Jump to navigation

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
Follow Futures          
       
more >>

We Asked Traders

Top things I learned about life while day trading millions

Sponsored Content

Trading

Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal

Featured Topics

more Commodities>>

Commodities

A Saudi-Iran oil war could break up OPEC
Advertisement
more Volatility>>

Volatility

Implied vs. Realized Volatility & the VIX
more Financials>>

Financials

Making drones work for you
more Financials>>

Financials

Perspective: S&P 500 short side off highs

Advertisement

E-mini S&P reverses higher after higher low

Brooks Price Action - 03-06-2013 Wednesday

By Al Brooks

March 7, 2013 • Reprints

pending chart 1924

Second entry sell high of yesterday, final flag bottom, higher low major trend reversal, trading range day

  • Wednesday, March 6, 2013
  • Bar 1 - Yesterday was tight trading range so magnet. Gap up and bear bar so possible high of the day but small bar, 2t tail. Ok swing sell or short, but sideways likely
  • Bar 2 - Bear follow through, more down, but might get or at moving average
  • Bar 4 - Outside up bar but not at moving average. Sideways likely
  • Bar 6 - Second entry sell high of yesterday so ok swing sell or short and maybe scalp
  • Bar 9 - Outside up bar but but tight trading range. Wait. Probably trending trading range day up or down
  • Bar 11 - Bull reversal bar at moving average, double bottom 4, but 4 bar tight trading range and big bar. Better to wait. Still on 6 swing sell or short
  • Bar 13 - Big bear breakout but big tail and all bos failed for past 80 bars. Wait
  • Bar 14 - Bull inside bar, two legged pullback in a bull move 3, fail, failure breakout, but tight channel. Wait. Still on 6 swing sell or short
  • Bar 16 - Breakout pullback sell or short, fail, failure two legged pullback in a bull move. Swing sell or short or swing and maybe part scalp
  • Bar 20 - 18t below 6, wedge 4 13 at 15 minute 20 bar moving average plotted on a 5 minute chart, but 2 dojis and no bull bodies in 6 bars. Probably better to wait
  • Bar 23 - Bear inside bar, double top 16, top of bear channel, but 2 bull bars and wedge bottom so might be buyers below or buy below. Wait
  • [more Bar-by-Bar Analysis, Daily Webinar and Trading Course info at www.brookspriceaction.com and www.brookstradingcourse.com]

About the Author

Al Brooks, M.D., is author of the Brooks Trading Course (27 hours of videos at BrooksTradingCourse.com), several books on Price action (Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader, Wiley, 2009, and the 500,000 word, three-book series, Trading Price Action, Wiley, 2012), and numerous articles in Futures Magazine. He also provides live intraday E-mini price action analysis and free end-of-day analysis on www.brookspriceaction.com.

Related Articles
Making drones work for you
Daily Price Action: S&P 500
Powell pontificates, but pulls his punches as predicted
Is S&P at major top? Major Market Ranges for the Week of Aug. 27
Daily Price Action: E-mini S&P 500
Previous
Key stock market indicator breaks significance resistance
Next
Oil falls as supplies rise to record levels
Related Terms
technical analysis 1329E-mini S&P 500 286Al Brooks 239Daily Price Action 42

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
images