one is serious he just does some reading on PA....PA being the core stuff ...sometimes just reading without focussing on any outcomes can teach us a great deal. I brought those books with that opinion, just to read...and let the stuff sink in.
I am yet to find a very good book on PA....I did search online and at bookstores.....but do not find any insightful material on this stuff. I am getting familiar with pin bars and outside bars but I just need one more strong PA signal.....and I could not find that. I always work and think in terms of 3....and I currently have only two good PA signals(pin bar and outside bar)....I am just not that happy about double bottom...it does not seem to appear a lot of times on the charts.
The third PA (I would not call this PA) I am focussing on is a strong PPZ at price highs or lows.....if there is a breakout of a strong PPZ I just dont see why we cannot trade this. It is called a touch trade in this forum ...but in the absence of a good 3rd PA signal I am thinking of using a strong PPZ as my third signal.
I would like to read all 3 books of AL because price action simply is the core and bread and butter of trading. Any small insight you can get into this can improve your trading a lot. Trading in the sense of not winning one or two trades or even 10 trades but in the sense of a strategy that you can rely on consistently over a long period of time.